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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
Seven dead, five injured in multiple-vehicle crash along Lokoja–Abuja highway
Seven dead, five injured in multiple-vehicle crash along Lokoja–Abuja highway
By: Zagazola Makama
At least seven persons were killed and five others injured on Tuesday morning in a multiple-vehicle collision along the Lokoja–Abuja highway near Gadabiu Village, Kwali Local Government Area of the Federal Capital Territory (FCT).
Sources told Zagazola Makama that the accident occurred at about 9:00 a.m. when a Howo truck, with registration number ANC 665 XA, driven by one Adamu of Tafa Local Government Area, Kaduna State, lost control and rammed into three stationary vehicles parked along the road.
The affected vehicles included a Golf 3 (GWA 162 KZ), another Golf and a Sharon vehicle.The drivers of the three stationary vehicles are yet to be identified.
The sources said the Howo truck had been travelling from Okaki in Kogi State to Tafa LGA in Kaduna State when the incident occurred. Seven victims reportedly died on the spot, while five sustained various degrees of injuries, including fractures.
The injured were rushed to Abaji General Hospital, where they are receiving treatment. The corpses of the deceased have been released to their families for burial according to Islamic rites.
The police have advised motorists to exercise caution on highways and called on drivers to ensure their vehicles are roadworthy to prevent similar accidents in the future.
Seven dead, five injured in multiple-vehicle crash along Lokoja–Abuja highway
News
How misdiagnosis, narratives are fuelling Nigeria’s banditry escalation
How misdiagnosis, narratives are fuelling Nigeria’s banditry escalation
By: Zagazola Makama
Nigeria’s banditry crisis is no longer escalating simply because armed groups are growing bolder. It is escalating because the country continues to misdiagnose the threat, apply blunt policy tools to differentiated actors, and unintentionally feed a violent criminal economy through ransom payments, politicised narratives and delayed state consolidation.
Across the North-West and parts of the North-Central, banditry has evolved beyond rural violence into a structured, profit-driven security threat. Yet public debate remains trapped between emotional appeals for dialogue and absolutist calls for force, leaving little room for the strategic clarity required to halt the violence.
At the heart of the escalation is money. Banditry today survives on a diversified revenue architecture that includes ransom payments, cattle rustling, illegal mining, arms trafficking, extortion levies on farming and mining communities, and collaboration with transnational criminal networks. Each successful kidnapping or “peace levy” reinforces the viability of violence as a business model.
Data released by the National Bureau of Statistics (NBS) in December 2024 underlined the scale of this economy with the North-West accounting for the highest number of kidnap incidents and victims.
Zagazola argue that as long as communities remain unprotected and ransom payments continue as a survival strategy, banditry will regenerate faster than military operations can suppress it. This is not ideology-driven violence at its core; it is cash-flow-driven criminality as every payment funds the next attack.
Another accelerant is Nigeria’s persistent failure to differentiate categories of armed actors. Security assessments increasingly point to at least two distinct groups operating within the banditry ecosystem.
The first consists of low-level, defensive armed actors, often rural residents who acquired weapons after suffering attacks and whose violence is reactive rather than predatory. The second group comprises entrenched, profit-driven bandit networks responsible for mass kidnappings, village destruction, sexual violence, arms trafficking and territorial control.
Yet public discourse and policy responses frequently collapse these actors into a single category of “bandits,” resulting in indiscriminate dialogue offers, blanket amnesty rhetoric or, conversely, broad-brush security operations that alienate communities. This conceptual error, allows high-value criminal leaders to masquerade as aggrieved actors while exploiting negotiations to buy time, regroup and rearm.
Dialogue has repeatedly been applied in contexts where the state lacks coercive leverage. Experiences in Zamfara, Katsina, Sokoto and Kaduna states and parts of the North-West show a consistent pattern: temporary reductions in violence following peace deals, followed by rapid relapse and escalation. Officials who participated in the dialogue have openly acknowledged that many agreements collapsed within months.
The negotiations conducted without sustained military pressure, intelligence dominance and post-agreement enforcement mechanisms merely incentivise armed groups to pause tactically. When criminals negotiate from a position of strength, dialogue becomes appeasement.
Perhaps the most dangerous accelerant is the ethnicisation of banditry. Although criminal gangs include actors of identifiable ethnic backgrounds, the violence itself is not driven by ethnic grievance. Nonetheless, selective media framing and political rhetoric like what had been witnessed in Plateau have increasingly cast banditry through identity lenses, particularly in farmer–herder contexts.
This framing obscures the criminal logic of the violence and deepens mistrust between communities that are themselves victims. In Nigeria today, the fulani herdsmen and pastoralists communities are being weaponized and stereotyped as bandits. This dangerous persecution has strengthens bandit recruitment narratives, allowing criminal leaders to cloak profit-driven violence in claims of ethnic persecution or genocide.
Historical records and sociological studies show that Fulani, Hausa, Tiv, Berom and other communities coexisted for decades through complementary economic systems. The breakdown of this coexistence has been exploited by armed groups seeking cover, recruits and informants. Security agencies possess significantly more intelligence on bandit networks than is visible in public debate. Lawful interceptions, human intelligence and post-operation assessments routinely reveal financial motives, supply routes and internal hierarchies within armed groups.
However, public advocacy for dialogue often relies on forest-level engagements that security officials describe as “theatrical performances” by bandits choreographed grievances designed to elicit sympathy and concessions. The disconnect between classified intelligence and public narratives has allowed emotionally compelling but strategically flawed arguments to dominate national discourse.
Another escalation factor is the emerging convergence between bandit networks and ideological terrorist groups as Nigeria’s internal security landscape firmly indicates that what has long been treated as banditry especially in the North-West and parts of North-Central Nigeria has evolved into a hybrid jihadist campaign, driven by Boko Haram (JAS faction) and reinforced by JNIM elements operating from Sahelian-linked forest sanctuaries. Shared arms supply chains, training exchanges and joint operations could transform banditry from criminal violence into full-spectrum insurgency if unchecked. Nigeria’s past experience with Boko Haram demonstrates the cost of dismissing such convergence as isolated or exaggerated.
Military operations have succeeded in degrading bandit camps in several corridors, but the absence of immediate governance has allowed violence to recycle. Clearing operations not followed by permanent security presence, functional courts, reopened schools, healthcare and markets leave vacuums that criminal actors quickly refill. Bandits and other criminals thrive where state authority is episodic rather than continuous. Security victories without governance consolidation merely displace violence spatially and temporally.
Therefore, Nigeria must urgently reset its approach by formally adopting threat differentiation, choking financial lifelines, regulating community defence structures, and ensuring intelligence-led, precise enforcement against high-risk criminal networks. Dialogue, they say, must be selective, conditional and embedded within formal disarmament and reintegration frameworks not deployed as a moral reflex.
Above all, the state must reclaim narrative control by defining banditry clearly as organised criminal violence, not a sociological misunderstanding. As one senior official put it, “Banditry escalates where sentiment overrides strategy. The cure begins with honesty.”
Without that honesty, Nigeria risks allowing a violent criminal economy to entrench itself deeper into the country’s security architecture at a cost measured not just in money, but in lives, legitimacy and national cohesion.
How misdiagnosis, narratives are fuelling Nigeria’s banditry escalation
News
ISWAP kills 10 JAS fighters in Kukawa as rivalry clashes escalates
ISWAP kills 10 JAS fighters in Kukawa as rivalry clashes escalates
By: Zagazola Makama
No fewer than 10 fighters of the Jama’atu Ahlis Sunna Lidda’awati wal-Jihad (JAS) were killed on Jan. 8 during a night attack by the rival Islamic State West Africa Province (ISWAP) at Dabar Ledda, within the Doron Naira axis of Kukawa Local Government Area (LGA) of Borno State.
Security sources told Zagazola Makama that ISWAP fighters launched a surprise assault on a JAS checkpoint, locally referred to as an Irasa, in the Dabar Ledda area, overwhelming the position after a brief but intense clash.
Sources familiar with developments in the area told Zagazola Makama that the attack ended decisively in ISWAP’s favour, with about 10 JAS fighters killed. Following the operation, ISWAP elements were said to have withdrawn swiftly to their major stronghold located between Kangarwa and Dogon Chuku, also within Kukawa LGA.
Both group has, in recent years, focused on degrading each other’s capabilities in an attempt to consolidate control over key corridors around Lake Chad as well as Sambisa Forest.
However, the latest clash is expected to trigger a violent response. Intelligence reports suggest that JAS leadership, acting on directives allegedly issued by Abu Umaima, has ordered mobilisation of fighters across the northern and central parts of the Lake Chad region of Borno (LCRBA) in preparation for retaliatory attacks.
The planned counter-offensive could lead to an upsurge in large-scale attacks in the days and weeks ahead, particularly around the Kangarwa–Dogon Chuku corridor, an area that has witnessed repeated factional battles due to its strategic value for logistics, recruitment and access routes.
While the infighting has historically weakened Boko Haram/ISWAP overall cohesion, Zagazola caution that intensified clashes often come at a heavy cost to civilians, as armed groups raid communities for supplies, conscripts and intelligence. Kukawa LGA, already battered by years of insurgency, remains highly vulnerable whenever such rivalries escalate.
ISWAP kills 10 JAS fighters in Kukawa as rivalry clashes escalates
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