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NCP Mulls BOA-NIRSAL Merger, Injection Of Fresh Capital

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NCP Mulls BOA-NIRSAL Merger, Injection Of Fresh Capital

*We must reposition BOA to drive Nigeria’s food security- VP Shettima

By: Our Reporter

The National Council on Privatisation (NCP) has received key recommendations from its committee on the Bank of Agriculture (BOA), including a proposed merger with the Central Bank of Nigeria’s NIRSAL Microfinance Ltd and a fresh capital injection to revitalize the bank.

Addressing the second NCP meeting of 2024 at the Presidential Villa on Wednesday, the Vice President, Senator Kashim Shettima reiterated President Bola Ahmed Tinubu’s commitment to repositioning and reforming BOA to drive the administration’s food security agenda.

“Let’s get very sound professionals with integrity to manage the bank. If we use it well, it’s going to be a tool for the transformation of our economy because agriculture is the key,” the Vice President said.

Presenting the committee’s report, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who doubles as NCP Vice-Chairman, said the Council’s decision was informed by the challenges identified and the need for urgent resolution of the issues confronting the Bank.

Edun outlined the major recommendations, including “the immediate reconstitution of the Board of Directors of the Bank to enhance corporate governance” and “a merger of BOA with the CBN’s NIRSAL Microfinance Ltd.”

He also highlighted the proposal to “cede National Agricultural Land Development Authority (NALDA) land titles to BOA so that it reflects in its Balance Sheet, thus increasing its capital adequacy for the purpose of raising funds from institutional investors.”

Acknowledging the need for financial reinforcement, the Minister identified “adequate capital injection into the Bank by the shareholders” as a crucial step forward.

The committee’s report comes after the NCP empanelled an 8-member inter-ministerial body in December 2023 to review the state of affairs at BOA, given agriculture’s critical role in the economy and the Tinubu administration’s commitment to food security under the Renewed Hope Agenda.

In 2016, the NCP had approved the collaboration between the Bureau of Public Enterprises (BPE), the then Federal Ministry of Agriculture and Rural Development, and the Federal Ministry of Finance to restructure and recapitalize BOA.

A consultant, Lead Capital Consortium, was engaged in 2019 to review the bank’s operations and advise on strategies for rebirth and growth. The consultant’s core recommendation was for the government to recapitalize the bank, implement reforms, provide technical assistance, and transform BOA into a sustainable agricultural development bank.

Edun further outlined additional recommendations, including “Provision and upgrade of the Bank’s ICT infrastructure to automate processes, reduce costs and enhance the Bank’s outreach to the grassroots” and “Enhance governance and risk management by appointing qualified Board members and senior management with relevant expertise.”

In a move to bring transparency and efficiency to the nation’s energy sector, the NCP also noted the proposal seeking approval for the establishment of an independent system operator from the Transmission Company of Nigeria (TCN).

NCP Chairman, Vice President Shettima, set up a committee to liaise with the Special Adviser to the President on Energy and the Federal Ministry of Power to provide a roadmap and reach out to stakeholders.

The committee is chaired by Mr. Oye Hassan-Odukale, Technical Committee Chairman of NCP.

On a Strategy Paper for the Optimisation of Oil and Gas Assets, the Council also formed a committee to look into issues concerning oil and gas infrastructure, stressing the strategic importance of investors in the sector.

The committee chaired by the Minister for Budget and Economic Planning includes the Coordinating Minister of Health and Social Welfare, the NCP Secretariat, the Ministers of Power, the Minister of State for Petroleum Resources (Oil) and the Minister of State for Petroleum Resources (Gas),

The committee was given three weeks to come up with its report on optimizing the nation’s oil and gas assets.
End

NCP Mulls BOA-NIRSAL Merger, Injection Of Fresh Capital

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Period poverty: NEEM Foundation distributes sanitary pads to over 300 student in Abuja

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Period poverty: NEEM Foundation distributes sanitary pads to over 300 student in Abuja

By: Michael Mike

NEEM Foundation, a Non-Governmental Organisation (NGO) has distributed sanitary towels to over 300 students in Abuja as part of its commitment to end period poverty among young school girls,

The foundation carried out the empowerment scheme in collaboration with the Regent Schools Abuja, at the Junior Secondary School, JSS, Jabi 1, Abuja.

Head legal, Neem Foundation, Nancy Oyibo
said conversations around menstrual health and hygiene should be normalised, noting that access to menstrual hygiene products is crucial to healthy living, well being and dignity of all women and girls in the society.

She said empowering women to take charge of their menstrual health is not just essential but transformative.

Oyibo said: “We discovered some issues of health as some young girls cannot afford sanitary towels during their period. We thought it was imperative, following the rate of inflation to help the young ladies, the future of our country.”

She disclosed that “this is our second distribution in Abuja, we have also done few distributions in Maiduguri.”

She noted that the target goal is to create a pad bank in schools, as according to research carried out by the organisation revealed that female students sometimes miss school during the period of their menstrual flow.

She said: “This is just a step to many activities to be carried out in this light. We are going to take this all the way to where it needs to get to and to pass on this message so people can understand the effect this has on the education system for young girls.

“We do not want to have girls in situations where they are vulnerable and not proud of something that comes naturally. We want them to come confidently knowing they have nothing to worry about as they can compete with their male counterpart in school and ensure that they get the best out of it.

“For now, we are engaging mostly the girls as we realized that, most of them are shy to discuss topics related to menstrual hygiene, so this stage is to have an interaction with them, to make them comfortable. This factor made us ensure we have male personnel among us to talk about these issues as a gradual process, then subsequently, we include the boys in the discuss.

“This whole situations stems from the home as some homes do not seem it right to discuss issues of menstrual hygiene publicly. This is how some people grew up and we are trying to change that narrative with a focus on spreading the word to everyone.

During an interactive section with the student, Legal Assistant Neem, Aliyyah Abdulkadir disclosed that the organisation saw it necessary to provide sanitary towels from the opinion that, you girls should not stay out of school, or have to choose between school and menstrual care.

She charged the students to be agent of change, in making concerted efforts to educate others in a bid to break the culture of silence.

For her part, the Executive Assistant to the Executive Director, Aisha Muniru Mai, speaking on the up coming 16 days activism on Violence Against Women, said: “We are keying into the issues with specific interest to access to education.

“One of the things we overlook is the period poverty. As if you do not have access to menstrual hygiene products, it will be difficult to go to school and learn. As such we are highlighting period poverty, teaching the children the signs and things they need to be aware of to identify violence and report to appropriate quarters.

The Director/Principal, JSS, Jabi 1, Dr. Grace Ifeyinwa Onyeanusi expressed profound gratitude to NEEM Foundation for the kind gesture as it will go a long way in helping the students maintain hygiene during menstruation.

One of the beneficiaries, A JSS 3 student Tega Praise Ogaga, expressed her appreciation to NEEM Foundation, disclosing how sometimes she is scared to approach her parents to purchase sanitary towels during menstruation and will have to use a single pad for a long period.

She said, “Sometimes I resolve to using rags or more than one pant, which is very discomforting, but with the sanitary towels from NEEM Foundation, I will not have to make any demands from my parents in a while.

Neem Foundation is a leading crisis response organisation committed to promoting the protection and wellbeing of populations and communities living in contexts affected by conflict, violence, and fragility.

Period poverty: NEEM Foundation distributes sanitary pads to over 300 student in Abuja

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Flame Initiatives, RCCG empowers widows in FCT

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Flame Initiatives, RCCG empowers widows in FCT

By: Michael Mike

As part of its commitment to foster empowerment in marginalised communities, Flame Initiatives, a Non-Governmental Organisation under the CINTA Widows Empowerment Programme, has donated food items, funds, and other materials to widows in the Federal Capital Territory (FCT).

The outreach carried out in Abuja, was in collaboration with the Redeemed Christian Church of God (RCCG), The Lord’s Place.

Speaking, the Lead Pastor of the RCCG, the Lord’s Place, Pastor Ola Omosebi, charged the Federal government to make concerted efforts to enhance the current economic situation facing the country, deploying urgent solutions without altering long-term policies.  

Pastor Omosebi said the church is emulating how Christ fed 5,000 persons during famine while asking the government to act fast to ameliorate the suffering of the people.

“The major direction of this event is to have at least one day a year where widows are brought together and empowered with soft skills, business skills, enterprise skills and encouragement. One of the things this program offers is hope. “

He urged the government to support widows through sustainable initiatives. Providing a dedicated secretariat advocating for women, particularly widows, with government representatives. 

“People are struggling to make ends meet, and the prolonged hardship is leading to depression, despair, and even death. The government must prioritize quick-fix solutions alongside long-term plans to restore hope and confidence in the economy.”

Also speaking, the Mandate Secretary, Women Affairs Secretariat of the FCT Administration (FCTA), Dr Adedayo Benjamin-Laniyi,  expressed empathy for the resilient widows, noting that one cannot understand what it means to be in their shoes.

Laniyi, represented by her Personal Assistant, Mrs. Kemi Samuel, noted the fundamental role a husband/father plays, stating that loss can change lives and test the core of beings.

She celebrated the widows for their resilience and strength while acknowledging the challenges amidst the hardship and grief come the capacity to adapt. 

She said, “We are here to support one another. Let today be a reminder to encourage and uplift one another.

“It’s an honour to celebrate strength, resilience, and community. 

She noted that the event is a testament to the extraordinary courage and unwavering determination of everyone who has navigated the challenges of widows.

Also, the President of Widows Organisation International FCT Chapter, Aisha Baba Ringo, advised widows to persevere and be hardworking. 

According to her, “Being a widow doesn’t mean all hope is lost, it’s also not a stigma”. 

A beneficiary of the programme,  Ms Oyeyemi Obende, said the programme has been educative, innovative and supportive. She advised widows not to give up even if the world looked down on them.

Flame Initiatives was established to provide the disadvantaged and mainly rural population with relief materials, motivation, and empowerment to improve their physical and social well-being. Their main objective is to drive social change in communities by facilitating development in the public and private sectors.

Flame Initiatives, RCCG empowers widows in FCT

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COMMISSIONER OF EDUCATION RECEIVES MD NELFUND IN MAIDUGURI; INTERFACES WITH STUDENTS AND ERADICATORS

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COMMISSIONER OF EDUCATION RECEIVES MD NELFUND IN MAIDUGURI; INTERFACES WITH STUDENTS AND ERADICATORS

By: Our Reporter

The Managing Director of the Nigerian Education Loan Fund NELFUND, Akintunde Sawyerr, has visited Borno State to engage with students, educators, and government officials, highlighting the benefits of the NELFUND initiative.

NELFUND, an initiative of President Bola Ahmed Tinubu’s Renewed Hope Agenda, aims to provide all higher institution students with access to financial resources, enabling them to pursue their educational goals and aspirations at ease.

The Managing Director NELFUND Akintunde Sawyerr emphasized his commitment to revitalizing education in the country, stating that the loan programme is designed to also reduce unproductivity and unhappiness amongst Nigerians students, which often lead to broader societal issues.

Sawyerr explained The loan’s modalities, which include creating an online profile as a prerequisite for application, clarifying that the loan is interest-free and does not require a fixed repayment period, making it accessible and flexible for students.

Borno State Commissioner for Education, Science, Technology, and Innovation, Lawan Abba Wakilbe, reiterated the state government’s commitment to facilitating student access to the loan, hence announced the establishment of a dedicated desk officer for NELFUND in the state Ali Sherriff to work in collaboration with the Special Adviser to governor Zulum on Higher Education and other educators.

This initiative, Wakilbe added will guide students throughout the application process and ensure they fully understand THE benefits of the loan, which he described as a low-risk grant and encouraged all eligible students to take advantage of the programme.

During the session, questions were raised seeking further clarification, where the Managing Director provided detailed responses, shedding more light on the programme and its benefits.

COMMISSIONER OF EDUCATION RECEIVES MD NELFUND IN MAIDUGURI; INTERFACES WITH STUDENTS AND ERADICATORS

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