The Federal Government says one hundred billion out of the two hundred billion naira agriculture fund it recently approved for the development of commercial agriculture was still domiciled with two commercial banks.

The Minister of Agriculture and Water Resources, Doctor Sayyadi Ruma, made this known in Abuja in an interview with Newsmen.

Doctor Ruma said government had not directed that the one hundred billion naira be returned to the Central Bank of Nigeria (CBN) as being speculated in some quarters.

He explained that the two commercial banks would soon commence the disbursement of the loan to the beneficiaries.

He said the CBN, the two participating banks and the ministry had published the list of beneficiaries of the loan, adding, the roll-out has commenced.

Doctor Ruma said the decision to dedicate twenty per cent of the fund to the smallholder farmers through the various state governments was intact.

The Minister said government had also put in place, necessary arrangements to ensure that smallholder farmers who did not possess the required collateral have access to the fund.

According to him, registration of farmers, which is part of the requirements to access the loan, would start in two weeks under the agriculture census scheme.

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