CARDOSO DISMISSES NIRSAL EXECUTIVE MANAGEMENT

August 31, 2024

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The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has 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.

The pioneer Managing Director, Mr. Aliyu Abdulhameed, had earlier been sent away over an alleged multi-billion Naira fraud and has been 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 were : Kennedy Nwaruh, Executive Director, Operations; and Olatunde Akande, NIRSAL Plc’s Executive Director, Technical.

It was not clear if other staff in the Directorate cadre would be affected in further similar exercises.

But it was learnt that uncertainties about the fate of other senior staff was of a great concern to the workers.