“Court Postpones ₦68bn Ecobank-Farmers Dispute to November 12”

The battle over Nigeria’s Anchor Borrowers’ Programme (ABP) funds took another dramatic turn in Bayelsa State this week as the High Court in Yenagoa adjourned proceedings in the ₦68 billion lawsuit filed by the Maize Growers, Processors and Marketers Association of Nigeria (MAGPMAN) against Ecobank Plc.

The legal clash stems from allegations that Ecobank made unauthorized deductions from farmers’ accounts, a move the association says led to massive financial losses. Under the federal government’s ABP, each of the 894 participating maize farmers was entitled to ₦182,461.02 with a repayment of ₦198,862.04. Court filings, however, indicate that deductions reportedly ranged between ₦205,000 and ₦400,000, far exceeding approved amounts.

Presiding judge Justice Amaebi Orukari ordered that all witnesses must appear in court on November 12, 2025, warning that absentees will face a fine of ₦500,000. MAGPMAN is expected to call four witnesses, while Ecobank’s defense team will present one.

The dispute is emblematic of recurring challenges faced by Nigerian farmers in accessing and benefiting from government-led agricultural financing schemes. Since its inception, the Anchor Borrowers’ Programme was designed to bridge the financing gap in the agriculture sector, providing farmers with inputs and loans to boost production. Yet, allegations of irregular deductions, delayed disbursements, and lack of transparency have periodically sparked controversy, as seen in this lawsuit.

For MAGPMAN, the case represents not just financial restitution but a fight for the integrity of agricultural support programs. Hundreds of farmers, whose livelihoods depend on timely and accurate access to funds, are watching closely, highlighting the broader issue of bank accountability and compliance in handling government-backed schemes.

This latest adjournment underscores the fragility of trust between banks and farmers in Nigeria’s agricultural finance ecosystem. The November 12 hearing could set a precedent, influencing how banks interact with federal agricultural schemes in the future.

Bayelsa High Court adjourns ₦68bn lawsuit between MAGPMAN farmers and Ecobank Plc over disputed Anchor Borrowers’ funds, highlighting recurring challenges in Nigeria’s agricultural finance ecosystem.