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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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Police exhume seven bodies over Yelwata killings, as part of the Presidential Medical Delegation Investigation in Benue

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Police exhume seven bodies over Yelwata killings, as part of the Presidential Medical Delegation Investigation in Benue

By: Zagazola Makama

The Police in Benue have exhumed seven in connection with the 2025 Yelwata killings as part of ongoing investigations by the Presidential Medical Delegation as part of efforts to ensure justice for victims of what he described as a brutal assault.

Zagazola learnt that the exhumation was carried out on Feb. 24 by federal investigators led by the Intelligence Response Team (IRT) following an earlier situation report on the exercise.

According to the sources, the bodies were exhumed for inquest, adding that the exercise would continue at a later date.

“Seven corpses have been exhumed by the IRT-led federal investigators for inquest. The exercise will continue, and further development will be communicated,” police sources said.

Forensic pathologists from the Federal Ministry of Justice have arrived in Benue State to investigate the June 13, 2025, attack on Yelwata, a community in the Guma Local Government Area of the state.

The Presidential Medical Delegation on Monday visited Yelwata in Guma Local Government Area to inspect graves of victims of the June 2025 attack on the community.

Security sources said the delegation visited the burial site where victims of the attack were interred, and the graves were identified as part of ongoing investigative and medical review processes.

The deployment follows proceedings at the Federal High Court in Abuja, where nine suspects were arraigned on 2 February 2026 before Justice Joyce Abdulmalik in connection with the Yelwata attack.

The court stressed the importance of forensic evidence to ensure a fair trial and proper determination of culpability.

The sources added that adequate security measures were put in place to ensure a peaceful and hitch-free exercise.

The Guma Local government Yelwata attack of June 13, 2025, resulted in the deaths of several residents and forced many others to flee their homes.

Police exhume seven bodies over Yelwata killings, as part of the Presidential Medical Delegation Investigation in Benue

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Farmer Killed in Yobe Over Land Dispute, Pastoralists Injured

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Farmer Killed in Yobe Over Land Dispute, Pastoralists Injured

By: Zagazola Makama

A farmer, Moh’d Abdullahi, 50, of Garin Mallam Village, Karasuwa LGA, has been killed after being shot with arrows during an altercation with pastoralists on his farmland on Monday.

Sources said the suspects, identified as Usmanu Alh. Musa, Buba Alh. Manu, and Ahmadu Inusa, all from Tarja Fulani Settlement in Jakusko LGA, allegedly trespassed onto Abdullahi’s farmland. When the farmer cautioned them, the suspects attacked him, leaving him with fatal injuries.

In the ensuing retaliation, some villagers assaulted Ahmadu Inusa, who sustained injuries to various parts of his body. Both victims were rushed to Specialist Hospital Gashua in Bade LGA, where Abdullahi was certified dead, while Inusa received medical attention and remains hospitalized.

The body of Abdullahi was released to his family for burial according to Islamic rites. Investigations into the incident and the circumstances surrounding the dispute are ongoing.

Farmer Killed in Yobe Over Land Dispute, Pastoralists Injured

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Nigeria’s Support Against US Blockade Vital, Says Cuban Ambassador

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Nigeria’s Support Against US Blockade Vital, Says Cuban Ambassador

By: Michael Mike

The Cuban Ambassador to Nigeria, Miriam Morales Palmero, has commended Nigeria and the African Union for their consistent opposition to the decades-long United States economic blockade against Cuba, describing the sanctions regime as an “unjust system of coercion” that has inflicted prolonged hardship on the Cuban people.

Speaking at the Conference of the Solidarity Movement with Cuba in Nigeria, Palmero expressed gratitude for Nigeria’s repeated votes at the United Nations General Assembly in favour of resolutions calling for an end to the US embargo.

“Nigeria is one of the countries which has voted at the United Nations General Assembly in favour of the resolution against the economic, commercial and financial blockade,” she said. “We highly value Nigeria’s support.”

She also acknowledged what she described as the historic stance of the African Union, particularly its recent resolution condemning the US blockade policy and Cuba’s inclusion on the list of state sponsors of terrorism.

The ambassador characterised the US embargo as more than a bilateral dispute, calling it “a deliberate policy of asphyxiation” designed to force political surrender through economic deprivation.

“For more than six decades, Cuba has faced one of the most prolonged and unjust systems of economic, commercial and financial coercion in contemporary history,” she said.

Palmero criticised a recent executive order signed by US President Donald Trump which, she said, threatens sanctions against countries that supply fuel to Cuba. She described the move as extraterritorial and a violation of international law.

According to her, the measures are intended to worsen shortages in energy, nutrition, healthcare, education and transportation, while exerting pressure on other nations to limit cooperation with Cuba.

“We do not accept threats. We do not accept blackmail. We do not accept interference,” she declared.

Despite economic difficulties, the ambassador maintained that Cuba has consistently extended assistance to other nations, particularly in healthcare and education.

She highlighted Cuba’s long-standing medical diplomacy, noting that Cuban doctors, teachers and technical experts have served in dozens of countries, including Nigeria.

“Cuba represents no threat whatsoever to any country,” Palmero said. “Our foreign policy is one of solidarity, peace, friendship and cooperation, fully committed to international law and the United Nations Charter.”

She described it as “inconceivable” that the world’s largest economic and military power would consider Cuba a threat.

Beyond condemning the blockade, the ambassador used the conference to call for a stronger and more structured Solidarity Movement with Cuba in Nigeria.

She urged trade unions, academic institutions, youth groups, community organisations and media platforms to amplify advocacy efforts in support of Cuba, especially as sanctions intensify.

“This meeting is not only an expression of political and moral support,” she said. “It is a strategic moment to strengthen the structure of the Solidarity Movement with Cuba in Nigeria.”

Palmero encouraged participants to develop a coordinated action plan that would increase mobilisation, communication and public engagement throughout the year.

The ambassador reaffirmed Cuba’s commitment to sovereignty and its chosen social model, insisting that the country would not bow to external pressure.

“We know that the Cuban people are not alone,” she said. “Cuba will never renounce its independence.”

She declared that: “Because justice cannot be blockaded. Because dignity cannot be sentenced. Because solidarity is stronger than any coercive measure.”

The conference brought together members of Nigeria’s solidarity movement, trade union representatives, Cuban-trained graduates and supporters of Cuba–Nigeria relations, underscoring the longstanding diplomatic ties between both nations.

Nigeria’s Support Against US Blockade Vital, Says Cuban Ambassador

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