The The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc.) has commenced a Credit Risk Guarantee (CRG) monitoring visit to some of the major Shea and Cocoa Processing and exporting companies in two States (Niger and Osun) respectively.
The CBN owned Non-bank financial institution said, it’s mandate is to first support agribusiness funding and Risk Guarantee for Nigerian owned companies against foreign transactions and the visit to Niger and Osun is part of it’s mandate.
This has been revealed through its official Twitter handle though not verified (@nirsalconnect). As part of measures to support agri-value chain, NIRSAL will be guaranteeing companies involved in the processing and exportation of Agricultural products.[irp posts=”10519″ name=”EMPOWERMENT: NIRSAL unveils new loan for households and SME: See criteria for application”]
A Credit Risk Guarantee protects the assurance holder against credit misfortune connected with a product exchange. The assurance covers the dangers because of wiping out of the conveyance contract during the assembling time frame as well as business takes a chance because of receivables from a foreign purchaser.
The twitter post reads:
“We recently conducted NIRSAL Credit Risk Guarantee (CRG) monitoring visits to shea and cocoa processors in Niger and Osun states respectively.”
We recently conducted NIRSAL Credit Risk Guarantee (CRG) monitoring visits to shea and cocoa processors in Niger and Osun states respectively. pic.twitter.com/NpGxjdhc5q
— NIRSAL Plc (@nirsalconnect) August 15, 2022
NIRSAL CRG monitoring is one of the activities conducted following the issuance of the NIRSAL CRG to ensure Agribusiness projects guaranteed by NIRSAL Plc are successful.
No comment have been received on the post as at the time of filling this report.