CBN releases 50,000 metric tons of Maize

The Central Bank of Nigeria has approved the release of 50,000 metric tonnes of maize to Obasanjo Farms and 11 other major feed producers.

The maize was released from the Strategic Maize Reserve under the Anchor Borrowers’ Programme as part of efforts to control the prices of the product in the Nigerian market.

Other recipients of the grains include Premier Flour Mills, Animal Care, Crown-Olam, Zartech, Grand Cereals, Amobyn and Hybrid Feeds, Wacot, Sayeed Farms, Pandagri Novum and Premium Farms.

Spokesman, Central Bank of Nigeria, Osita Nwanisobi, said the release of the maize to the companies, which is the third of such releases, is intended to check the activities of middlemen who hoard the product and are causing artificial scarcity.

Read more at source - EIN News Wire