Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso has reportedly sacked key members of the executive management team of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL).
Saturday Telegraph quoting an insider source reports that three top executives have been relieved of their duties.
Those affected include Abbas Masanawa, the Managing Director and Chief Executive Officer; Kennedy Nwaruh, Executive Director of Operations; and Olatunde Akande, Executive Director of Technical.
Newsband gathered that the abrupt leadership change has created a wave of anxiety among NIRSAL employees, as many fear this could be the beginning of a broader round of layoffs within the organization.
“We were informed of the changes on Friday evening through email. A board meeting was scheduled for that morning but was canceled, leaving us uncertain about what will come next. More details should emerge by Monday,” the source sais.
NIRSAL Plc, a non-bank financial institution owned by the CBN, was established to redefine, assess, and manage credit risks associated with agribusiness in Nigeria.
The agency has been embroiled in corruption allegations, with its former Managing Director, Mr. Aliyu Abdulhameed, currently facing charges from the Economic and Financial Crimes Commission (EFCC).
Recently, a private consultant returned ₦1.5 billion to the EFCC to avoid conviction in a case involving Abdulhameed.
The anti-graft agency had sought the interim forfeiture of the funds, claiming they were proceeds of unlawful activities.
Meanwhile, both the consultant and Abdulhameed maintained that the money was legitimately earned under a contract approved by NIRSAL’s board.
