Barely three weeks after the reconstitution of the Board of Directors of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc.), the new members of the Board were inaugurated at their 21st meeting held on Tuesday in Abuja.
The new Board members are Deputy Governor, Economic Policy, Central Bank of Nigeria (CBN), Muhammad Sani Abdullahi, who is to serve as the Chairman while Mallam Ado Wanka, Dr. Daphne Dafinone, Mr. Hamidu Sa’ad, Dr. Bankole Allibay, and Hon. Shehu Balarabe, are Non-Executive Directors.
A statement by the non-bank financial institution’s Head, Corporate Communications, Jude Nnadozie, indicated that the newly inaugurated Board members harped on the need to refocus NIRSAL Plc back to its core mandate of de-risking agricultural lending.
To achieve this, a development finance expert, with experience from International Finance Corporation (IFC), the World Bank, United Nations Development Programme (UNDP), Ekiti State Government, and Southwest Agric Company (SWAgCo), Mr. Babajide Arowosafe, was appointed as the new Managing Director and Chief Executive Officer (CEO) of the entity.
NIRSAL Plc is a non-bank financial institution owned by the Central Bank of Nigeria (CBN) and created to redefine, dimension, measure, re-price and share agribusiness-related credit risks in Nigeria.
