CBN plans price crash, releases 50,000MT of maize to Crown-Olam, others The Punch
Published 29 June 2021
The Central Bank of Nigeria has approved the release of 50,000 metric tonnes of maize to 12 major producers from strategic maize reserve under the Anchor Borrowers’ Programme.
According to the CBN, the release of maize to the companies, which is the third of such releases, will reduce the price of grain in the market by checking the activities of middlemen who are hoarding the product and causing artificial scarcity.
The listed recipients of the grains include Premier Flour Mills, Crown-Olam, Grand Cereals, Animal Care, Amobyn Hybrid Feeds, Obasanjo Farms, Zartech, Wacot, Sayeed Farms, Pandagri Novum and Premium Farms.