NIRSAL Plc Gets New Board, Eyes Core Mandate
By Patience Ikpeme
The Federal Government has reconstituted the board of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc), appointing Mr. Babajide Arowosafe as the new Managing Director and Chief Executive Officer.
Arowosafe, a seasoned development finance expert with experience from international organizations like the IFC, World Bank, and UNDP, brings a wealth of knowledge to his new role. His previous experience in both government and private sectors will undoubtedly be instrumental in steering NIRSAL Plc towards its core mandate of de-risking agricultural lending.
The reconstituted board, which includes members from the Central Bank of Nigeria and other relevant sectors, was inaugurated at its 21st meeting on Tuesday, September 10, 2024.
The new board members are: Mr. Muhammad Sani Abdullahi, Deputy Governor, Economic Policy, Central Bank of Nigeria – Chairman; Mallam Ado Wanka, Non-Executive Director; Dr. Daphne Dafinone, Non-Executive Director; Mr. Hamidu Sa’ad, Non-Executive Director; Dr. Bankole Allibay, Non-Executive Director and Hon. Shehu Balarabe, Non-Executive Director.
In a statement released by NIRSAL Plc, the board members agreed on the necessity to refocus the company on its core mandate. This aligns with the Federal Government’s commitment to promoting agricultural development and ensuring food security in Nigeria.
NIRSAL Plc, established to address the challenges faced by agricultural lenders, plays a crucial role in creating an enabling environment for agricultural financing. With the new board in place and a renewed focus on its core mandate, the company is poised to make significant contributions to the growth of the agricultural sector in Nigeria.
