The CBN denied the claim, however, saying that while some of the farmers benefited from ABP loans they refused to pay them back.

Speaking to journalists at the Norwegian Seafood Seminar in Lagos, fish farmers said they had met all requirements for accessing funds but that banks were not granting them loans.

Frijay Consult Managing Director Jerry Uwheraka, whose company perfected all the required documentation three years ago, said she was still waiting for her loan application to be approved.

Uwheraka alleged that banks and the CBN were working together to the disadvantage of fish farmers by not approving applications submitted by farm groups. Uwheraka accused the banks of not being ready for implementation of policies designed to help farmers.

According to her, “The banks cannot even tell us the reason our loan applications are not approved, we just keep going back and forth, just for them to approve the applications. We have been waiting for some time and we have spent money to build farms. Most times the commercial banks will say they are waiting for approval from the Head office.

“We have even gone further to source for markets for farmed fish and up till this moment, the banks have refused to approve our applications.

“Even CBN has a portal through which they can actually approve applications but in that portal, you will discover that there is still an obstacle. We have challenged them to try a few of us and follow through to see how far we can go.”