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CBN names acting MD for NIRSAL

Following the removal of the Managing Director of the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL) a new helmsman has been appointed in…

Following the removal of the Managing Director of the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL) a new helmsman has been appointed in an acting capacity.

Mr Saad Hamidu of the Development Finance Department of the Central Bank of Nigeria has been seconded to replace Aliyu Abdulhameed who was fired last Thursday following a series of petitions bothering on corruption against him.

A copy of Hamidu’s appointment Dated December 6, 2023, a copy of which Daily Trust obtained reads, “I am pleased to inform you of your secondment and appointment to the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) Plc as the Acting Managing Director.”

The letter signed by Godwin Emefiele, Chairman Board of Directors of NIRSAL stated that Hamidu’s appointment was on a temporary basis for an initial period of three months or “upon your recall to the CBN, whichever one is earlier.”

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“I hope you will serve meritoriously to justify the confidence reposed in you with this appointment,” the letter reads.

Sources at NIRSAL confirmed to Daily Trust that the acting managing director resumed duties yesterday.

Daily Trust reports that the embattled former MD’s sack was endorsed by the Board of the CBN following approval from the Presidency.