CBSL extends Administrator’s term for Nation Lanka Finance

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.

Rodrigo was initially appointed through Gazette Extraordinary No. 2443/57 dated 4 July 2025. His term was later extended up to 3 July 2026. Under the latest decision, he will continue in office for a further period of six months, from 4 July 2026 to 3 January 2027.

CBSL stated that the extension has been granted to ensure the uninterrupted continuation of the resolution process of NLFP. The Administrator requires additional time to advance key steps in the process as provided for under the provisions of the Banking (Special Provisions) Act.

During the extended period, the Administrator will continue to exercise full control over the assets, operations, and affairs of NLFP. He will also manage the company in accordance with the powers conferred under the Act and will be required to submit necessary reports and information to the Central Bank in line with statutory requirements.

CBSL, acting in its capacity as the Resolution Authority, said the decision is part of its ongoing efforts to safeguard depositor interests and maintain stability and confidence in the financial system.

All stakeholders of NLFP are advised to settle their financial obligations to the company in accordance with their respective agreements in a timely manner, through bank accounts maintained in the name of NLFP, and to keep proper records of all transactions. Stakeholders are also requested to continue cooperating with CBSL and the Administrator during the resolution process.