Central Bank of Nigeria (CBN) has terminated the appointments of all executive directors at Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL).
THEMOMENTNG reports that NIRSAL is a non-bank financial institution owned by CBN.
It was founded in 2013 and established to redefine and manage agribusiness-related credit risks in Nigeria.
The dismissal of the executive directors is the latest in a series of staff reductions at CBN since the appointment of the apex bank Governor, Olayemi Cardoso last year.
The dismissed officials include Managing Director and Chief Executive Officer Abbas Umar Masanawa, Executive Director of Operations Kennedy Nwaruh, and Executive Director of Technical Olatunde Akande.
According to a NIRSAL official, the remaining staff are awaiting further clarity on circumstances surrounding their dismissals.
According to CBN; the officials were dismissed due to an ongoing major organisational and human capital restructuring process.
