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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
Troops engage armed bandits in heavy gun battle during raid on suspected hideout in Zamfara
By: Zagazola Makama
Troops of Operation FANSAN YANMA have reportedly engaged armed bandits in a heavy gun battle during a clearance operation at Yankuzo area in Tsafe Local Government Area of Zamfara state.
Security sources said the operation followed aggressive fighting patrol on armed groups into the area, believed to be a stronghold used by suspected bandit elements operating within the axis.
According to the sources, troops advanced into deep into the terrorists enclave of Ado Allero in the early hours of the day and made contact with the armed men, leading to an exchange of fire that lasted for several minutes.
Residents reported heavy gunfire during the confrontation.
Although details of casualties were still being assessed at the time of filing this report, security sources confirmed that troops maintained dominance of the general area and continued pursuit of fleeing armed elements.
Troops engage armed bandits in heavy gun battle during raid on suspected hideout in Zamfara
Troops rescue three kidnapped victims during operation in Niger State
By: Zagazola Makama
Troops of Operation FANSAN YAMMA have rescued three kidnapped victims during a swift response to a distress call in Kusheri village area of Niger state.
Security sources told Zagazola Makama that the incident occurred on April 21, 2026, when armed bandits invaded the community and abducted three civilians identified as Abdullahi, Saidu Julfe and Kamilu Joddi.
According to the sources, troops deployed at Forward Operating Base Dokan Karji immediately mobilised after receiving the distress alert and advanced towards the area of operation.
On arrival, the troops discovered that the attackers had already fled the scene with the abducted victims towards the Kafin Gora axis.
The troops subsequently launched a pursuit operation, engaging the fleeing suspects in intermittent contact before successfully rescuing all three hostages unharmed.
The rescued victims were later handed over for medical evaluation and debriefing, while troops withdrew to base after securing the general area.
Security sources confirmed that the situation within the area of responsibility remains calm but unpredictable, adding that patrols and surveillance operations have been intensified to prevent further incidents.
They further noted that troop morale and combat effectiveness remain high as operations continue across vulnerable communities within the state.
Troops rescue three kidnapped victims during operation in Niger State
Troops kill suspected Boko Haram fighter in Yobe, recover rifle, motorcycles
By: Zagazola Makama
Troops of Operation Hadin Kai have killed a suspected Boko Haram insurgent during a confrontation in Lotori-Garbiya village, Tarmuwa Local Government Area of Yobe state.
Sources said the incident occurred on April 20 at about 7:00 p.m. after gunmen suspected to be Boko Haram elements stormed the community and imposed illegal levies on residents.
According to the sources, security forces were swiftly mobilised following a distress call and engaged the attackers in a gun battle.
One of the suspected insurgents was killed during the encounter, while others reportedly fled into surrounding bushes.
The sources said an AK-47 rifle and two Kasea motorcycles were recovered at the scene.
Security authorities confirmed that the area had been placed under close surveillance, while patrols were intensified to prevent further attacks.
They added that efforts were ongoing to track down fleeing members of the group.
Troops kill suspected Boko Haram fighter in Yobe, recover rifle, motorcycles
Earth Day 2026: HOMEF Calls for Urgent Climate Action as Nigeria’s Environmental Crises Deepen
Troops engage armed bandits in heavy gun battle during raid on suspected hideout in Zamfara
Troops rescue three kidnapped victims during operation in Niger State
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