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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
NAPTIP Uncovers Cybercrime-Trafficking Ring in Southeast Asia, Rescues 23 Nigerian Youths
NAPTIP Uncovers Cybercrime-Trafficking Ring in Southeast Asia, Rescues 23 Nigerian Youths
By: Michael Mike
The National Agency for the Prohibition of Trafficking in Persons (NAPTIP) has exposed an emerging human trafficking route funneling Nigerian youths to Southeast Asia for forced involvement in cybercrime, rescuing and repatriating 23 victims from Thailand.
The victims, mostly young and tech-savvy Nigerians, were allegedly deceived with promises of scholarships and high-paying jobs abroad before being trafficked to countries including Myanmar, Thailand, Laos and Cambodia. Instead of legitimate employment, they were reportedly compelled to participate in sophisticated online fraud schemes targeting victims across several continents.

Director General of NAPTIP, Binta Adamu Bello, described the development as a troubling shift in trafficking patterns, warning that criminal networks are now deliberately targeting educated and skilled youths.
“This is a disturbing evolution in the trafficking landscape,” Bello said. “The perpetrators are no longer focusing only on vulnerable, unskilled individuals. They now recruit intelligent young people with computer and IT skills, especially those with clean health backgrounds, under the guise of scholarships and professional opportunities.”
According to the agency, upon arrival in their destination countries, the victims were trained in cyber-enabled crimes such as romance scams, cryptocurrency fraud and fake investment schemes. Some were enrolled in language programmes, particularly in Chinese, and later deployed as translators or customer service agents to engage and deceive foreign targets.
The rescued youths reportedly revealed that they were housed in tightly controlled facilities and monitored by armed guards. They were assigned daily fraud targets and subjected to threats, intimidation and physical abuse if they failed to comply.
In some instances, victims alleged that those who resisted were tortured, while others claimed there were threats of organ harvesting, particularly against younger recruits perceived to be in good health.
NAPTIP said the rescue operation was carried out in collaboration with civil society organisation Eden (Myanmar), with significant support from the British Government and the Nigerian Embassy in Bangkok, which facilitated emergency travel documentation for the victims.

The agency noted that the latest operation aligns with its renewed crackdown on organised trafficking networks. Bello reiterated NAPTIP’s commitment to dismantling the syndicates behind the scheme and bringing the perpetrators to justice.
“We are strengthening our international partnerships and intelligence-sharing mechanisms to ensure these criminal networks are identified, disrupted and prosecuted,” she said.
Authorities said the 23 rescued Nigerians have arrived safely in the country and are currently undergoing profiling, counselling and rehabilitation as investigations continue.
The agency also urged parents, guardians and young professionals to be wary of overseas job offers that appear too good to be true, particularly those requiring travel to unfamiliar destinations without verifiable documentation.
The revelation underscores growing concerns about the convergence of human trafficking and transnational cybercrime, as criminal groups increasingly exploit digital skills to expand their illicit operations across borders.
NAPTIP Uncovers Cybercrime-Trafficking Ring in Southeast Asia, Rescues 23 Nigerian Youths
News
Buni commends Balarabe for his humanitarian contributions in Yobe
Buni commends Balarabe for his humanitarian contributions in Yobe
By: Yahaya Wakili
Yobe State Governor Hon. Mai Mala Buni CON, COMN, has commended the Managing Director/Chief Executive Officer of Sologuru Nigeria Limited, Alhaji Abdullahi Balarabe DJ Nguru, for his extraordinary humanitarian contribution to the reconstruction and modernization of Rugar Balarabe in the Nguru local government area of Yobe State.
Governor Buni made the commendation in a letter of appreciation personally written by him to Balarabe DJ, saying, “Your selfless decision to transform the site of the burnt Fulani settlement into a state-of-the-art community is a landmark achievement in private philanthropy.”
According to Buni, the comprehensive nature of the facilities provided, including modern two-bedroom residences, a functional clinic, a community mosque, solar-powered boreholes, and full solar electrification for both houses and streets, is truly commendable.
“By donating these essential amenities entirely free of charge, you have not only restored the dignity of the displaced families but have also significantly advanced our administration’s rural revitalization agenda,” Buni said.
“Your forward-thinking approach to sustainable infrastructure sets a high standard for civic leadership in Yobe State, and I thank you for your unwavering patriotism and commitment to the welfare of our citizens.
He revealed that it is my hope that your generous spirit serves as an inspiration to others.
Buni commends Balarabe for his humanitarian contributions in Yobe
News
Troops neutralise 16 terrorists, recover cache in Borno ambush
Troops neutralise 16 terrorists, recover cache in Borno ambush
By: Zagazola Makama
Troops of Joint Task Force North-East (JTF-NE) under Operation Hadin Kai and Operation Desert Sanity V have neutralised 16 suspected terrorists during an ambush in Borno State.
Zagazola learnt that the operation was carried out by troops of Sector 1 in conjunction with members of the Civilian Joint Task Force (CJTF), Hybrid Forces and local hunters.

According to the sources, the ambush was sprung at about 8:10 p.m. on Sunday at Komala Exchange Point, following a failed attack on Auno and credible intelligence on the movement of the same terrorist logistics elements.
“The troops, working with CJTF and other local components, successfully neutralised 16 terrorists and recovered a cache of arms, ammunition and logistics items,” the source said.
Items recovered from the scene included 62 wrappers, 76 pairs of shoes and slippers, 18 bicycles, 275 sachets of detergent, 50 packs of sweets, assorted local fragrances, milk sachets, vaseline, washing soap, groundnuts, seasoning, fruit drinks, palm oil and groundnut oil, mats, spaghetti, thread, matches, cups and spoons, sieves, flour, salt, bicycle tyres and equipment, sugar, cosmetics, local herbs and a cooler, among other items.
The sources said the recovered items were believed to be logistics supplies meant to sustain terrorist elements operating in the area.
Troops neutralise 16 terrorists, recover cache in Borno ambush
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