In a sweeping move to streamline operations and enhance accountability, the Central Bank of Nigeria (CBN) has terminated the appointments of all executive directors at the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL). This decisive action was sanctioned by the Governor of the CBN, Olayemi Cardoso, on Friday, marking a significant shift in the leadership of the agency.
The executives affected by this decision include Abbas Umar Masanawa, who served as the Managing Director and Chief Executive Officer; Kennedy Nwaruh, the Executive Director of Operations; and Olatunde Akande, the Executive Director of Technical Affairs. Their removal is the latest in a series of staff changes at the central bank since Cardoso assumed office last year.
The dismissals are part of an ongoing effort to restructure the CBN’s affiliate organizations and ensure they align with the strategic objectives set forth by the new leadership. Observers believe that this move could lead to a more robust and efficient management framework within NIRSAL, aimed at better supporting agricultural lending and mitigating risks in the sector.
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