The Central Bank of Nigeria (CBN) has terminated the appointments of all executive directors at the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL).
This decision, approved by CBN Governor Olayemi Cardoso on Friday, represents the latest in a series of staff reductions at the apex bank since his appointment last year.
The executive directors dismissed include Managing Director and Chief Executive Officer Abbas Umar Masanawa, Executive Director of Operations Kennedy Nwaruh, and Executive Director of Technical Olatunde Akande.
According to a NIRSAL official, the remaining staff are awaiting further clarity on the circumstances surrounding these dismissals.
https://googleads.g.doubleclick.net/pagead/ads?gdpr=0&client=ca-pub-1896573800096815&output=html&h=143&slotname=9983208361&adk=1656613313&adf=759284180&pi=t.ma~as.9983208361&w=570&abgtt=6&fwrn=4&lmt=1725129699&rafmt=11&format=570×143&url=https%3A%2F%2Ftribuneonlineng.com%2Fcbn-sacks-nirsal-executive-directors%2F&host=ca-host-pub-2644536267352236&wgl=1&uach=WyJBbmRyb2lkIiwiNy4wLjAiLCIiLCJOT1RFQk9PSzciLCIxMTkuMC42MDQ1LjE5MyIsbnVsbCwwLG51bGwsIiIsW1siR29vZ2xlIENocm9tZSIsIjExOS4wLjYwNDUuMTkzIl0sWyJDaHJvbWl1bSIsIjExOS4wLjYwNDUuMTkzIl0sWyJOb3Q_QV9CcmFuZCIsIjI0LjAuMC4wIl1dLDBd&dt=1725132600377&bpp=9&bdt=4398&idt=4448&shv=r20240828&mjsv=m202408280101&ptt=9&saldr=aa&abxe=1&cookie=ID%3Ddd8908ef4a61a543%3AT%3D1724141797%3ART%3D1725002719%3AS%3DALNI_MZ09zdPmBuajqMqUUMeDSaxnEeUMQ&gpic=UID%3D00000ed1703be0f5%3AT%3D1724141797%3ART%3D1725002719%3AS%3DALNI_MZIgeYSPy__eGI_wgwCIdiYpfseKg&eo_id_str=ID%3D4739aff2b42248cf%3AT%3D1724141797%3ART%3D1725002719%3AS%3DAA-AfjbA1iRuWlUDbc43b6nv7YpP&prev_fmts=0x0%2C610x280&nras=1&correlator=4374490999073&frm=20&pv=1&rplot=4&u_tz=60&u_his=2&u_h=976&u_w=610&u_ah=976&u_aw=610&u_cd=24&u_sd=1.313&dmc=8&adx=20&ady=1192&biw=610&bih=808&scr_x=0&scr_y=0&eid=44759875%2C44759926%2C44759837%2C31086546%2C31086550%2C31086551%2C95331687%2C95338228%2C95341662%2C31086664%2C95340844%2C95341514%2C95341519&oid=2&pvsid=4168733264087619&tmod=917613373&uas=0&nvt=1&ref=https%3A%2F%2Fwww.google.com%2F&fc=1920&brdim=0%2C0%2C0%2C0%2C610%2C0%2C610%2C807%2C610%2C808&vis=1&rsz=%7C%7CEebr%7C&abl=CS&pfx=0&fu=128&bc=31&bz=1&td=1&tdf=0&psd=W251bGwsbnVsbCxudWxsLDNd&nt=1&ifi=3&uci=a!3&btvi=1&fsb=1&dtd=6183
The CBN cited an ongoing major organisational and human capital restructuring process as the reason for the terminations.
NIRSAL, a non-bank financial institution wholly owned by the CBN, was established to redefine and manage agribusiness-related credit risks in Nigeria.
