Home / Agriculture / CBN, Yobe Microfinance Bank Awards 3 Best Farmers, Launches Social Grant 

CBN, Yobe Microfinance Bank Awards 3 Best Farmers, Launches Social Grant 


By Sani Gazas Chinade, Damaturu



The Managing Director/Chief Executive Officer of the Yobe Microfinance Bank Limited in collaboration with the Central Bank of Nigeria (CBN) has awarded three farmers with the 2021 Best Farmer Award and launched the Social Grant insurance financing product of Yobe Microfinance Bank.



In his welcome address, the Director of Development Finance of the CBN appreciated Yobe State Governor Mai Mala Buni for his magnanimity towards improving the agricultural sector which took place at the Banquet Hall, government house, Damaturu.



In his goodwill message, Alhaji Mohammed Abacha said that agriculture has helped the Yobe people, especially during the peak of the Covid-19 pandemic in the state.

The Managing Director/Chief Executive Officer of Yobe Microfinance Bank Limited, Sherrif Almuhajir said that the program is salvaging the people of the state from hardships.



On his part, the BRICC Program Manager, Paul Enude explained that Mercy Corps is the lead Consortium partner implementing the BRICC Programme together with Cooperazione Internazionale (COOPI) and Danish Refugee Council (DRC) and in active collaboration with the Yobe State Government The project is funded by the European Union (EU).



He added that the program is “to build the resilience capacities of 26,875 households in Yobe State, to increase their ability to cope with the shocks and stresses of conflict, climate change and complex crisis, and transform the underlying causal dynamics to reduce the risk of future conflict.



“Vulnerable and conflict-affected households meet their basic needs, increase savings, and have improved access to basic health, WaSH, and nutrition services”.



“Vulnerable and conflict-affected households have restored and improved livelihoods that are more resilient to conflict and climate shocks and stresses”.

He said that the approach was Active community consultation and leadership in the implementation, implement through market systems (Public and private sector) Avoiding duplication, Inclusive and responsive processes (age, gender, disability, Government, positions) Government consultation and engagement at all phases”.



“Complement existing programmes Align with State and LGA priorities Beyond cash-making markets work in a crisis, Strengthen the capacity of conflict management and mitigation Strengthen capacity for governance”.

Others are”Access to credit through savings and Investment Associations Talking Points, Identification and Recruitment of about 50 CBFs from the respective 30 communities. Working with MORA and YSU Centre for Islamic research to review and adapt the Adashen Gata model Sensitization of community members and community stakeholders on the Adashen Gata model of the SIA manual of the SIAmethodology”.



“Formation of 305 SIA groups across 6 LGAs of Yobe state, Groups were formed with averagely 25 individuals per group with a total of 7625 Participants in total across 6 LGAs”

“Across the consortium in its Y2 outlook, the groups saved NGN44,264,980 (98,366 Euro) and social funds With an initial meeting with the Yobe Microfinance bank, the BRICC Consortium understood the available at NGN4,631,130 (10,291 Euro).



“Financial products of the bank and groups ready for Accessing the Product. Worked with Commercial and Government-owned banks to develop the financial products. Groups registration with small and medium scale enterprises to formalize documentation for existence. Finalized constitutions and group financial records Finalization

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