The Role Of The Nigerian Agriculture And Co-operative Bank In Agricultural Financing (problems And Prospects)

ABSTRACTThe major function of the Nigerian Agricultural, co-operative, Rural and Development Bank is provision of loans and advances to individual and corporate farmers.However, there are series of reasons for the need for special funding towards agricultural sector. The agricultural sub-sector is saddled with peculiar risks, risks that can hardly be diversified; illiteracy and ignorance; culture; interest rate, etcLoan defaults occur when the borrowers can not meet up the repayment of principal and interest within the maturity time stipulated by the bank. Loan defaults have continued to incre…