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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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NiDCOM Repatriates 13 Nigerians Rescued from Traffickers in Ghana, Raises Alarm Over Irregular Migration

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NiDCOM Repatriates 13 Nigerians Rescued from Traffickers in Ghana, Raises Alarm Over Irregular Migration

By: Michael Mike

The Nigerians in Diaspora Commission (NiDCOM) has facilitated the return of 13 Nigerians rescued from a human trafficking syndicate in Ghana, in what officials describe as another stark reminder of the growing dangers facing citizens lured abroad with false promises.

Chairman/Chief Executive Officer of NiDCOM, Hon. Abike Dabiri-Erewa, praised the swift intervention of the Nigerian High Commission in Ghana for coordinating the rescue and repatriation of the victims. She said the successful operation underscores the Federal Government’s commitment to protecting Nigerians wherever they may be.

The returnees, comprising 11 adults and two infants aged just four weeks and 16 months, were received in Lagos by the Commission’s Head of Operations on behalf of the Chairman.

According to a statement by the spokesman of the Commission, AbdurRahman Balogun, the initial assessments revealed that some of the women and their children are battling serious health challenges and are currently undergoing medical treatment, alongside psychological support to address trauma experienced during their ordeal.

Dabiri-Erewa expressed appreciation to Nigeria’s First Lady, Oluremi Tinubu, for her consistent support in providing transportation and other critical logistics for rescue missions. She described such backing as vital in ensuring that vulnerable Nigerians are brought home safely and reintegrated with dignity.

As part of standard reintegration procedures, the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) conducted profiling and documentation of the victims, while NiDCOM coordinated logistical arrangements to facilitate their onward movement to their respective states.

The repatriation exercise was led by the Acting Nigerian High Commissioner to Ghana, Ambassador Moses Adeoye, working closely with relevant stakeholders and partner agencies to dismantle the trafficking network involved.

While welcoming the victims home, Dabiri-Erewa warned young Nigerians against falling prey to dubious recruitment agents and unverified overseas job offers. She stressed that irregular migration continues to expose many to exploitation, abuse and life-threatening conditions.

She reaffirmed NiDCOM’s resolve to strengthen collaboration with diplomatic missions, security agencies and civil society partners to combat human trafficking and provide timely intervention for citizens in distress abroad.

NiDCOM Repatriates 13 Nigerians Rescued from Traffickers in Ghana, Raises Alarm Over Irregular Migration

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NDLEA Nabs China-Based Businessman, Two Angolans as 236 Cocaine Pellets Recovered at Abuja, Kano Airports

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NDLEA Nabs China-Based Businessman, Two Angolans as 236 Cocaine Pellets Recovered at Abuja, Kano Airports

By: Michael Mike

Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested a China-based Nigerian businessman and two Angolan nationals after they excreted a combined 236 wraps of cocaine at the Nnamdi Azikiwe and Mallam Aminu Kano international airports.

The suspects—identified as Ibeanu Vincent Chukwudulue, 34; Mbandu Martins Makiadi, 50; and Ngoma Wilson Fernando, 52—were apprehended in separate operations in Abuja and Kano following intelligence-led surveillance.

Ibeanu was intercepted on February 4 at the Nnamdi Azikiwe International Airport while boarding a Qatar Airways flight from Kano to China via Doha. A body scan confirmed he had ingested illicit drugs. Under observation, he excreted 52 pellets of cocaine weighing 735.95 grams. He told investigators he previously ran a business on Lagos Island before relocating to Guangzhou, China, in 2024.

On the same day, NDLEA officers at the Mallam Aminu Kano International Airport arrested Makiadi and Fernando at the departure hall during clearance for an Ethiopian Airlines flight to Istanbul via Addis Ababa. Body scans confirmed drug ingestion. Makiadi expelled 76 wraps weighing 920 grams in seven excretions, while Fernando passed 108 pellets weighing 1.33 kilograms in five excretions.

The Angolan suspects, both from Hoji Ya Henda in Luanda, claimed they were recruited by an automobile spare parts dealer who promised them $3,000 each upon successful delivery of the drugs in Turkey.

In a related development, NDLEA operatives at the export shed of the Murtala Muhammed International Airport thwarted an attempt to smuggle 1.10 kilograms of cocaine to London, concealed in processed cassava granules (garri).

Investigations revealed that the plot was orchestrated from prison by Olashupo Michael Oladimeji, a convicted drug trafficker currently serving a five-year sentence at the Ikoyi Correctional Centre. Oladimeji had earlier been convicted by a Federal High Court in Lagos in 2025 for conspiracy to export 17.90kg of cocaine.

The latest consignment, hidden in a sack of garri packed inside a carton, was presented for export by Adedeji Yusuf Gbolahan, a staff member of Dimeji Express Logistics. NDLEA investigations indicated that Oladimeji coordinated the operation from custody and directed Yusuf to collect the consignment in Oshodi before taking it to the airport.

In another case at the Lagos airport, a 44-year-old estate surveyor, Adelaja Taiwo Adetayo, was arrested for attempting to ship 1.70 kilograms of skunk concealed in five jerry cans to the United Kingdom. The cargo agent who processed the consignment was also arrested, leading to a follow-up operation that tracked down Adelaja in Lagos.

In Abuja, NDLEA operatives intercepted a waybill package from Enugu containing a children’s toy guitar used to conceal 59.2 grams of Canadian Loud, a potent cannabis strain. A follow-up operation led to the arrest of the consignee, Henry Onuma, in Life Camp.

Meanwhile, in Lagos, NDLEA officers raided a four-bedroom duplex in the Lekki area used as a production hub for Colorado, a synthetic cannabis variant known locally as “Colos.” The operation followed the seizure of 73 cartons of nitrous oxide at Ajah–Epe Expressway, suspected to be linked to the facility. Two suspects were arrested, and 13.2 kilograms of freshly produced synthetic cannabis were recovered alongside precursor chemicals.

In Ibadan, Oyo State, a 45-year-old suspected drug dealer, Oluwayemisi Bunmi, was arrested with 1.189kg of Colos and skunk, 320 grams of methamphetamine, nearly ₦3 million in cash, and two vehicles.

In Kwara State, NDLEA operatives intercepted a vehicle conveying 105,400 pills of tramadol along the Bode Saadu axis, leading to the arrest of 43-year-old Kamilu Abdullahi.

Similarly, in Edo State, five suspects were apprehended during a raid on a forest camp in Ovia North East Local Government Area, where 563.5 kilograms of skunk were recovered.

Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd), commended officers across the MAKIA, MMIA, NAIA, Lagos, Edo, Kwara, FCT, and Oyo Commands for their professionalism and vigilance.

He urged continued commitment to the agency’s balanced strategy of drug supply reduction and drug demand reduction, even as NDLEA intensified its War Against Drug Abuse (WADA) sensitisation campaigns in schools and communities nationwide.

NDLEA Nabs China-Based Businessman, Two Angolans as 236 Cocaine Pellets Recovered at Abuja, Kano Airports

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Kwara Residents Call on the Federal Government to Rescue Residents Captured in Woro as a Video of Abductees Surfaces Online

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Kwara Residents Call on the Federal Government to Rescue Residents Captured in Woro as a Video of Abductees Surfaces Online

By:Bodunrin kayode

There has been urgent calls on the Federal, government with the military might to take swift action to rescue the 176 abducted residents of woro community back to safety away from captivity.

This came about after a disturbing video clip showing captured residents of the recent attack in Woro community, Kaiama council Area of Kwara State, surfaced online.

In the video, several women and young children, including infants, were paraded by the terrorists looking distressed and helpless.

A voice believed to be that of one of the attackers was heard behind the camera speaking in Hausa and questioning the victims about their numbers and were they were captured because they were quite a handful.

During the question and answer session the women and children responded that they were taken from Woro in Kaiama council so that their relations will know they are still alive.

“When asked how many they were, they answered that they were 176 in number. The same question was repeated to another woman in the video to confirm the figure.

” The person behind the camera also claimed that authorities had earlier announced a lower number of victims and said the video was proof of the actual figure.

“The victims were abducted after armed attackers invaded Woro community on February 3, 2025. During the attack, many lives were lost and homes were destroyed.

” The emergence of this video has increased fear and concern among residents and families of the victims.

“The people of the area continue to hope for the safe return of their loved ones and a lasting solution to the security challenges.” Said a source from the state.

Kwara Residents Call on the Federal Government to Rescue Residents Captured in Woro as a Video of Abductees Surfaces Online

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