NIRSAL Becomes Institutional Member of RIMAN

The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) at the recently concluded 18th annual iinternational conference and training by the Risk Managers Association of Nigeria (RIMAN), formally became an institutional member of the association.

The Managing Director/CEO of NIRSAL, Mr. Aliyu Abdul Hameed, who was one of the guest speakers at the conference, proposed for an annual risk management roundtable on agricultural financing and more collaboration with RIMAN to development of a robust risk management framework for Agribusiness Financing.

In his response, the RIMAN Board of Trustee Chairman, Ms. Folakemi Fatogbe, said the association already had a quarterly risk roundtable in place both in Lagos and Abuja.

But, she pointed out that the association would be willing to enlarge the scope to a joint annual conference by both RIMAN/NIRSAL.

She also added that committee of chief risk officers of banks, through RIMAN, would work in collaboration with NIRSAL to develop a robust risk management framework for agricultural financing.

She further added: “We believe this collaboration with NIRSAL will provide a suitable platform for synergy, knowledge sharing, capacity building and improvement of best practice risk management in the agric sector and beyond thereby providing food security among other benefits to the development of agribusiness’ in Nigeria.”