Ex- NIRSAL MD Arrested For Alleged N5.6bn Wheat Project Scam


Almost a year after he was sacked as the Managing Director of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Aliyu Abdlhameed, has been arrested for allegedly N5.6bn Wheat Project Scam.

NIRSAL, a $500m non-bank financial institution, is a creation of the Central Bank of Nigeria (CBN) mandated to manage agribusiness-related credit risks in Nigeria.

Abdulhameed was kicked out of office following allegations of corruption, including a 2018 N5.6 billion wheat project meant for farmers in Kano and Jigawa States.

His sack was endorsed by the Board of the CBN following approval from the Presidency in December last year.

He was apprehended last week on the premises of a federal government’s revenue-generating agency in Abuja where he had gone to lobby for a reappointment.

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