The Bank of Agriculture has announced a reform program aimed at stopping subsidized farm loans from being diverted to so-called political farmers, as it works to ensure interventions reach genuine smallholders.

Managing Director Ayodeji Oludare Sotinrin said the bank had overhauled its loan verification system, introducing technology driven credit profiling that combines Bank Verification Number validation, Know Your Customer checks and GPS farm mapping to permanently eliminate fictitious beneficiaries and middlemen.

He said the reforms were part of a wider roadmap to modernize operations, expand grassroots financial inclusion and support the government’s food security agenda, adding that the bank remained committed to single digit interest loans that shield smallholders from high commercial rates.

Sotinrin said the bank was deepening partnerships with state platforms, licensed input suppliers and development partners, and had signed an agreement with the UNDP to align its revitalization program with the agency’s Integrated Smart States Program, including a One Million Hectare Tree Crop Initiative described as a presidential priority.

He said a digital transformation program, backed by UNDP technology support, would include solar powered facilities across the bank’s 110 branches and new digital farmer and agency banking platforms. All Farmers Association of Nigeria President Muhammad Magaji backed the stricter verification while calling for faster disbursement aligned with planting seasons.