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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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Three chadian nationals feared dead as canoe capsizes in Gamboru-Ngala, Borno

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Three chadian nationals feared dead as canoe capsizes in Gamboru-Ngala, Borno

By: Zagazola Makama

Tragedy struck on Sunday evening in Gamboru-Ngala, Borno State, when a canoe carrying eight passengers capsized while crossing the river bordering Nigeria’s Gamboru town and Fotokol in Cameroon, leaving three persons feared dead.

Zagazola Makama gathered that the incident occurred at about 6:30 p.m. when the canoe, operated by one Mamman Nur Abbagana of Kasuwan Katako, Gamboru, overturned midstream with all passengers thrown into the water.

Security sources confirmed that all eight passengers were Chadian nationals travelling from Jos, Plateau State, en route to N’Djamena, Chad Republic.

Five passengers, whose identities were yet to be confirmed at press time, were rescued alive.

However, a woman identified as Alphosine Makebu Beboroum, 34, and her two daughters Centich Mamajibe, 3, and Mamajilem Bebaroum, 10 months, all Chadian nationals, drowned and had not yet been recovered as of Monday morning. The search and rescue mission is still ongoing.

Meanwhile, Police authorities also confirmed the arrest of the canoe paddler for violating the Borno State Government’s directive mandating the use of life jackets by all canoe and boat operators.

The command said preliminary investigations were ongoing.

Three chadian nationals feared dead as canoe capsizes in Gamboru-Ngala, Borno

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How Nigeria’s rapid military intervention in Benin reshaped West Africa’s anti-coup momentum

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How Nigeria’s rapid military intervention in Benin reshaped West Africa’s anti-coup momentum

By: Zagazola Makama

The failed coup attempt in Benin Republic is far more than an isolated disturbance in West Africa. It is a political earthquake whose tremors are being felt all the way from Cotonou to Bamako, Niamey and Ouagadougou.

For the military juntas entrenched in the Sahel, Sunday’s events were a nightmare scenario a decisive blow to their hope of expanding the “putschist club” across the region.

President Patrice Talon’s firm, composed address to the nation late Sunday night delivered the final stamp of legitimacy. But what many are now acknowledging is this: Nigeria’s swift and disciplined intervention was the game-changer.

In the early hours of the crisis, as coup plotters seized the National TV station and attempted to entrench themselves, the Government of the Republic of Benin activated its mutual defence channels with Abuja. Within minutes, Nigeria’s Chief of Defence Staff, General Olufemi Oluyede, acting under the directive of President Bola Ahmed Tinubu, activated a rapid-response military operation.

The Nigerian Air Force fighter jets were ordered into Beninese airspace to dominate the skies, neutralise hostile positions, and support loyalist forces. Simultaneously, Nigerian ground forces mobilised and crossed into Benin under Benin-led coordination, providing reinforcement to secure key installations and restore constitutional order.

This single act of regional leadership changed the trajectory of the coup, shattered the momentum of the plotters, and halted what could have become a prolonged national crisis.
ECOWAS was already mobilising, but Nigeria’s decisive action set the tone and provided the operational backbone that ended the coup within hours. It was a clear demonstration that Abuja remains the stabilising anchor of West Africa politically, diplomatically, and militarily.

As Talon spoke last night, the fear in junta capitals was visible. Social media networks aligned with the juntas scrambled to spin the failure: “It’s not over yet!” “Talon is bluffing!” “Stay vigilant!”

But beneath the bravado was panic. Their long-held dream to expand military rule into coastal West Africa had collapsed and Nigeria’s intervention made that collapse irreversible.The night became a theatre of desperation, with fake democrats, pseudo-intellectuals and Pan-African opportunists trying to salvage their ideological embarrassment. They resorted to tired diversionary tactics, attacking ECOWAS, questioning its motives, and searching for excuses.

But the truth was undeniable: The coup failed because the region, led by Nigeria, refused to allow another country to fall. But expected, some Nigerians, often those who do not follow security operations, took to social media asking: “Why didn’t Nigeria use this same energy against terrorists and bandits?”

An absurd question. It is as if these people have never seen the daily reports of: Dozens of terrorists neutralised across Zamfara, Katsina, Kaduna and Borno, mass destruction of ISWAP and Boko Haram enclaves, bandit kingpins eliminated, thousands of kidnapped victims rescued, large quantities of weapons recovered, aerial bombardments carried out week after week

Nigeria has been fighting terrorists with unmatched intensity, To compare the two operations, one a cross-border rapid-intervention mission lasting hours, and the other a domestic counterterrorism war spanning over 15 years is intellectually dishonest. What happened in Benin was not “energy Nigeria never shows.” It was a different type of mission a rapid, high-precision, multinational constitutional defence operation and Nigeria executed it flawlessly.

The larger significance of the failed coup is now evident. It has: exposed the weakness of the Sahel juntas, halted their push to expand military authoritarianism southwards, sent a message that ECOWAS has finally adapted and will no longer tolerate illegal takeovers and reaffirmed Nigeria’s decisive role in shaping regional security outcomes.

The supporters of the juntas are terrified and they should be. Because Sunday marked the beginning of a new countdown. The ideological project of the Sahel military regimes is weakening, and their attempt to export instability has backfired spectacularly. The next months will be critical. The Sahelian juntas, already struggling with insecurity, economic collapse, and public frustration, now face an emboldened regional order.

Nigeria’s leadership, demonstrated so clearly in Benin, has restored confidence that democratic stability in West Africa can and will be defended.

The failed coup in Benin did not only preserve a nation’s democracy. It reset the balance of power in the region. And Nigeria stood at the centre of that pivotal moment.

The clock is ticking for the putschist regimes.
History has resumed its rightful course.

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

How Nigeria’s rapid military intervention in Benin reshaped West Africa’s anti-coup momentum

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“Road Home is Open”: Zulum Brings Hope to 12 000 Nigerian Refugees in Cameroon

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“Road Home is Open”: Zulum Brings Hope to 12 000 Nigerian Refugees in Cameroon

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, has reaffirmed his administration’s commitment to restoring the dignity of victims of insurgency, including Nigerian refugees in the neighbouring countries of Cameroon, Chad, and Niger.

Governor Zulum gave this assurance while addressing refugees at the Minawao camp in Cameroon’s Far North region, as part of government efforts to repatriate those who remain. Over 12, 000 Nigerian refugees from Kirawa, Ngoshe, Ashigashiya and surrounding communities in Gwoza Local Government Area have been living in the camp for more than a decade.

The governor’s visit provided a significant relief and renewed optimism as he interacted with the refugees. For many, his presence signalled that the long road home was finally opening, describing the moment as their “first real assurance”.

Governor Zulum informed the refugees that adequate security arrangements have been put in place in their home communities, following years of expanded military operations and civilian security initiatives across Gwoza and other parts of Borno.

“The welfare of refugees, internally displaced persons, and returnees remains a priority for us,” Zulum said, noting that rebuilding the lives of insurgency survivors is a core pillar of his administration’s humanitarian and development agenda.

The governor also announced cash support for shelter rehabilitation for those willing to return, a measure designed to help returnees begin reconstructing their homes. In addition, he pledged to drill boreholes for the refugees.

“Borno State in partnership with the federal government will provide a cash assistance of N500 000 to each refugee that is willing to return home, while women households will be given N100,000 each,” Zulum announced.

The governor of the Far North Region, Cameroon, Mijinyawa Bakari, praised Governor Zulum’s unwavering commitment, describing his continued support for displaced Nigerians in Cameroon as exemplary and deeply humanitarian.

“Borno State Governor has consistently demonstrated genuine concern and responsibility for his people, even beyond Nigeria’s borders,” Bakari stated.

He acknowledged the sustained humanitarian assistance, particularly the governor’s long-standing interventions in the Minawao Refugee Camp.

“Zulum’s physical presence and hands-on support has not only provided relief to the refugees but has also strengthened cooperation between Nigeria and Cameroon in addressing displacement and regional stability,” he added.

During his visit, Governor Zulum also toured farmlands allocated to the refugees by the Cameroonian government, which have become their primary source of livelihood.

While assessing the fields, he commended the refugees’ resilience and the host authorities’ generosity. He assured farmers that his administration would support their agricultural activities by providing irrigation kits and water sources to boost productivity.

“Empowering refugees to maintain their livelihoods is central to restoring dignity and ensuring a smooth transition back into their communities,” Zulum stressed.

The governor was accompanied by the senator representing Borno South, Senator Mohammed Ali Ndume; the member of the House of Assembly representing Gwoza, Hon. Abdullahi Buba Abatcha; commissioners, the Chairman of Gwoza Local Government, and other officials.

“Road Home is Open”: Zulum Brings Hope to 12 000 Nigerian Refugees in Cameroon

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