The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending, (NIRSAL) has facilitated over N102 Billion as loans from Deposit Money Banks (DMBs) for various activities in the Agricultural Value Chains in the country.
The institution’s Managing Director, Mr. Aliyu Abdulhameed, disclosed this in a chat with journalists in Abuja.
According to the MD, NIRSAL has paid out a total of N4.6 Billion as claims to providers of finance (Deposit Money Banks) on Credit Risk Guarantees that crystallized.
An additional N1.2 Billion, he said, has been paid to prudent borrowers as Interest Drawbacks who have found their cost of funds and businesses boosted as a result.
NIRSAL Plc, a wholly-owned corporation of the Central Bank of Nigeria (CBN), is a US$500million Non-Bank Financial Institution specifically designed to Redefine, Measure, Re-Price and Share agribusiness-related credit risk.