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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.
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NCP Mulls BOA-NIRSAL Merger, Injection Of Fresh Capital

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Zulum Delivers Relief, Cash Support to 434 Ngoshe Residents Rescued from Boko Haram

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Zulum Delivers Relief, Cash Support to 434 Ngoshe Residents Rescued from Boko Haram

By: Our Reporter

Borno State Government has distributed relief materials to 434 indigenes of Ngoshe community in Gwoza Local Government Area who were recently rescued by security agencies after spending three months in Boko Haram captivity.

Governor Babagana Umara Zulum visited the victims in Pulka on Monday and directed the immediate distribution of food and non-food items to support their recovery and reintegration.

In compliance with the Governor’s directive, the Director General of the Borno State Emergency Management Agency (SEMA), Alhaji Ali Abdullahi Isa, promptly supervised the distribution exercise.

Each rescued person received a bag of rice, a bag of maize grits, a mattress, a wrapper, and a shadda, while children received two pairs of clothing.

In addition, 208 heads of households received N50,000 each, fulfilling Governor Zulum’s earlier pledge of financial assistance.

Speaking during the distribution, the SEMA Director General said the intervention was part of the government’s immediate response to ease the hardship faced by the rescued victims.

“I am here at the instance of His Excellency, Governor Babagana Umara Zulum, who was here some few days ago, and to deliver the items he directed that it should be given to you as emergency relief,” Ali stated.

The rescued individuals are currently receiving medical care and psychosocial support at a government facility. Upon completion of the rehabilitation process, they will be reintegrated into their respective communities.

The exercise was carried out alongside the Chairman of Gwoza local government, representatives of the Ngoshe community, and other officials.

Zulum Delivers Relief, Cash Support to 434 Ngoshe Residents Rescued from Boko Haram

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Democracy Day: Zulum gives 2 MRAPs, other logistics to Army, celebrates with IDPs

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Democracy Day: Zulum gives 2 MRAPs, other logistics to Army, celebrates with IDPs

By: Michael Mike

Borno State Governor, Babagana Umara Zulum, marked Democracy Day with the handover of two Mine-Resistant Ambush Protected (MRAP) vehicles and critical logistics to the Nigerian Army, after joining internally displaced persons (IDPs) for a symbolic celebration and distribution of food items to 2,500 beneficiaries.

The armoured MRAPs delivered to the Theatre Command of Operation Hadin Kai on Friday are intended to enhance troop protection against improvised explosive devices (IEDs) and ambushes which remain a persistent threat in the fight against insurgents. Additional logistics include operational Hilux vehicles and motorcycles for frontline soldiers in difficult terrains.

Zulum also marked Nigeria’s Democracy Day celebration with Internally Displaced Persons (IDPs) at the Madinatu camp where he distributed food supplies, non-food items, and cash gifts to thousands of beneficiaries.

The distribution, held at the Madinatu IDP camp, served to consolidate Zulum’s resettlement gains. Over the past seven years, Borno State Government has successfully resettled more than 2 million IDPs in their ancestral communities in a dignified and voluntary manner.

“It gladdens my heart today, the 12th of June, 2026, to celebrate June 12th, Democracy Day, here in Madinatu Camp, the only formal camp that is standing inside Maiduguri Metropolitan Council, today, to the glory of God and the benefit of mankind, for the distribution of food and non-food items. Inshallah, this camp will be closed this year. This will be our last distribution exercise in this camp, or the second to the last,” Zulum said.

However, Governor Zulum used the occasion to announce a timeline for the camp’s closure. The governor ordered that Madinatu camp be shut down within one month, vowing to similarly close most IDP camps across various Local Government Areas in the coming phase of his administration’s resettlement strategy.

“Democracy must translate into restoring the dignity of our people,” Zulum told the IDPs. “Living in camps is not a permanent solution. Our goal remains to return every displaced person to their ancestral homes with security and means of livelihood.”

In addition to the food items, Zulum approved N50,000 each for the 2,500 beneficiaries present at the event.

“Each of the 500 beneficiaries mentioned will receive a 25kg bag of rice and a 25kg bag of sorghum. Women will receive wrappers. I also promise to provide 50,000 naira to each beneficiary. This amount can be credited into their own individual accounts, inshallah,” Zulum said.

The exercise was attended by the APC’s State Deputy Chairman, Garba Mulima, APC State Vice Chairman (Central) Abdur Rahman Abdulkarim, Acting Chief of Staff, Dr Babagana Mallumbe, Member representing Jere at the State Assembly, Abba Kyari Kolo, commissioners and commissioner designates and several other senior government officials.

Democracy Day: Zulum gives 2 MRAPs, other logistics to Army, celebrates with IDPs

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Gov. Yusuf Commends DSS Over Arrest of Suspected Gun Courier in Kano

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Gov. Yusuf Commends DSS Over Arrest of Suspected Gun Courier in Kano

By: Michael Mike

Kano State Governor, Abba Kabir Yusuf, has commended the Department of State Services (DSS) for the arrest of a suspected gun courier intercepted while allegedly transporting weapons believed to be destined for criminal elements in Katsina State.

The commendation was contained in a statement issued by the Governor’s spokesperson, Sunusi Bature Dawakin Tofa, on Thursday, June 12, 2026.

Governor Yusuf described the operation as a major breakthrough in the ongoing fight against banditry, terrorism and other violent crimes threatening communities across Northern Nigeria.

According to information provided by the DSS, the suspect, identified as Muhammad Abubakar, 30, was apprehended in Gezawa Local Government Area of Kano State while allegedly transporting four rocket-propelled grenade (RPG) tubes, three AK-47 rifles and two empty magazines to Funtua in Katsina State.

Preliminary investigations reportedly revealed that the suspect collected the weapons from an individual identified as Bello in the Maigatari border area of Jigawa State and was expected to receive N450,000 upon successful delivery of the arms.

Governor Yusuf praised the professionalism, vigilance and intelligence-driven approach of DSS operatives, noting that the timely interception prevented the weapons from falling into the hands of bandits and other criminal groups.

He said the operation underscored the critical role of intelligence gathering and effective collaboration among security agencies in tackling emerging security threats across the country.

The governor reaffirmed the commitment of the Kano State Government to supporting security agencies through sustained cooperation, logistics assistance and policies aimed at strengthening public safety throughout the state.

He also urged residents to remain vigilant and continue providing credible information to security agencies to aid efforts to combat crime and maintain peace.

Governor Yusuf expressed confidence that ongoing investigations would lead to the arrest and prosecution of all individuals connected to the alleged arms trafficking network.

The statement was signed by Sunusi Bature Dawakin Tofa, Director General, Media and Publicity, Government House, Kano.

Gov. Yusuf Commends DSS Over Arrest of Suspected Gun Courier in Kano

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