The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) is a CBN-owned non-bank financial institution providing credit guarantees and risk management services for agricultural lending. NIRSAL provides 75% credit guarantees to partner financial institutions plus an Interest Drawback Program that subsidizes loan interest. In 2025, NIRSAL guaranteed more than NGN 100 billion (USD 69 million) in agricultural loans, its highest annual total on record. NIRSAL has signed 41 master agreements with partner financial institutions covering farm production, agro-processing, storage, logistics, and exports. NIRSAL is currently in the process of merging with the Bank of Agriculture to form a unified agricultural development institution.