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Ex-NIRSAL Boss, Abdulhameed Arrested Over N5.6bn Wheat Challenge Rip-off
Mr Aliyu Abdulhameed, a former Managing Director of the Nigeria Incentive-Primarily based Danger Sharing System for Agricultural Lending (NIRSAL), has been arrested virtually a yr after his sack.
NIRSAL is a $500m non-bank monetary establishment, which was created by the Central Financial institution of Nigeria (CBN).
It was created to handle agribusiness-related credit score dangers in Nigeria.
Recall that Abdulhameed was relieved of his duties following allegations of corruption, together with a 2018 N5.6 billion wheat venture meant for farmers in Kano and Jigawa States.
The Board of the CBN endorsed his sack, following approval from the Presidency in December final yr.
Investigation was carried out January final yr on how a multi-billion-naira mortgage assured by NIRSAL for 3 investor corporations for the cultivation of 20,000 hectares of dry season wheat in Kano and Jigawa States was allegedly diverted by the businesses in connivance with NIRSAL officers.
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In the middle of the investigation, the platform revealed that it visited the affected communities within the two states the place farmers stated they have been deceived.
Group leaders there stated they have been informed the venture was geared toward altering the lives of 20,000 smallholder farmers.
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They stated after making farms accessible, affected farmers have been promised fertiliser and different inputs for the wheat plantation, however by no means noticed any of those thereafter.
Each Abdulhameed and the three investor corporations had denied wrongdoing.
Nonetheless, when the Particular Investigator appointed by President Bola Tinubu and his help workforce to probe the actions of the apex financial institution and associated entities swung into motion in September this yr, there was panic and apprehension inside the high hierarchy of the CBN and the NIRSAL.
The Particular Investigator, Jim Obazee and his workforce, led by DCP Eloho, have been stated to have beamed searchlight on the NIRSAL and the CBN’s Anchor Debtors’ Programme which have, through the years, been on the centre of investigations.
