The Bank of Agriculture (BOA) says it has introduced stringent, data-driven credit-profiling processes for farmers to curb the activities of middlemen.
The Managing Director of the bank, Ayodeji Sotinrin, made the disclosure in a statement issued in Abuja on Friday.
Mr Sotinrin said the measures included the Bank Verification Number (BVN), know-your-customer (KYC) protocols, and GPS-based farm mapping.
The Managing Director also said the digital safeguards would guarantee that public funds and farm inputs reached genuine, actively practising farmers and cooperatives.
Mr Sotinrin said the bank had also upgraded its digital verification platform to ensure the transparent deployment of farm inputs to genuine farmers, curbing systemic resource diversion by portfolio farmers and middlemen.
According to him, the move aims to modernise the institution’s operations, expand grassroots financial inclusion, and drive Nigeria’s agricultural transformation.
The move aims to modernise the institution’s operations, expand grassroots financial inclusion, and drive Nigeria’s agricultural transformation.
The Managing Director reiterated the bank’s commitment to the federal government’s national food security agenda.
He said the upgrade was designed to optimise the delivery of agricultural intervention programmes and empower smallholder farmers across the country.
“For the BOA, ensuring transparency and accountability in the disbursement process is paramount. The BOA is aggressively modernising its nationwide footprint and driving financial inclusion in the hinterlands.
“Alongside the ongoing deployment of solar energy across its 110 branch networks to ensure uninterrupted service, the BOA is introducing digital farmer systems and strategic agency banking models.
“This bridges the geographic gap, allowing the bank to bring financial and extension services directly to the farm gate, moving beyond traditional brick-and-mortar limitations,” he said.
Mr Sotinrin said the bank would welcome continuous engagement with genuine commodity associations, verified grassroots cooperative societies, and other stakeholders. (NAN)
