News
NCP Mulls BOA-NIRSAL Merger, Injection Of Fresh Capital
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
News
Three killed as hoodlums attack hunters, burn huts in Adamawa community
Three killed as hoodlums attack hunters, burn huts in Adamawa community
By: Zagazola Makama
Three persons have been killed after armed hoodlums launched attacks on hunters and residents in Song Local Government Area of Adamawa State, authorities confirmed on Friday.
Sources told Zagazola Makama that the incident began at about 3:20 p.m. when local hunters from Barkin Sajo, under the Miyetti Allah hunters association, pursued suspected cattle rustlers into the Mayo Suno forest.
According to the source, a gun duel ensued between the hunters and the hoodlums, resulting in the death of one of the hunters, identified as Buji Alhaji, 40.
He explained that the attackers later moved to Maigero village, where they set seven thatched huts in the local market ablaze before shooting and killing two residents: Alhaji Haruna and Iliya Dabba.
He said security operatives visited the scene and evacuated the bodies to the Cottage Hospital, Song.
The sources added that efforts were ongoing to track down the perpetrators, while the police Criminal Investigation Department (CID) had been assigned to conduct a discreet investigation into the incident.
End
News
Welfare allegations against 90 amphibious battalion Commanding Officer proven inaccurate
Welfare allegations against 90 amphibious battalion Commanding Officer proven inaccurate
By: Zagazola Makama
Contrary to recent media reports alleging mismanagement of soldiers’ allowances and welfare at the 90 Amphibious Battalion, Koko, a detailed review confirms that the Commanding Officer (CO), Lt. Colonel M.M. Garba, has maintained proper management of all entitlements and provided additional support to deployed personnel.
Investigations reveal that allegations of diversion of allowances, inadequate feeding, and extended duty rotations were unfounded. The battalion, which comprises 400 soldiers, with 300 deployed to oil facilities and 100 remaining at base, has witnessed an increase in allowances under the current Commanding Officer.
The RCA allowance, previously ₦30,000, was raised to ₦40,000 monthly and applied to all soldiers uniformly. Further clarification indicates that deployed soldiers receive a ₦150,000 monthly feeding allowance directly from the oil companies supporting operations, with funds transferred straight into the soldiers’ accounts,”two sources from the company confirmed.
However, SEPLAT, one of the partner companies, has reportedly not made payments since January 2025, contrary to claims that soldiers receive only ₦40,000, a sources from the company further confirmed.
In addition to standard entitlements, The Commanding Officer personally contributes approximately ₦7 million monthly for feeding across deployed locations and the base. This voluntary support aims to sustain morale and operational readiness, marking a significant improvement in welfare since his assumption of command in January 2025.
A preliminary assessment suggests the recent allegations may have been motivated by misinformation or deliberate attempts to undermine the CO’s credibility, create internal disaffection, or misrepresent welfare standards compared with other regions.
Some soldiers who spoke to Zagazola under conditions of anonymity said “Our Commanding Officer has never misappropriated soldiers’ allowances. Every soldier receives their full entitlements, and sometimes he provided more support voluntarily,”he said.
“Our CO na Good man i swear all this lies we day see for internet, we sef no believe am. Person just wan spoil him name. Oga tell them say make them call to asked soldiers. We dey enjoy for here woo. Nothing like that,”said one soldier who spoke in pigin english.
Soldiers at the battalion attest that the CO’s commitment has tangibly improved morale. “Since his arrival, welfare has never been better. We receive our allowances in full, and the feeding support keeps us going during deployments,” said another soldier, speaking on condition of anonymity.
Lt. Colonel Garba, leadership is measured not only in operational success but in the welfare and morale of his troops. His proactive stance demonstrates that even under challenging circumstances, committed leadership can bridge gaps in resources and ensure that soldiers’ rights are respected.
Welfare allegations against 90 amphibious battalion Commanding Officer proven inaccurate
News
NDLEA intercepts cocaine shipment from Brazil, detains ship, 20 Filipino crew members
NDLEA intercepts cocaine shipment from Brazil, detains ship, 20 Filipino crew members
By: Michael Mike
Barely six months after 10 Thai sailors and their ship were convicted and fined $4.3 million for bringing 32.9 kilogrammes cocaine into Nigeria, operatives of the National Drug Law Enforcement Agency (NDLEA) have again intercepted another commodity laden vessel- MV Nord Bosporus marked 9760110 from the port of Santos in Brazil at the Apapa seaport in Lagos with no less than 20 kilogrammes of the Class A drug buried under its cargo.
A statement on Friday by the spokesman of the anti-narcotics agency, Femi Babafemi said the illicit drug consignment was discovered on board the vessel last Sunday by NDLEA officers who thereafter took the Master of the ship, Captain Quino Eugene Corpus and 19 other crew members who are all Filipinos into custody for investigation.
Babafemi said following the seizure and arrest of the crew members, the NDLEA filed an application for an order of court for the detention of the vessel and the 20 Filipinos on board for further investigation.

He disclosed that the motion ex-parte in suit number FHC/L/MISC/1306/25 was argued before Justice Musa Kakaki of the Federal High Court, Lagos, who on Thursday granted the application for an initial 14 days detention of the vessel, Capt. Corpus and 19 other Filipino crew members.
Babafemi said preliminary investigation revealed that this was the first time the vessel was coming to Nigeria and Africa as it’s been largely transporting coal between Colombia and Brazil while Captain Corpus has been barely three months with the ship.
He recalled that the agency had in a similar circumstance arrested 10 sailors who are nationals of Thailand on 13th October 2021 on board a vessel named MV Chayanee Naree for trafficking 32.9 kilogrammes of cocaine from Brazil into Nigeria through the Apapa seaport. Nine Nigerian suspects were also arrested along with the Thai crew members.
He said the 10 Thai sailors and the vessel were eventually convicted on Thursday 15th May 2025 by a Federal High Court in Lagos presided over by Justice Daniel Osiagor who also fined them $4.3 million.
In his reaction to the latest significant seizure of 20 kilogrammes cocaine on board MV Nord Bosporus, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Buba Marwa (rtd) commended the officers, men and women of the Apapa Strategic Command of the agency as well as the Directorate of Seaport Operations for their vigilance, diligence and professionalism.
Marwa said the cocaine seizure is not just an operational success but “a clear demonstration of our heightened capacity and unwavering resolve”, adding that “we will continue to tighten our grip on all entry and exit points, especially our seaports, which transnational criminal organisations have historically attempted to exploit.”
According to him, “Let this be an unambiguous message to every international drug cartel and every internal collaborator: Nigeria is not, and will never be, your space or your foothold. The NDLEA is operating with zero-tolerance, and we will not permit any illicit drug to pass through our borders, whether by air, land, or sea. You may scheme, you may attempt sophisticated concealment, but you will fail. Our intelligence network, collaboration with international partners, and the dedication of our officers are steps ahead of your nefarious activities.”
He reminded any Nigerian who chooses to collaborate with foreign syndicates in the illicit drug trade of the consequences their action.
He said: “You are not just committing a crime; you are betraying your nation’s future. The consequences of aiding and abetting drug trafficking will be severe and unrelenting. We are committed to using the full force of the law to dismantle your structures, seize your illicit assets, and secure your long-term incarceration.”
NDLEA intercepts cocaine shipment from Brazil, detains ship, 20 Filipino crew members
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