Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reportedly fired key members of the executive management team of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL).
According to information obtained by Saturday Telegraph from an insider who wished to remain anonymous, three top executives have been relieved of their duties.
Those reportedly affected include Abbas Masanawa, the Managing Director and Chief Executive Officer; Kennedy Nwaruh, Executive Director of Operations; and Olatunde Akande, Executive Director of Technical.
The sudden change in leadership has created a wave of anxiety among NIRSAL employees, as many fear this could be the start of a broader round of layoffs within the organization.
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).
