CBN Governor Sacks NIRSAL Executive Directors

By Damilare Adeleye

Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has reportedly sacked the Executive management of the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL).

A source at the organisation confirmed that the affected directors got their letters on Friday, August 30th.

It was recalled that the pioneer Managing Director, Aliyu Abdulhameed, had earlier been relieved of his appointment over an alleged multi-billion naira fraud which is under investigation.

His replacement, Abbas Umar Masanawa was removed in the latest exercise.

Although the CBN said the exercise was part of reorganisation, insiders said that it was part of the decision of Mr. Cardodo to remove those with unwholesome records.

What remained unclear was how all the directors would be involved in the mismanagement of the resources of NIRSAL.

Other directors who were sacked included: Kennedy Nwaruh, Executive Director, Operations; and Olatunde Akande, NIRSAL Plc’s Executive Director, Technical.

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