The Central Bank of Nigeria (CBN), at the weekend sacked the entire management of the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL).
The sacked NIRSAL executives are the Managing Director and Chief Executive Officer, Abbas Umar Masanawa; Executive Director, Operations Kennedy Nwaruh and Executive Director, Technical, Olatunde Akande.
The decision was approved by CBN Governor, Olayemi Cardoso.
A NIRSAL official confirmed the development, describing it as shocking as most staff are currently panic-stricken, unaware of what to expect next.
“Yes, there was a shake-up announced on Friday evening. Most of us got to know of the development via email.“There was supposed to be a board meeting yesterday morning which was never held. I’m sure by Monday, the picture will get clearer. For now, everything is still under wraps” the source noted.