CBSL extends term of Administrator appointed to Nation Lanka Finance

Monday, 5 January 2026 05:34 - - {{hitsCtrl.values.hits}}

The Central Bank of Sri Lanka (CBSL) has extended the tenure of P.W.D.N.R. Rodrigo, the Administrator appointed to Nation Lanka Finance PLC (NLFP), under the Banking (Special Provisions) Act, No. 17 of 2023 (BSPA).

Rodrigo, who was first appointed through the Order published in Gazette Extraordinary No. 2443/57 dated 4 July 2025, will continue in this role for a further period of six months, from 4 January 2026 to 3 July 2026.

“The extension has been granted to ensure the uninterrupted continuation of the resolution process of NLFP,” the CBSL said.

It said the Administrator requires further time to advance key steps in the process, including the implementation of an appropriate resolution tool as permitted by the BSPA.

During the extended term, the Administrator will maintain full control over all assets, operations, and affairs of NLFP, and will continue to manage the company on its behalf. He is also required to submit the necessary reports and information to CBSL in line with statutory requirements.

This decision forms part of CBSL’s ongoing efforts, as the Resolution Authority, to safeguard the interests of depositors and creditors, and to protect the stability and integrity of the financial system.

The CBSL said all stakeholders of NLFP who have financial obligations over the company are advised to fulfil their contractual obligations towards the company in accordance with respective agreements on time only through a bank account under the name of NLFP and to maintain records for all payments. Further, all stakeholders of NLFP are kindly requested to cooperate with the CBSL in this regard.

As at 30 September 2025, NLFP had liabilities worth Rs. 6.5 billion, including Rs. 4.3 billion as financial liabilities at amortised cost due to depositors. Assets amounted to Rs. 5.4 billion. Retained losses amounted to Rs. 5.4 billion.