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Fact-check: The article directly quotes Ilelaboye Segun, BOA's Divisional Head of Risk Management and Control, stating over 70% loan defaults due to fragmented farming at a recent event on March 6, 2026, as reported by reputable Nigerian outlet BusinessDay. No contradicting evidence found in web searches, which only reference this article, and lack of X posts is consistent with very recent niche financial disclosure rather than viral breaking news.

Fragmented farming system drives 70% loan defaults among farmers — BOA

bank-of-agriculturefarmingloan-defaultsagriculturefinancenigeria

The Bank of Agriculture has reported that over 70% of loans given to farmers have defaulted, attributing the high default rate to a fragmented farming system. This issue highlights the challenges faced by farmers in managing their finances and repayment of loans. The bank's disclosure underscores the need for a more cohesive and supportive farming system to help farmers overcome financial difficulties.

The Bank of Agriculture (BOA) has disclosed that more than 70 percent of loans by farmers are yet to be read more Fragmented farming system drives 70% loan defaults among farmers — BOA ]]>

Fragmented farming system drives 70% loan defaults among farmers — BOA

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