Thursday, 13 August 2020

AAD Scheme: CBN, Ayade turns back on Prince Michael Abuo


Ukorebi Esien | 13th August 2020



According to two documents sighted by our reporter, the Central Bank of Nigeria, implementers of the Accelerated Agricultural Development Scheme, and Governor Ben Ayade of Cross River state have denied Prince Michael Nku Abou distancing themselves from Michael's act in the Accelerated Agricultural Development Scheme (AADS) in the State.


The letter signed by the Head, Development Finance Department reads in part "...We wish to state here that Prince Michael Nku Abou is not known to the Finance Development Department, CBN, Calabar in any capacity, neither is he a member of the Project Management Team (PMT) as regards the AADS in Cross River State... CBN is not aware of his appointment nor affirmation as a Cordinator of any CBN interventions. ...his actions constitute great reputational risk..."

In a related document from the office of the Cross River State Commissioner Commissioner of Agriculture, our reporter also sighted the governor's minute which reads "Prince Michael Nku Abou is DG Cross River Migration Agency Not Agriculture".


With these, it is very clear that Michael may have been acting on his own accord with regards to his activities in the Central Bank Facilitated AAD Scheme in Cross River state. 

Commissioner for Agriculture and Natural Resources Ntufam Okon Owuna during a media briefing in Calabar had warned Stakeholders in the Agricultural Sector, farmers, Local Government Chairmen, Paramount Rulers, and Clan Heads to stop dealings with him

He said the program was flagged off by the governor of the state, Senator Ben Ayade in July 2018 at the Industrial Park and all processes have been completed for the award of loan to beneficiaries by his predecessor before he assumed office and the recent claims by Abuo that he facilitated the program into the state is not true.

" Two thousand beneficiaries have been selected by the Central Bank of Nigeria even before I assumed office so what Abu is doing by asking people to pay 3000 and 50,000 administrative charges to be enlisted into the program is fraudulent because CBN programs are free".

The broad objective of the AADS is to increase agricultural production towards food security, job creation, and economic diversification.

Prince Michael had in earlier publications circulated on social media claimed that he was authorized by the governor to go ahead with the project stating that he is recognized by CBN headquarters in Abuja. 


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