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CBN to crash price of maize as it releases 50,000 MT to 12 companies

CBN to crash price of maize as it releases 50,000 MT to 12 companies
nairametrics.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nairametrics.com Daily Mail and Mail on Sunday newspapers.

CBN releases 50,000MT of maize to 12 coys to crash price

Daily Trust reports that the release of maize to the companies, which is the third of such releases, is also intended to check the activities of middlemen aimed at hoarding the product and causing artificial scarcity. The CBN listed recipients of the grains to include Premier Flour Mills, Crown-Olam, Grand Cereals, Animal Care, Amobyn and Hybrid Feeds. Others include Obasanjo Farms, Zartech, Wacot, Sayeed Farms, Pandagri Novum and Premium Farms. Confirming this, CBN spokesman, Osita Nwanisobi, said the release would crash the price of maize, reduce pressure on the market, and make the product directly available to feed producers, thereby reducing the price of poultry feed.

Olam, Premier Flour benefit as CBN releases 50,000mt of maize

ON THE GO UTME now compulsory for scholarship beneficiaries, says amnesty programme coordinator Milland Dikio, interim administrator of the presidential amnesty programme (PAP), says beneficiaries of the agency’s scholarship scheme must participate in the unified tertiary examination of the Joint Admissions and Matriculation. NSF: Lagos athlete wins men’s 110m hurdles Abejoye Oyeniyi of Lagos state has claimed the gold medal in men’s 110 meters hurdles at the ongoing National Sports Festival (NSF).Advertisement Oyeniyi finished first to claim the top prize. COVID: 140m children may fall below poverty line, says UNICEF Henrietta Fore, executive director of the United Nations International Children’s Fund (UNICEF), says as a result of the coronavirus pandemic, 140 million children are likely to fall below the poverty.

Food Security: Stakeholders offer opposing views on border re-opening

By Jimoh Babatunde & Gabriel Ewepu The Central Bank of Nigeria has in recent years come up with different programmes to grow the country’s agriculture and ensre food security in the country. One of such programmes is the Anchor Borrowers’ Programme. Under the programme, the CBN set aside N40 billion, out of the N220 billion Micro, Small and Medium Enterprises Development Fund (MSMEDF) to be given to farmers at a single-digit interest rate of maximum nine percent per annum. As part of the apex bank’s financing framework, the CBN has facilitated the funding of rice and maize farmers and processors through the Anchor Borrowers’ Programme, Commodity Association, Private/Prime Anchors, State Governments, Maize Aggregation Scheme (MAS), and the Commercial Agricultural Credit Scheme (CACS).

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