Sri Lanka’s central bank has announced a six-month extension for the tenure of the administrator appointed to Nation Lanka Finance PLC (NLFP). This decision aims to ensure the continuation of the firm’s resolution process following its failure to meet capital requirements and regulations.

P W D N R Rodrigo was initially appointed as the administrator for Nation Lanka Finance for a six-month period starting from July 4, 2025. The Central Bank of Sri Lanka (CBSL) has now extended his term from January 4, 2026, to July 3, 2026. According to a statement from CBSL, this extension is necessary to maintain the ongoing resolution process of NLFP without interruption.

The extended tenure will allow Mr. Rodrigo to further advance critical steps in the resolution process, which includes implementing an appropriate resolution tool as permitted by the Banking (Special Provisions) Act, No. 17 of 2023. During this period, the administrator will retain full control over all assets, operations, and affairs of NLFP and will continue to manage the company on its behalf. He is also mandated to submit necessary reports and information to CBSL, adhering to statutory requirements.

This decision is part of CBSL’s ongoing efforts as the Resolution Authority to protect the interests of depositors and creditors while safeguarding the stability and integrity of the financial system. All stakeholders of NLFP who have financial obligations toward the company are advised to fulfill their contractual obligations in a timely manner through a bank account under the name of NLFP, ensuring all payments are well-documented. Additionally, stakeholders are encouraged to cooperate with CBSL throughout this process.

(Colombo/Jan5/2026)