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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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Troops Intervene in Farm Destruction Incident in Plateau, Move for Peaceful Resolution

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Troops Intervene in Farm Destruction Incident in Plateau, Move for Peaceful Resolution

By Zagazola Makama

Troops of Operation Safe Haven have intervened in a reported farm destruction incident in Lamingo village, Jos East Local Government Area of Plateau State.

Security sources said the incident occurred at about 5:10 a.m. on May 3 when troops of Sector 1 (Sub-Sector 12), Lamingo, responded to a distress report of cattle grazing within the compound of one Mrs. Shittu Yakubu.

The sources disclosed that upon arrival, the troops intercepted the cattle, while the herder fled the scene on sighting security personnel.

According to the sources, the owner of the cattle, identified as Alhaji Mamuda Ibrahim, has since been contacted to facilitate an amicable resolution of the incident.

They added that the situation was brought under control without further escalation.

The sources noted that efforts are ongoing to strengthen community engagement and prevent recurrence of similar incidents in the area.

Troops Intervene in Farm Destruction Incident in Plateau, Move for Peaceful Resolution

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Troops Rescue Five Kidnap Victims in Kogi After Pursuit of Abductors

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Troops Rescue Five Kidnap Victims in Kogi After Pursuit of Abductors

By Zagazola Makama

Troops of the Nigerian Army have rescued five kidnapped victims following a swift response to a kidnap incident along the Okpella–Okene Road in Okene Local Government Area of Kogi State.

Security sources said the operation was carried out at about 12:43 a.m. on May 3 by troops of 195 Battalion (Reinforced) deployed at Forward Operating Base Okpella.

The sources disclosed that the troops, while on night patrol, responded to a distress call indicating that a vehicle had been attacked and its occupants abducted.

According to the sources, the troops immediately pursued the kidnappers, forcing them to abandon the victims and flee into the surrounding bush.

They added that five victims were successfully rescued during the operation, while two of them sustained injuries.

The injured victims were evacuated to the ENAW Dialysis Centre for medical attention, while others were stabilised.

The sources noted that follow-up operations are ongoing to track down the fleeing suspects and prevent further criminal activities along the axis.

Troops Rescue Five Kidnap Victims in Kogi After Pursuit of Abductors

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Where Justice Mark Chidiebere Crossed the Line

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Where Justice Mark Chidiebere Crossed the Line

By Zagazola Makama

The recent arrest and handover of Justice Mark Chidiebere, popularly known as Justice Crack, to the Department of Security Services has sparked predictable debates about free speech, accountability, and the limits of online activism. But beneath the noise lies a more serious issue one that goes beyond blogging and into the sensitive terrain of national security.

From available details, the turning point was not mere criticism of the military. Democracies tolerate, and even benefit from, scrutiny of their institutions. The red line appears to have been crossed when private conversations between the blogger and serving soldiers suggested alignment around “change of government.” In any country, that phrase, especially when involving active-duty personnel is not taken lightly. No professional military, whether in Nigeria or elsewhere, would ignore such signals once credible evidence emerges.

The Nigerian Army’s response, therefore, should be viewed through that lens. This is an institution that has, in recent months, remained alert to internal and external threats, including failed attempts by rogue elements to destabilise the system. When a civilian is perceived rightly or wrongly to be encouraging disaffection or coercing soldiers within the ranks, it triggers an entirely different category of concern. At that point, it is no longer about opinion, it becomes a question of discipline, cohesion, and national stability.

This is where many content creators must draw a hard lesson. The digital space is not a vacuum. Conversations especially with uniformed personnel carry consequences. Amplifying unverified allegations, engaging soldiers in sensitive political discussions, or projecting narratives that could be interpreted as incitement can quickly move from advocacy into dangerous territory. The line is not always visible, but it is very real.

There is also the broader issue of responsibility. Too often, fragments of internal grievances are pushed into the public domain without context or verification, feeding a cycle where the military is portrayed only through its shortcomings. While criticism is legitimate, a pattern of reckless amplification erodes public confidence and, more importantly, can embolden hostile actors who thrive on internal discord.

If indeed the conversations attributed to Justice Mark Chidiebere reflect attempts to influence serving soldiers toward political ends, then the response by authorities was not just expected; it was inevitable.

What we must all know is that freedom of expression does not extend to actions that could undermine the stability of the state. In an era where a single message can travel faster than any bullet, knowing where the line is and choosing not to cross it has never been more important.

Where Justice Mark Chidiebere Crossed the Line

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