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The Bank of
Agriculture (BoA) says it will soon embark on an aggressive loan
recovery campaign. Managing Director Mohammed Santuraki made the
announcement on Wednesday in Kaduna at a forum organised by the
management to appraise the performance of the bank’s credit portfolio.
He said the era of treating the bank’s credit facilities as government
patronage was over, pointing out that the bank was determined to
operate professionally and in a sustainable manner. “The management
observes with dismay that the bulk of its non-performing loans is owed
by large- scale farmers while the small-scale farmers have better loan
repayment records. “The BOA management, in underscoring its resolve to
ensure full repayment, warns its defaulting clients to pay up as the
bank has resolved to use all legitimate means, including engaging the
support of the security agencies, to recover all outstanding loans,’’
Santuraki said. He said the loan recovery campaign was one of the
elements of the ongoing reform being undertaken by the management.