The Nigerian Agricultural Insurance Corporation (NAIC) has announced the appointment of Mr. Yazid Danfulani as its new Managing Director/Chief Executive Officer.
Joining him are two Executive Directors: Mr. Abubakar Jarengo (Operations) and Mr. Babafemi Rasheed (Admin and Finance).
A statement by Magdalene Omosimua, Deputy General Manager, Corporate Affairs at NAIC, said the appointments, effective from May 21, 2025, were approved by President Bola Ahmed Tinubu.
The approval was issued in a letter signed by Senator George Akume, Secretary to the Government of the Federation, on May 22, 2025.
According to the statement: “His Excellency President Bola Ahmed Tinubu GCFR, has approved the appointment of Executive Directors for Nigerian Agricultural Insurance Corporation (NAIC). They are: a) Mr. Yazid Shehu Umar Danfulani – Managing Director /CEO, b) Mr. Abubakar Umar Jarengo, Executive Director, Operations, and c)Mr. Babafemi Ayandayo Rasheed, Executive Director, Admin and Finance.
“President Tinubu’s letter, signed by Senator George Akume on May 22nd, 2025, states that their appointment takes effect from May 21st, 2025, for an initial term of four years, in accordance with section 15(a) of the NAIC Act law 2004.
“The team is expected to bring new vigor and strategic direction to NAIC, a critical institution responsible for providing insurance to Nigeria’s agricultural sector against risks such as drought, pests, diseases, and other disasters.
“The Management and entire staff of the Corporation wish them a successful working tenure.”
Mr. Yazid Shehu Umar Danfulani is a seasoned administrator and banker with a Bachelor’s degree in Business Administration and a Master’s in Arts and Management from the University of Hertfordshire, UK.
He has served in notable roles at the Central Bank of Nigeria (CBN) and was Commissioner for Commerce and Industry in Zamfara State.
The appointment letter noted that Danfulani’s emoluments and conditions of service will be guided by the “Certain Political, Public and Judicial Office Holders (Salaries and Allowances, etc.) (Amendment) Act, 2008.”
His leadership and expertise have been widely praised, with expectations that he will strengthen agricultural insurance frameworks, expand farmers’ access to insurance, and support Nigeria’s food security strategy.
Born in Gusau on April 15, 1986, Danfulani’s educational journey includes Islamic schooling, primary and secondary education in Gusau and Zaria, a diploma in computing, and advanced degrees from the UK and Malaysia. He has extensive experience in banking operations, business administration, and computing.
Before his NAIC appointment, he worked at the Central Bank of Nigeria and served as Zamfara’s Commissioner of Commerce and Industry.
He is also founder and president of the Arewa Development and Empowerment Foundation (ADEF), which supports orphans and the less privileged.
