Almost twelve months after being dismissed as the Managing Director of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Aliyu Abdulhameed has been arrested on charges related to a N5.6 billion Wheat Project Scam.
NIRSAL, a $500 million non-bank financial institution, established by the Central Bank of Nigeria (CBN) to handle agribusiness-related credit risks, witnessed Abdulhameed's removal amid corruption allegations, particularly regarding the mismanagement of a 2018 N5.6 billion wheat project intended for farmers in Kano and Jigawa States.
The Board of the CBN, with approval from the Presidency in December of the previous year, sanctioned his removal. His recent apprehension occurred on the premises of a federal government's revenue-generating agency in Abuja, where he was lobbying for a potential reappointment.
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