The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has inaugurated the new Board of the Agricultural Credit Guarantee Scheme Fund (ACGSF), reaffirming the Bank’s commitment to strengthening agricultural financing and boosting productivity across the country.
Speaking at the inauguration, Cardoso underscored the Scheme’s critical role in de-risking agricultural lending since its establishment in 1977. He said the ACGSF has continued to support farmers through guaranteed credit, contributing significantly to food security and rural development.
The CBN Governor called for a more innovative, inclusive, and technology-driven approach to agricultural lending, stressing the need to expand access for women and young farmers. He noted that the Scheme’s strong repayment rates — ranging between 90% and 98% — reflect its impact and sustainability.
The newly inaugurated ACGSF Board is chaired by Dr. Olusegun Oshin. Other members include Prof. Murtala Sabo Sagagi, Dr. Nneka Onyeali-Ikpe, Engr. Frank Satumari Kudla, Ms. Olusola Sowemimo, Ms. Adetoun Abbi-Olaniyan and Mr. Wondi Philip Ndanusa.
Cardoso said the Board is expected to strengthen collaboration, enhance monitoring mechanisms, and deploy real-time tracking tools to improve lending outcomes and support rural livelihoods.
Present at the ceremony were CBN Deputy Governors, Departmental Directors and other senior officials.
