December 03, (THEWILL) –Â The Managing Director and Chief Executive Officer of the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Aliyu Abbati Abdulhameed, has been suspended.
A source familiar with the development, told THEWILL that the suspension followed an advisory by the Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), over alleged corruption allegations against Abdulhameed.
Launched in 2011 and incorporated in 2013 by the Central Bank of Nigeria (CBN), NIRSAL was set up to be a dynamic and holistic $500 million public-private initiative, which will catalyse the flow of finance and investments into fixed agricultural value chains.
However, recent reports have fingered the management in several corruption allegations.
A report had alleged how a multi-billion naira loan guaranteed by NIRSAL for three investor companies for the cultivation and harvest of 20,000 hectares of dry season wheat in Kano and Jigawa, was diverted by the companies in connivance with NIRSAL officials.
Abdulhameed and other officials of NIRSAL were invited by the Economic and Financial Crimes Commission (EFCC) for questioning, over their involvement in the wheat project scandal.
Apart from the EFCC, the Independent Corrupt Practices Commission (ICPC) and the Police, also investigated the matter
Abdulhameed had denied the allegation, insisting it was masterminded by faceless individuals to tarnish his image and that of the organisation.
The source hinted that the EFCC had requested President Muhammadu Buhari, to act on the graft allegations against Abdulhameed, adding that the President had directed the NIRSAL Board to act accordingly following an advisory from the AGF that only the board is legally empowered to sack or suspend Abdulhameed.
THEWILL gathered that a meeting of the Board, chaired by the Central Bank Governor, suspended Abdulhameed after he was given a fair hearing.
The suspension, our source added, would allow the EFFCC to carry out unimpeded investigations into the graft allegations against Abdulhameed.
