The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc.) is a Non-Bank Financial Institution wholly-owned by the Central Bank of Nigeria (CBN) created to Redefine, Dimension, Measure, Re-Price and Share agribusiness-related credit risks in Nigeria.
Established in collaboration with the Federal Ministry of Agriculture and Rural Development (FMARD), now Federal Ministry of Agriculture and Food Security (FMAFS), and Nigerian Bankers’ Committee in 2013, NIRSAL’s mandate is to stimulate the flow of affordable finance and investments into the agriculture sector by de-risking the agriculture & agribusiness finance value chain, fixing agricultural value chains, building long-term capacity, and institutionalizing incentives for agricultural lending through its five (5) strategic pillars, namely: Risk Sharing, Insurance, Technical Assistance, Incentives and Rating.
