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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
Police recover 15 rustled cows in Zamfara
By: Zagazola Makama
The Police Command in Zamfara says its operatives have recovered 15 cows rustled by armed bandits during an attack on Gidan Kwagiri village in Damba District of Gusau Local Government Area.
Security sources said the incident occurred at about 1:30 a.m. on Feb. 15 when the bandits invaded the community and carted away cows and sheep belonging to residents.
According to the sources, upon receiving the report, the Divisional Police Officer (DPO) in charge of Damba Division mobilised personnel alongside patrol teams from the Department of Operations to pursue the attackers.
The team was said to have successfully recovered 15 cows, which were subsequently handed over to their owners.
Efforts, however, are ongoing to track down the suspects and recover the remaining rustled animals, while security patrols have been intensified in the area to forestall further attacks.
Police recover 15 rustled cows in Zamfara
Operation Whirl Stroke arrests cow rustling suspects fuelling violence in Benue
By: Zagazola Makama
Troops of the Joint Task Force (JTF) Operation WHIRL STROKE have arrested suspects linked to cattle rustling in Benue State, following two separate security incidents in Guma Local Government Area.
Security sources said that on Feb. 15, troops responded to an attack on herders at Amua Village, located between Daudu and Umenger/Ukpiam. The attack left one herder dead, while another sustained gunshot wounds and was evacuated to Keana in neighbouring Nasarawa State for urgent medical attention. The remains of the deceased were handed over to community representatives for burial according to local customs.
In a related operation on the same day, troops stationed at Ukpiam acted on intelligence provided by vigilant youths concerning suspected cattle rustling. The troops arrested a 23-year-old suspect, Terngu Aondohemba, who reportedly confessed to killing two cattle belonging to Fulani herders. He also implicated two accomplices, Akpehe and Ashinge, who are still at large.
Further investigation led security operatives to Korje Village in Daudu, where Mrs. Mercy Onban, wife of the alleged buyer of the stolen meat, was apprehended along with the recovered meat exhibits. Both suspects remain in custody pending further investigation.
The Force Commander of the Joint Task Force, Major General Moses Gara, condemned the attacks and criminality, affirming the commitment of Operation WHIRL STROKE to halting killings and cattle rustling in the Joint Operations Area.
He urged community leaders to strengthen collaboration with security agencies, stressing that timely intelligence sharing is critical to restoring lasting peace. Major General Gara also reassured law-abiding residents of the strong resolve of the Joint Task Force to protect lives and property across the region.
Operation Whirl Stroke arrests cow rustling suspects fuelling violence in Benue
Federal Government arraigns Nasir El-Rufai over alleged phone interception
By: Zagazola Makama
The Federal Government has charged former Kaduna State Governor, Mallam Nasir El-Rufai, before the Federal High Court, Abuja, over alleged unlawful interception of phone communications belonging to the National Security Adviser, Nuhu Ribadu.
Court documents showed that El-Rufai, 65, appeared as a guest on Arise TV’s Prime Time Programme on Feb. 13, 2026, where he reportedly admitted to involvement in the interception and to knowing individuals who carried out the act without reporting them to security agencies.
The charges, filed under TABU DET CR/99/2026, include: Count One, Allegedly admitting during the television interview that he and his associates unlawfully intercepted the phone communications of the National Security Adviser, contrary to Section 12 (1) of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024.
Count Two, Allegedly stating that he knew individuals who unlawfully intercepted the same communications but failed to report them, in violation of Section 27(b) of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024. Count Three, Allegedly using technical systems to compromise public safety and national security, and instilling apprehension among Nigerians, in breach of Section 131(2) of the Nigerian Communications Act, 2003.
The case, filed by a team of Federal Government lawyers led by ME Ernest, OM Owan, UM Bulla, CS Eze, and VE G. Orubor, is set to proceed with investigations and trial proceedings.
Authorities said the matter falls under the jurisdiction of the Abuja Judicial Division of the Federal High Court, where the accused will be required to respond to the charges.
The trial is expected to attract significant public attention given the high-profile nature of the accused and the sensitive security issues involved.
Federal Government arraigns Nasir El-Rufai over alleged phone interception
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