CBN Staff Embroiled In Anchor Borrower
Programme Scandal

The department of State Service (DSS) has made shocking allegations against several staff members of the Central Bank of Nigeria (CBN), accusing them of aiding in the theft of public funds through the federal government’s Anchor Borrower Programme (ABP).

This bombshell claim has sent shockwaves through the financial community, raising
concerns about corruption and abuse of power within the CBN.

According to the DSS, the CBN staff members allegedly collaborated with private
companies to override guidelines and access funds meant for farmers, with no intention of repaying the loans.


This brazen scheme has put the entire ABP at risk, threatening the livelihoods of countless farmers and the nation’s food security.

The DSS’s allegations are part of a counter-affidavit in response to a lawsuit filed by
Ansar Technology Nigeria Ltd and its management.

The plaintiffs are seeking a declaration that the DSS lacks the power to investigate or
prosecute them for any act or omission related to the ABP.


However, the DSS maintains that its mandate includes detecting and investigating
economic crimes of national security dimension.

The agency is determined to get to the bottom of this scandal, ensuring that
those responsible are held accountable.

As the case unfolds, the CBN’s reputation hangs in the balance. The bank’s leadership
must take swift action to address these allegations and restore public trust. The nation demands transparency and accountability from its financial institutions, and anything less is unacceptable.


The ABP, launched in 2015, aimed to create economic linkages between smallholder
farmers and anchors. However, the programme has been plagued by controversy, with allegations of corruption and mismanagement surfacing regularly.


In a surprising twist, the CBN recently dismissed several directors accused of
mismanaging development funds, including the ABP. Insiders claim that the dismissed staff members were closely tied to former CBN Governor Godwin Emefiele.


As the investigation continues, Nigerians eagerly await the truth. Will justice prevail,
or will the perpetrators escape punishment.




(C)Business Ng