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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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No Badge Should Become a License to Kill — NHRC Condemns Alleged Extrajudicial Killing in Delta

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No Badge Should Become a License to Kill — NHRC Condemns Alleged Extrajudicial Killing in Delta

By: Michael Mike

The National Human Rights Commission (NHRC) has issued a strong condemnation of the alleged extrajudicial killing of a 28-year-old Nigerian, Mene Ogidi, reportedly shot by a police officer in Effurun, warning that the authority of law enforcement must never be abused to take lives unlawfully.

In a statement released in Abuja, the Executive Secretary of the Commission, Tony Ojukwu, described the April 26 incident as “deeply disturbing” and a direct violation of constitutional guarantees and the rule of law.

He stressed that no citizen should lose their life at the hands of those entrusted with their protection, noting that the reported conduct of the officer involved was “condemnable, unacceptable, and completely inconsistent with the principles of justice and a civilized society.”

The NHRC boss raised alarm over what he termed a troubling pattern of excessive force by security personnel, urging the Nigeria Police to take immediate and decisive action to curb the trend.

He called for systemic reforms, including mandatory periodic psychological and mental fitness evaluations for officers, particularly those deployed on special assignments, to ensure they are capable of handling firearms responsibly and engaging civilians within the bounds of the law.

Ojukwu further demanded swift disciplinary measures against the officer implicated in the incident, insisting that accountability must be pursued in line with existing laws and police regulations. He also pressed for the full implementation of recommendations from past panels on police brutality, arguing that meaningful reform remains critical to preventing future abuses.

“The Commission demands immediate arrest and a transparent investigation into the incident, dismissal of the officer involved, and swift prosecution in accordance with the law,” he said, adding that justice must also include adequate compensation for the victim’s family.

He warned that delays in justice risk eroding public trust in state institutions and weakening confidence in law enforcement agencies.

Reaffirming the Commission’s commitment to human rights protection, Ojukwu said the NHRC would closely monitor the case while continuing its advocacy for accountability and justice.

“Nigeria must never normalize brutality,” he said. “Justice must speak louder than silence.”

No Badge Should Become a License to Kill — NHRC Condemns Alleged Extrajudicial Killing in Delta

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Bangladesh Seeks Deeper Strategic Ties with Nigeria

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Bangladesh Seeks Deeper Strategic Ties with Nigeria

By: Michael Mike

The High Commissioner of Bangladesh to Nigeria has reaffirmed the commitment of both countries to deepen bilateral relations, describing Bangladesh and Nigeria as natural partners bound by shared aspirations for development, cultural understanding, and global cooperation.

Speaking at the Bangla New Year 1433 celebration in Abuja, the High Commissioner, Miah Md. Mainul Kabir, emphasized that although geographically distant, Bangladesh and Nigeria share strong historical and developmental parallels as populous, dynamic, and rapidly evolving economies in their respective regions.

He noted that the relationship between both countries has continued to expand steadily in recent years, particularly in areas of trade, education, capacity building, and cultural exchange.

According to him, there remains significant untapped potential for collaboration in sectors such as agriculture, pharmaceuticals, energy, ICT, and human capital development.

The High Commissioner stressed that cultural diplomacy remains a vital bridge in strengthening bilateral relations, adding that events such as the Bangla New Year celebration in Abuja provide an important platform for fostering mutual understanding between the peoples of both nations. He described such engagements as essential tools for building trust and expanding cooperation beyond formal diplomatic channels.

He further underscored the importance of people-to-people connections, noting that the Bangladeshi community in Nigeria plays a key role in reinforcing goodwill and serving as informal ambassadors of their country. He commended their contribution to Nigeria’s socio-economic environment while also preserving cultural identity abroad.

Reiterating Bangladesh’s interest in stronger engagement with Nigeria, the High Commissioner said both countries stand to benefit from enhanced cooperation in trade diversification, knowledge exchange, and investment partnerships. He expressed optimism that continued dialogue and cultural interaction would translate into more structured bilateral initiatives in the near future.

He described the celebration of the Bangla New Year in Abuja as a reflection of the growing warmth in bilateral relations and a symbol of shared commitment to friendship and mutual progress between Bangladesh and Nigeria.

The event was arranged by the High Commission of Bangladesh in Abuja. And present were Ambassadors, members of diplomatic corps, senior officials of the Ministry of Foreign Affairs, representatives of think tanks, media, business community of Nigeria and expatriate Bangladeshis. The venue was colourfully decorated with traditional Bangladeshi artifacts, symbols of cultural heritage. Diversity of Bangladesh’s landscape in different seasons were put on display. A spectacular cultural performance by Bangladeshi and Nigerian artists displaying different aspects of the six seasons of Bangladesh charmed the audience. Traditional Bangladeshi food items including various pithas were served among the guests.

Bangladesh Seeks Deeper Strategic Ties with Nigeria

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Troops Foil Motorcycle Snatching Attempt in Plateau by Berom Militia, Victim Later Dies

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Troops Foil Motorcycle Snatching Attempt in Plateau by Berom Militia, Victim Later Dies

By: Zagazola Makama

Troops of Sector 5 Operation Peace Enforcement (OPEP) have foiled an attempted motorcycle snatching incident in Bokkos Local Government Area of Plateau State by Berom Militia.

Security sources said that the incident occurred at about 7:20 p.m. on April 28 in Maiduna village, Dafof district, when armed individuals attacked a civilian and attempted to seize his motorcycle.

The sources said troops deployed at Maiduna general location responded swiftly to distress calls, forcing the attackers to abandon their mission and flee the scene.

According to the sources, the victim was rescued with injuries and his motorcycle recovered by troops during the operation.

They added that the victim was later evacuated to a clinic in Dafof, where he was confirmed dead despite medical attention.

The recovered motorcycle is currently in military custody, while efforts are ongoing to track and apprehend the fleeing suspects.

Troops Foil Motorcycle Snatching Attempt in Plateau by Berom Militia, Victim Later Dies

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