What is NIRSAL and What They Do
NIRSAL is an initiative of the Central Bank of Nigeria (CBN), the Bankers Committee (BC) and the Federal Ministry of Agriculture & Rural Development (FMA&RD).
Headed by Aliyu A. Abdulhameed he was appointed Managing Director and Chief Executive Officer of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) on 23rd December 2015.
The Nigeria Incentive-Based Risk Sharing system for Agricultural Lending (NIRSAL) was launched in 2011 and incorporated in 2013 by the Central Bank of Nigeria (CBN) as a dynamic, holistic USD500 Million public-private initiative to catalyse the flow of finance and investments into fixed agricultural value chains.
They specialize in Value Chain Fixing, Agribusiness Project Development, Finance Facilitation and Agricultural Risk Management.
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What they do CRG is a core product offered by NIRSAL for minimizing the risks associated with agriculture and agribusiness finance and investments.
By sharing up to 75% of credit risks, the NIRSAL CRG provide guarantee to financiers and investors and encourages lending to the sector.
NIRSAL does two things at once; fixes the agricultural value chain, so that banks can lend with confidence to the sector and, two things at once; fixes the agricultural value chain, so that banks can lend with confidence to the sector and, encourages banks to lend to the agricultural value chain by offering them strong incentives and technical assistance.
