|
NACRDB IN
PERSPECTIVE
The birth of the Nigerian
Agricultural, Cooperative and Rural Development Bank (NACRDB) Limited as
the single largest development finance institution in Nigeria followed
the successful merger of the former People’s Bank of Nigeria (PBN);
the defunct Nigerian Agricultural and CO-operative Bank (NACB) Ltd. And
the risk assets of the Family Economic Advancement programme (FEAP) in
October, 2000. Thus; NACRDB is dedicated primarily to agricultural
financing at both the micro and macro levels, as well as micro financing
of small and medium scale enterprises. The Bank is a registered limited
liability company that is wholly owned by the Government of the Federal
Republic of Nigeria with the share capital fully subscribed by the
Federal Ministry of Finance Incorporated 60% and the Central Bank of
Nigeria 40%. The Bank’s briad mandate encompasses savings mobilization
and the timely delivery of affordable credit to meet the funding
requirements of the teeming Nigeria population in the agricultural and
non-agricultural sectors of the national economy. |
