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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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Bayelsa East Leaders, Elders, Women, Youths To Protest Over Marginalization In Sen Douye Diri Administration

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Bayelsa East Leaders, Elders, Women, Youths To Protest Over Marginalization In Sen Douye Diri Administration

Bayelsa East Leaders, Elders, Women, Youths To Protest Over Marginalization In Sen Douye Diri Administration

Leaders, stakeholders, women and youths in Bayelsa East Senatorial District has perfected preparations to stage a peaceful protest against Bayelsa State Governor, Senator Douye Diri over marginalization and neglect in political appointments in the government since inception.

The people of the east also deserves sensitive offices in the government for their resolute support for the government since inception, but they have been marginalized. The office of the deputy governor from the east will balance the political structure.

Marginalization of the east people in sensitive government appointments is an outright disrespect to the former President, Dr. Goodluck Ebele Jonathan, King Alfred Diette-Spiff, Gen. Melford Okilo, and other leaders from the east senatorial district.

Even though the speaker of the state house of assembly is not considered, there are other competent individuals eminently qualified to handle the office of the deputy governor for the remaining years of the government.

The governor should consult former president, and other leaders from the east to chose a deputy governor from either Ogbia, Nembe or Brass.

The eastern region planned peaceful protest is a furtherance expression of dissatisfaction in accordance and solidarity with the group, the Bayelsa State Chapter of the All Progressives Congress Grassroot Movement (BSAGM) condemnation of Governor Diri administration over marginalization of appointments.

According to the eastern people, the governor has consciously and deliberately marginalized the east in sensitive political appointments in the government, pointing out that all the top offices in the government are handled by his relatives from Kolokuma-Opokuma and Sagbama.

For instance; all government house appointments are handled by his relatives, the chief of staff, deputy chief of staff, Director of Domestic, Director of Transport, including S.A Political, and other sensitive appointments in the government.

Governor Douye Diri has deliberately neglected and marginalized the east, we will exercise our constitutional right of a peaceful protest to express our dissatisfaction to the world.

Since the creation of Bayelsa State, successive administrations had maintained political conglomeration across the three senatorial district in the state, but Diri administration had neglected the east from inception.

The east is only been marginalized, and neglected in Diri administration. Alamieyeseigha, Jonathan, Sylva, and Dickson carried out fair, equal appointments, infrastructure across the state, in their administrations.

Successive governments since 1999, had fairly and transparently distributed political appointments across the senatorial district, but the contrary is Diri’s administration.

It is absolutely unfortunate that the east had been undermined by Diri, running a one-sided government of Kolokuma-Opokuma, and the whole state is watching the government.

In exercise of constitutional right of a peaceful protest, the east will carry out a peaceful protest to government house next week to publicly express their dissatisfaction to the world over the undemocratic marginalization of appointments in Diri administration.

Signed:

Chief Samuel Azibator – Ogbia

High Chief Nengi Sylvanus -Nembe

Chief Williams Naworio – Brass

Bayelsa East Leaders, Elders, Women, Youths To Protest Over Marginalization In Sen Douye Diri Administration

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Security operatives recover AK-47 rifle in Kaduna community

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Security operatives recover AK-47 rifle in Kaduna community

By: Zagazola Makama

Security operatives in Kauru Local Government Area of Kaduna State have recovered an AK-47 rifle and ammunition from a fleeing suspect.

Zagazola learnt that the recovery was made at about 2:00 p.m. on Feb. 11, 2026, during a routine patrol along the Kauru–Unguwan Ganye Road.

Security sources said the patrol team received intelligence about a suspicious motorcycle rider heading toward the area.

Following the tip-off, the operatives immediately mounted a snap roadblock along the route.

On sighting the checkpoint, the rider reportedly abandoned his motorcycle, dropped a bag and fled into nearby bush paths.

A search of the abandoned bag led to the recovery of one AK-47 rifle with its breach number filed off, one magazine and one 6.2mm live ammunition.

Security personnel have since launched a manhunt for the fleeing suspect.

Security operatives recover AK-47 rifle in Kaduna community

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Suspected IED explosion foiled at Bayelsa State Secretariat, suspect arrested

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Suspected IED explosion foiled at Bayelsa State Secretariat, suspect arrested

By: Zagazola Makama

Security operatives have arrested a man following a suspected improvised explosive device (IED) incident at the Bayelsa State Secretariat in Yenagoa.

Zagazola reports that the explosion was heard on Feb. 11, 2026, at about 6:00 a.m., prompting an immediate response from police operatives attached to the Special Weapons and Tactics (SWAT) Unit.

Sources said that the suspect, identified as Pentecost Elijah, 60, of Otuan in Southern Ijaw Local Government Area, reportedly admitted to placing the suspected explosives in the secretariat complex.

According to preliminary investigations, the suspect claimed he sought to draw attention from the State Government due to perceived neglect.

The sources said that the area has been cordoned off, and Explosive Ordnance Disposal (EOD) teams, along with CBRN specialists, are conducting thorough sweeps of the complex. Authorities confirmed that the situation is currently under control, and investigations are ongoing.

Suspected IED explosion foiled at Bayelsa State Secretariat, suspect arrested

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