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Emefiele okays Abdulhameed as NIRSAL MD

By on December 26, 2015

The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, has approved the appointment of Mr. Aliyu Abdulhameed as the Managing Director of the Nigerian Incentive-Based Risk Sharing System for Agriculture Lending.

The bank, in a statement on Wednesday, also said the governor approved the appointment of Mr. Babajide Arowosafe as the Executive Director (Technical) of NIRSAL.

The statement said the appointments were approved after a competitive process that saw the emergence of the two executives of the agency.

It said the appointment underscored the CBN’s determination to refocus NIRSAL and help de-risk agriculture lending in Nigeria.

“The bank is confident that this will help in moving the country towards food sufficiency, job creation and inclusive growth,” it added.

In the area of lending, the statement said the central bank had so far guaranteed a total of 454 projects valued at N61.16bn under the NIRSAL initiative

It added that the sum of N753.36m had been paid out as interest rebate to borrowers who repaid promptly so as to encourage good payment behaviour and minimise the rate of default.

The CBN also said through the programme, a total number of 24.142 farmers had been trained across the country.

The NIRSAL is an initiative of the CBN, the Bankers Committee and the Federal Ministry of Agriculture and Rural Development.

It was set up to identify, redefine, measure, reprice and evolve strategies to de-risk and catalyse lending to the Nigerian agriculture value chain.
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