News
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
Troops Foil ISWAP Attack Attempt in Guzamala
Troops Foil ISWAP Attack Attempt in Guzamala
By: Zagazola Makama
Troops of Sector 3 Area of Responsibility have foiled an attempted attack by suspected ISWAP/JAS terrorists on Forward Operating Base (FOB) Mairari in Guzamala Local Government Area of Borno State.
Sources said the incident occurred at about 1329hrs on April 19, when the terrorists attempted to infiltrate the base through Charlie/Delta Company axis.
The attackers, operating with two gun trucks, were sighted advancing toward the entrance gate of Mairari town along the Gajiram axis.
Troops immediately engaged the advancing terrorists, forcing them to abandon their mission and retreat.
Following the encounter, troops dominated the general area with patrols, while air support was also deployed and hovered over the vicinity. However, no further terrorist presence was observed after the exchange.
Security sources said exploitation and clearance operations are ongoing to prevent regrouping and to secure surrounding communities.
Troops Foil ISWAP Attack Attempt in Guzamala
News
Troops Arrest Suspected Terror Logistics Couriers in Kogi State
Troops Arrest Suspected Terror Logistics Couriers in Kogi State
By: Zagazola Makama
Troops under Operation MESA have arrested two suspected terrorist logistics couriers along the Obajana–Kabba road in Lokoja Local Government Area of Kogi State.
Sources said the operation was conducted at about 0010hrs on April 20, following credible intelligence report on the movement of suspected terrorist logistics couriers.
Troops of 12 Brigade mounted a snap checkpoint at RA Oshokoshoko and intercepted a vehicle conveying the suspects en route Obajana from Makurdi.
A search of the vehicle led to the recovery of a sack containing 314 rounds of 7.62mm special ammunition and three AK-47 magazines, concealed behind the driver’s seat.
Other items recovered include two mobile phones, a driver’s licence, a National Identification Number (NIN) slip, and an identity card.
The suspects and recovered items are currently in military custody for further investigation and action.
Troops Arrest Suspected Terror Logistics Couriers in Kogi State
News
Stolen cows allegedly rustled by Berom militia from Plateau, sold by paramount ruler traced to Nasarawa
Stolen cows allegedly rustled by Berom militia from Plateau, sold by paramount ruler traced to Nasarawa
By: Zagazola Makama
Security operatives in Nasarawa State have intercepted stolen livestock allegedly rustled by Berom militia from Bokkos in Plateau State and sold through illicit channels, leading to the arrest of a suspect who claimed to have purchased the animals from a paramount ruler.
Police sources said the breakthrough followed credible intelligence received by the State Criminal Investigation Department (SCID) in Lafia on April 19 regarding suspicious cattle being traded at the Lafia cattle market.
Acting on the tip-off, detectives swiftly mobilised to the market and arrested one Alhaji Ziya-U Inusa, a resident of Dengi in Plateau State, who was found in possession of eleven cows suspected to have been stolen.
During interrogation, the suspect reportedly confessed that he purchased twelve cows from a paramount ruler in Plateau State (name withheld) but transported only eleven due to limited vehicle capacity.
Further investigation led to the emergence of one Abdullahi Adamu from Bokkos Local Government Area of Plateau State, who identified himself as the rightful owner of the recovered livestock.
Adamu explained that the cows were part of a larger herd of 57 cattle rustled in May 2025 by armed youths in Bokkos, adding that all previous efforts to recover the animals had been unsuccessful until the latest operation.
Security sources confirmed that the recovered cattle have been secured, while investigations are ongoing to unravel the network involved in the rustling and illicit sale of the livestock, including the alleged role of intermediaries and buyers.
The incident adds to a growing pattern of attacks against the livelihoods of pastoralist communities in Barkin Ladi, Bokkos, Mangu, and other parts of Plateau State.
Zagazola has consistently reported how Berom militia have engaged in livestock theft. In most cases, the victims (Fulani herders) are killed and buried in shallow graves, while in some instances, troops or police intercept the criminals and recover the stolen livestock.
The latest such incident occurred on April 16, when troops under Operation Enduring Peace responded to a rustling incident in Mangu Local Government Area, where suspected criminals fled before security forces arrived.
Similarly, on April 15, troops under Operation Enduring Peace (OPEP) recovered 48 rustled cattle in Yelwa village, Heipang District of Barkin Ladi Local Government Area of Plateau State. Sources said the recovery followed a distress call received at about 0635 hours reporting the rustling of cattle belonging to a resident of the community.
In another operation on April 13, troops foiled an attempted cattle rustling in Bassa Local Government Area, recovering 92 cattle after pursuing suspected youths who abandoned the animals while fleeing.
Zagazola reports that such incidents are among the main triggers of the cycle of reprisal attacks, further escalating tensions in affected communities.
Stolen cows allegedly rustled by Berom militia from Plateau, sold by paramount ruler traced to Nasarawa
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