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ISLAM: Anchor Borrowers’ Fraud (2)

This is the second in my article series to narrate a tortuous three-year journey and five applications that unveiled the fraud in the Anchor Borrowers’ Programme (ABP) of the Central Bank of Nigeria (CBN). If you have read the first article, you will quickly grasp this continuation of the harrowing tale of how a cabal in the CBN sabotaged President Muhammadu Buhari’s rice revolution and defied the edicts to make it a success.


Our third application for the Wet Season Maize was submitted at the CBN on February 22, 2021. Because of our sore experience with the Rice Champion, who unjustly blacklisted Comerel Farms, we had to use another company for the Saminaka project. Any person who evaded the CBN Governor’s orders emanating from His Eminence’s intercession in this and any other case must be acting on the strength of the unknown. Therefore, Wallmark Multi-Concepts Limited was the company presented for the maize farming programme in Saminaka. The team was Comerel’s, the one that worked on the ill-fated Sokoto Wet Season Rice project, but with the addition of two experts: one was the Manager of the farm of a former governor of Kaduna State; the other a consultant of repute with World Bank agricultural projects in Nigeria.


We established an elaborate project and quickly became the go-to company for all farmers in Saminaka and its environs, one of the largest maize-producing areas in Nigeria. More than ten thousand genuine, verifiable farmers enlisted with us. On April 8, 2021, after making its due diligence part in the project, our Participating Financial Institution (PFI) wrote a letter to the Director of the Development Finance Department of the CBN to inform him concerning Wallmark’s application and the Bank’s readiness “to partner with” us “for the disbursement of the funds under” the ABP.

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