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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
News
Nigeria Reaffirms Commitment to Global Anti-Drug War as NDLEA Officers Graduate from U.S. DEA Academy
Nigeria Reaffirms Commitment to Global Anti-Drug War as NDLEA Officers Graduate from U.S. DEA Academy
By: Michael Mike
Nigeria has reaffirmed its commitment to strengthening global collaboration in the fight against illicit drug trafficking and transnational organised crime as officers of the National Drug Law Enforcement Agency (NDLEA) completed advanced training at the United States Drug Enforcement Administration (DEA) Training Academy in Quantico, Virginia.
Speaking at the graduation ceremony on Friday, NDLEA Chairman and Chief Executive Officer, Brig. Gen. Buba Marwa (Rtd), said the increasing sophistication of criminal networks across borders requires deeper international cooperation and a coordinated global offensive.
Marwa stressed that criminal syndicates no longer operate within isolated territories, making intelligence sharing, joint operations and capacity building among nations indispensable in dismantling drug cartels and organised crime groups.
The ceremony, held at the elite DEA Training Academy, brought together officers from Nigeria, Ghana and Kenya for an intensive programme designed to sharpen investigative, operational and strategic enforcement capabilities. Participants were equipped with advanced skills to combat complex drug trafficking networks and related transnational crimes.
Describing the event as deeply significant, Marwa noted that the course was dedicated to members of the Special Investigative Unit (SIU) who paid the ultimate price in the line of duty. He paid tribute to the fallen officers, describing them as heroes whose courage and sacrifice continue to inspire law enforcement agencies worldwide.
Referencing the course motto, “Different nations, shared duty, one fight,” Marwa said it captured the collective resolve of partner countries against the global drug menace. He emphasised that only a unified, intelligence-driven response can effectively confront criminal enterprises that thrive on cross-border operations.
The NDLEA boss expressed confidence that the knowledge and competencies acquired by the graduating officers would significantly enhance the operational effectiveness of their respective agencies. He charged them to apply the training with integrity, professionalism and courage upon returning home, while upholding the highest standards of service.
Marwa also conveyed Nigeria’s appreciation to the United States Department of Justice, the DEA leadership and instructors for their continued mentorship and investment in capacity development.
He said the graduation marked not the end of training but the beginning of renewed responsibility, urging the officers to protect vulnerable communities and confront criminality wherever it threatens societal stability.
Marwa expressed optimism that the partnership between the NDLEA and the DEA would continue to deepen, yielding sustained success in the shared fight against illicit drugs and organised crime.
Nigeria Reaffirms Commitment to Global Anti-Drug War as NDLEA Officers Graduate from U.S. DEA Academy
VP Shettima Attends High-Level Meeting On Africa’s Health Security Sovereignty
By: Our Reporter
Shortly after his bilateral discussions with United Nations Secretary-General António Guterres, Vice President Kashim Shettima moved on to a high-level meeting on Building Africa’s Health Security Sovereignty on the sidelines of the African Union Summit in Addis Ababa, Ethiopia.
The session, organized by Africa CDC and fully supported by the Nigerian government, convenes African leaders and health policymakers to chart the path toward strengthening the continent’s health emergency preparedness, response systems, and pharmaceutical independence.
Joining the Vice President at the meeting are key Nigerian officials including the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, and Minister of Foreign Affairs, Amb. Yussuf Tuggar.
Other African health ministers in attendance include Dr. Ibrahim Sy of Senegal, Madalisto Baloyi of Malawi, and Dr. Mekdes Daba of Ethiopia.
VP Shettima Attends High-Level Meeting On Africa’s Health Security Sovereignty
ISWAP suspected in Baga abduction of five civilians
By: Zagazola Makama
Five civilians were abducted on Feb. 12, 2026, by suspected Boko Haram/ISWAP terrorists in Doro Baga, Kukawa Local Government Area, Borno State, the Police Command reported.
Sources disclosed that the victims, Alhaji Sani Boyi, Bullama Dan Umaru, Baba Inusa, Abubakar Jan Boris, and Mallam Shaibu, were taken while purchasing fresh fish at a local market around 7:00 a.m.
The troops of Sector 3 Operation HADIN KAI, Civilian Joint Task Force (CJTF)/hunters immediately responded to the incident.
Relevant intelligence has been gathered, and search and rescue operations are ongoing to secure the release of the victims.
ISWAP suspected in Baga abduction of five civilians
Nigeria Reaffirms Commitment to Global Anti-Drug War as NDLEA Officers Graduate from U.S. DEA Academy
VP Shettima Attends High-Level Meeting On Africa’s Health Security Sovereignty
ISWAP suspected in Baga abduction of five civilians
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