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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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Governor Buni speaks on primary elections where consensus failed

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Governor Buni speaks on primary elections where consensus failed

By: Yahaya Wakili

Governor Mai Mala Buni of Yobe State has revealed that the All Progressives Congress (APC) is open to a fair, credible, and transparent primary election if there is no general agreement on the consensus mode.

Governor Buni started this while commenting on the crisis rocking the party over the governor candidate for the 2027 general election. He said the party has not foreclosed direct election to produce its candidates for the contestable offices for the 2027 general election.

According to him, the party is still working on dialogue; “we are talking to each other and reaching out to the stakeholders, including the aspirants, to arrive at an amicable solution.”

“As the governor of Yobe state, I will be the happiest person to see that the state and party are peaceful and united, noting that we remain citizens of Yobe state and members of APC.

“My expectation is to see us more united and collectively working for our candidates to win the 2027 general elections,” Governor Buni said.

Governor Buni further said, “As a founding member, former secretary, and national chairman of the All Progressives Congress (APC), the unity and progress of the party mean so much to me personally; therefore, I will continue to support and protect the ideals of the party to remain Nigeria’s ruling political party.”

He expressed optimism that the aspirations for public offices in the state are driven by the desire to serve the people for a better and improved life.

Governor Buni speaks on primary elections where consensus failed

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Troops Arrest Suspected Kidnapper in Kaduna State, Recover Phone and Cash

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Troops Arrest Suspected Kidnapper in Kaduna State, Recover Phone and Cash

By: Zagazola Makama

Troops of Sector 7, Operation Enduring Peace (OPEP), in collaboration with the Civilian Joint Task Force (CJTF), have arrested a suspected kidnapper in Kamuru village in Zangon Kataf Local Government Area of Kaduna State.

Security sources said the arrest was made at about 0330 hours on May 12 during a coordinated operation in the area.

The suspect, identified as Mr. Husaini Jibrin, 45, was reportedly apprehended at Kamuru village over alleged involvement in a kidnapping incident that occurred in Angwan Ali community on April 26, 2026, within the same local government area.

According to the sources, the suspect is believed to be linked to the planning and execution of the abduction, which had triggered security concerns in surrounding communities at the time.

Items recovered from the suspect include one mobile phone and the sum of ₦10,000 in cash.

The military said the suspect is currently in custody and undergoing interrogation as part of ongoing investigations aimed at dismantling kidnapping networks operating in the region.

Authorities added that troops have intensified surveillance and patrol operations across vulnerable communities in southern Kaduna to curb criminal activities and improve public safety.

Operation Enduring Peace continues to conduct joint operations with local security outfits and community-based structures as part of efforts to address insecurity in affected areas.

Troops Arrest Suspected Kidnapper in Kaduna State, Recover Phone and Cash

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Troops Repel Attack in Plateau State, Two Residents Killed — Military Launches Manhunt

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Troops Repel Attack in Plateau State, Two Residents Killed — Military Launches Manhunt

By: Zagazola Makama

Troops of Sector 6, Operation Enduring Peace (OPEP), have repelled an armed attack on an isolated settlement in Vwang Kagot community in Jos South Local Government Area of Plateau State, in an incident that left two civilians dead.

Security sources said the troops responded swiftly at about 0130 hours on May 12 following reports of an attack by suspected armed assailants on the rural community.

The attackers, reportedly described as suspected armed herdsmen, stormed the settlement and engaged in violent activities before the arrival of security forces.

Upon intervention, troops in collaboration with Keystone Kuru Division forced the assailants to withdraw from the area.

However, the attackers had already killed two residents identified as Ngo Shetu Badung, 78, and Mr. Danjuma Badung, 52, before fleeing the scene.

Following the incident, troops launched clearance operations in the general area and are currently trailing the fleeing suspects.

Military authorities said additional patrols and surveillance measures have been intensified to prevent further attacks and reassure residents of their safety.

Operation Enduring Peace noted that it remains committed to stabilising vulnerable communities across Plateau State and ensuring that perpetrators of violent attacks are brought to justice.

Local security stakeholders have also continued engagements with community leaders to strengthen early warning systems and improve response to emerging threats in rural settlements.

Troops Repel Attack in Plateau State, Two Residents Killed — Military Launches Manhunt

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