By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-United Bank for Africa Plc (UBA) and Zenith Bank Plc are amongst the highest disbursing Banks on Commercial Agriculture Credit Scheme (CACS) in July 2012.

According to the Economic Report for July 2012 by the Central Bank of Nigeria, data made available to www.investadvocateng.com shows that out of the 18 participating Banks, UBA and Zenith were the top two to have disbursed the highest amount for the projects.

Out of the total amount of N198.00 billion released by the CBN at the end of July 2012 for participating Banks to the Agricultural Credit Scheme, UBA and Zenith has disbursed N41.76 billion and N26.96 billion for 35 and 18 projects respectively.

The CBN affirms that the N1908.00 billion released was disbursed for 258 projects/promoters.

“At end-July 2012, the total amount released by the CBN under the Commercial Agriculture Credit Scheme (CACS) to the participating Banks for disbursement stood at N198.00 billion for two hundred and fifty eight (258) projects/promoters” the Report said.

Other Banks on the park following UBA and Zenith Bank include First Bank of Nigeria Plc (FBN), disbursing N22.19 billion for 60 Projects, while Union Bank of Nigeria Plc (UBN) and Unity Bank Plc disbursed N17.92 billion for 20 Projects and N19.51 billion for 21 Projects respectively.

In the same vein, the CBN Economic Report for July 2012 affirms that a total of N695.75 million was guaranteed to 4,760 farmers under the Agricultural Credit Guarantee Scheme (ACGS) in July 2012.

The CBN said this represented a decline of 10.9 and 49.5 percent below the levels in the preceding month and the corresponding period of 2011, respectively.

The Economic Report further affirmed that a sub-sectoral analysis of the loans guaranteed indicated that the food crop sub-sector had the largest share of N429.7 million (61.8%) guaranteed to 3,346 beneficiaries, the livestock sub-sector received N145.4 million (20.9%) for 447 beneficiaries, while fisheries sub-sector received N33.7 million (4.8%) guaranteed to 87 beneficiaries.

CBN said the cash crops sub-sector had N11.1 million (1.6%) for 48 beneficiaries. “Others” received N49.1 million (7.1%) for 49 beneficiaries, while the mixed crops received N26.8 million (3.9%) guaranteed to 393 beneficiaries.

According to the Report, analysis by state showed that 33 states (including the FCT) benefited from the Scheme during the month under review, with the highest and lowest sums of N138.6 million (19.9%) and N0.4 million (0.1%) guaranteed to Katsina and Borno States, respectively.