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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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Council Durbar inaugurated to revive cultural heritage—Committee Secretary

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Council Durbar inaugurated to revive cultural heritage—Committee Secretary

By: Yahaya Wakili

The Bade emirate council durbar committee was inaugurated three years ago by His Royal Highness, the Mai of Bade, Alhaji Abubakar Umar Suleiman, with sole responsibility to revive and improve the cultural heritage of the emirate.

The secretary of the committee, Alhaji Sale Garba Suleiman, disclosed this to newsmen in Gashua, the headquarters of the emirate. He said, By reviving our cultural heritage, our younger generation will grow up with their own culture.

He revealed that the committee will solicit advice and cooperation from the Yobe State Art and Culture Board to improve and boost our cultural heritage and also advise other emirates to emulate what the Bade Emirate Council is doing.

Sale maintained that his royal father was the first person who put his contribution into the committee account; therefore, he appealed to all sons and Bade emirate lovers to contribute generously to this committee.

The Secretary thanks and deeply appreciates the leadership of His Royal Highness, the Mai of Bade, Alhaji Abubakar Umar Suleiman, for his dedication to preserving the rich cultural heritage of Bade.

He also commended the effort of Hon. Yau Usman Dachia, Deputy Speaker of the Yobe House of Assembly, for his support, encouragement, and contribution to rendering this committee able to execute its function successfully.

Council Durbar inaugurated to revive cultural heritage—Committee Secretary

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CLARIFICATION: No New Terrorist Group in Kwara, Mahmouda is a Boko Haram Commander Collaborating with Bandits

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CLARIFICATION: No New Terrorist Group in Kwara, Mahmouda is a Boko Haram Commander Collaborating with Bandits

By: Zagazola Makama

Contrary to recent reports circulating on social and traditional media suggesting the emergence of a new terrorist organization in Kwara State, security sources have clarified that no new group has been formed. The figure at the center of these reports, Mahmouda, is not a name of a new terrorist group, but rather a known Boko Haram commander.

Mahmouda is a veteran Boko Haram fighter who initially operated in Borno State before relocating to Kaduna, where he briefly collaborated with the notorious terror kingpin, Sadiku. He later moved into the Shiroro and Rafi axis of Niger State, where he aligned with the remnants of Darul Salam, recruiting dozens of youths and enforcing extremist laws particularly on Fulani herdsmen.

Security intelligence confirms that Mahmouda has since moved some of his fighters further southwest into the forests bordering Kwara State, where he has established ties with local bandit groups. These elements are not a new organization but are extensions of Boko Haram collaborating with bandits already operating in the North West.

This clarification comes in the wake of past denials from security agencies. When intelligence analyst Zagazola Makama previously raised the alarm about the movement of terrorists toward Kwara, the Police issued a rebuttal, describing the report as fear-mongering.

However, with recent attacks and the presence of insurgent elements now being confirmed in parts of Kwara, observers are questioning the responsiveness and preparedness of authorities.

“What will the Police say now that the very thing they denied has begun to happen?” a senior security source queried.

Authorities are now being urged to act swiftly and decisively to prevent Mahmouda and his collaborators from entrenching themselves in the North Central corridor. Analysts warn that failing to address this threat early could result in Kwara becoming another flashpoint in Nigeria’s protracted insurgency.

Security agencies have been advised to increase intelligence operations, deploy special forces, and establish a proactive counter-insurgency presence in border forests between Niger and Kwara states to neutralize the threat before it escalates.

CLARIFICATION: No New Terrorist Group in Kwara, Mahmouda is a Boko Haram Commander Collaborating with Bandits

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FAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS

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FAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS

By: Zagazola Makama

The government of Burkina Faso has announced the foiling of an attempted coup allegedly involving President Ibrahim Traoré’s Chief of Staff and a network of foreign and local actors, in what authorities describe as a sophisticated plot to assassinate the junta leader and destabilize the Sahel nation.

The accused high-ranking official, whose name has not been officially disclosed, was arrested after reportedly confessing to accepting a bribe of 25 billion CFA francs (approx. $41 million USD) and an arms shipment allegedly facilitated through Côte d’Ivoire with French involvement.

The plot, uncovered through a military-led internal investigation, was said to be in the advanced planning stages. The confession reportedly links foreign powers to the destabilization attempt, with security sources accusing France Burkina Faso’s former colonial ruler of channeling weapons through Ivorian President Alassane Ouattara’s network. The French and Ivorian governments have not responded to the allegations as of the time of filing this report.

“This is a grave betrayal of national sovereignty,” the Ministry of Security said in a statement. “The Burkinabé people remain resolute and united behind President Ibrahim Traoré, whose leadership continues to command overwhelming support in our fight against insecurity and external manipulation.”

The revelation has triggered increased security in Ouagadougou and its environs, with checkpoints erected across key routes and military deployments strengthened at sensitive installations. The government says nine individuals, including foreign nationals, have so far been arrested in connection to the attempted coup.

Since assuming power in 2022, Captain Ibrahim Traoré has charted a new course in Burkina Faso’s foreign relations, distancing from Western powers particularly France and deepening strategic and military ties with Russia and fellow juntas in Mali and Niger under the Alliance of Sahel States (AES).

This realignment has heightened tensions in West Africa, with regional power blocs increasingly split between pro-Western governments and military-led regimes advocating self-determination and reduced foreign interference. Security experts suggest that Traoré’s pivot and strong anti-colonial rhetoric may have provoked foreign interests seeking to retain influence in the mineral-rich nation.

However, Zagazola could not independently verify the claims of external funding or logistical support to the coup plotters.

Burkina Faso has faced growing insecurity with large portions of its territory under the control of jihadist groups linked to al-Qaeda and the Islamic State. Multiple coups, the most recent in 2022, have reflected the country’s fragile political climate and rising frustration over government inaction. Traoré’s administration has pursued aggressive counter-insurgency campaigns and citizen mobilization, gaining popularity among some segments of the population but also drawing criticism for limited democratic oversight.

Zagazola Makama is a Counter Insurgency Expert and Security Analyst in the Lake Chad Region

FAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS

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