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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
SOJA Condemns Alleged Abduction of Teachers, Students in Oyo, Demands Urgent Rescue Efforts
SOJA Condemns Alleged Abduction of Teachers, Students in Oyo, Demands Urgent Rescue Efforts
By: Michael Mike
A human rights organisation, Speak Out for Justice Advocacy Ltd./Gte. (SOJA), has condemned the reported abduction of teachers and students in Oriire Local Government Area of Oyo State, describing the incident and the alleged killing of a teacher, Mr. Michael Oyedokun, as “a case too many.”
In a statement issued on Thursday, the group expressed deep concern over reports that armed attackers abducted teachers and students from schools within the council area around May 15, 2026, while Mr. Oyedokun, a Mathematics teacher at Community High School, Ahoro-Esiele, was reportedly killed during the incident.
The organisation said several victims were still believed to be in captivity awaiting rescue.
SOJA, led by its Founder and Executive Director, Hameed Ajibola Jimoh, commiserated with the affected families and communities, warning that repeated attacks on schools and civilians across parts of the country were becoming alarming.
According to the advocacy group, the incident, if confirmed, raises serious constitutional and human rights concerns under both Nigerian law and international treaties to which Nigeria is a signatory.
Citing Section 14(2)(b) of the 1999 Constitution, SOJA stressed that “the security and welfare of the people shall be the primary purpose of government,” while Sections 33, 34 and 35 guarantee the rights to life, dignity and personal liberty.
The group also referenced Nigeria’s obligations under several international and regional legal frameworks, including the United Nations-backed International Covenant on Civil and Political Rights (ICCPR), the Convention on the Rights of the Child (CRC), the African Charter on Human and Peoples’ Rights (ACHPR), and the African Charter on the Rights and Welfare of the Child (ACRWC).
SOJA argued that the obligations imposed by these instruments go beyond symbolic commitments, requiring authorities to take practical and preventive steps to protect lives, especially those of vulnerable groups such as school children and teachers.
“The implication of these obligations in the present circumstances is that government responsibility extends beyond merely reacting after tragic events occur,” the statement said.
The organisation acknowledged reports that security agencies had intensified rescue operations and investigations, but maintained that recurring attacks on schools demanded more decisive and proactive measures.
“This is a case too many,” the statement added.
SOJA therefore called for the immediate intensification of lawful rescue efforts for those still in captivity, a thorough investigation into the incident, prosecution of perpetrators, strengthened security around schools and vulnerable communities, and adequate support for affected victims and families.
The group further urged the government to undertake a comprehensive review of strategies aimed at preventing future attacks on educational institutions.
“Teachers should not become targets. Schools should not become zones of fear. Children should not bear the burden of insecurity,” the organisation stated.
SOJA Condemns Alleged Abduction of Teachers, Students in Oyo, Demands Urgent Rescue Efforts
News
Troops recover suspected stolen motorcycle in Plateau
Troops recover suspected stolen motorcycle in Plateau
By: Zagazola Makama
Troops of Sector 6, Operation Enduring Peace have recovered a suspected stolen motorcycle following a pursuit of suspected motorcycle snatchers in Riyom Local Government Area of Plateau.
Security sources disclosed that the incident occurred at about 6:30 p.m. on May 21 along the Bachi-Banghai road after troops received reports on the activities of suspected motorcycle snatchers in the area.
The sources said the troops immediately mobilised and pursued the suspects, who abandoned the motorcycle and fled upon sighting the security personnel.
According to the sources, the recovered motorcycle has been secured, while efforts were ongoing to identify the rightful owner and apprehend the fleeing suspects.
The military said the operation formed part of sustained efforts to combat criminal activities and enhance security across Plateau.
Troops recover suspected stolen motorcycle in Plateau
News
Troops launch rescue operation after abduction in Plateau
Troops launch rescue operation after abduction in Plateau
By: Zagazola Makama
Troops of Sector 1, Operation Enduring Peace have launched a rescue operation following the abduction of a resident in Bassa Local Government Area of Plateau.
Security sources disclosed that the incident occurred at about 11:00 p.m. on May 21 when gunmen reportedly abducted Mr Eze Emeka from his residence at Agingi village.
The sources said troops swiftly responded to the distress report and commenced rescue operations in collaboration with other security agencies.
According to the sources, efforts were ongoing to track down the kidnappers and secure the safe release of the victim.
The military assured residents that security forces were intensifying operations to curb criminal activities in the area.
Troops launch rescue operation after abduction in Plateau
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