CBN Redeploys NIRSAL MD, Others As Olaitan Exits
UMORU ABDULKADIR
The Central Bank of Nigeria has announced the re-deployment of Yusuf Phillip Yila, the Managing Director of the NIRSAL Microfinance Bank to the position of Director Development Finance with effect from Friday, January 24, 2020.
According to a CBN statement announcing the redeployment, Yila is succeeding Dr. Mudashiru Olaitan who retires from the Bank from January 26, 2020, while Abubakar Abdulahi Kure is replacing Yila in the NIRSAL Microfinance Bank in an acting capacity.
Similarly, the CBN also announced the appointment of other Directors-namely, Clement Busari, Director of Strategy Management, Haruna Mustaphah, Director, Consumer Protection, Bello Hassan, Director, Other Financial Institutions Supervision Department, Dr. Ozoemena Nnaji, Director, Trade and Exchange Department and Musa Itopa Jimoh as Director Payment System.
Other movements announced by the management include the redeployment of Mr. Kofo Salam-Alada from the Consumer Protection Department to the Legal Services Department as well as the movement of Mr. Samuel Okojere from the Payment System Management to the Banking Services Department, to replace Mr. Dipo Fatokun, who retired from the services of the Bank in December 2019.
Incorporated in 2019 and granted a licence to operate the same yearNirsal Microfinance Bank whose head office in Abuja is a National Micro-finance Bank set up by the CBN to assist farmers and those in the Agric-value chain access funds at a reduced interest rate. It was incorporated in 2019 and granted a licence to operate in the same year. However, it did not start operations until 2019.
The bank is owned 50% by CBN, 40% by the bankers’ committee and 10% by Nigerian Postal Service (NIPOST).
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