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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.
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NCP Mulls BOA-NIRSAL Merger, Injection Of Fresh Capital

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Bego shares Buni’s achievements as journalists take a tour in Yobe

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Bego shares Buni’s achievements as journalists take a tour in Yobe

By: Yahaya Wakili

Yobe State in Northeastern Nigeria is one of the states that suffered from the Boko Haram insurgency, but with the support and effort of the security agencies, things are improving a lot.

However, one of the effects of the insurgency was to destroy the local community; the people have suffered, their lives and their livelihoods were destroyed, and many have lost their loved ones.

The State Commissioner of the Ministry of Home Affairs, Information, and Culture, Hon. Abdullahi Bego, disclosed this to a team of journalists who embarked on a media tour organized by the Yobe State government across the state. The tour started with the Kannama modern market, the headquarters of the Yunusari local government area.0

Bego further said that. His Excellency Governor Mai Mala Buni thought that there is a need to rebuild communities to reinvigorate economic activities to ensure that people can go back to their farms and their markets to ensure that they can rebuild their lives.

“Governor Buni is providing a lot of support in terms of agriculture inputs, equipment, and fertilizer, among others, adding that when people finish from their farms, they will come to their market. That is why Governor Buni decided to establish such markets so that we have control where people can transact business.” He said.

Also briefing the journalists, the commissioner of Housing and Rural Development, Architect Ahmed Buba, said since the coming of Governor Buni on board, he has constructed 9 markets and completed five ultramodern markets across the state; these include 4 modern markets that were also constructed in Yunusari, Ngalda, Machina, and Buni Yadi.

He said Yunusari, a befitting market, comprises 96 shops, 146 open stalls, and 46 stalls, where there are houses, meat shops, an administration block, a police station, a fire service station, and a banking hall, and it will boost cross-border regional trade.

The team of journalists also visited the Machina modern market, the Gashu’a-Masaba road, and the 30-kilometer Bulanguwa-Kummagana road, and the Director of Civil Engineering, Alhaji Garba Umar, said the 30-kilometer Bulanguwa-Kummagana road will be completed in the next 10 days, inshallah.

Alhaji Garba Umar revealed that a contractor has completed clearance of one hundred percent of the space and literate base, and now the execution of asphalt for about 20 kilometers is only remaining 10 kilometers.

Malam Madu Ibrahim Yunusari has commended Governor Mai Mala Buni for constructing them a befitting modern market; these, he said, will boost their businesses as well as cross-border regional trade markets with their neighboring countries.

Bego shares Buni’s achievements as journalists take a tour in Yobe

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Police neutralise two bandits, recover arms in Kaduna

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Police neutralise two bandits, recover arms in Kaduna

By: Zagazola Makama

The Police Command in Kaduna State has neutralised two suspected armed bandits and recovered arms and ammunition during a security operation in Giwalga area of Bayan Kogi District.

Sources said the operation followed credible intelligence that a bandit syndicate, allegedly led by one Kachalla Sanusi Bajira, had mobilised its members to attack Idissu Village after the community failed to meet an imposed levy.

According to the sources, operatives of the Anti-Kidnapping Unit, in collaboration with local vigilantes from Idissu Village, were deployed to the area to forestall the attack.

The police said that upon sighting the operatives, the bandits laid an ambush and engaged the security team in a gun duel.

However, the combined team reportedly overpowered the bandits with superior firepower, leading to the neutralisation of two suspects, while others fled into surrounding bushes.

Two AK-47 rifles and five rounds of live ammunition were recovered from the scene during the operation.

The police said the surrounding areas had been cordoned off, while concerted efforts were ongoing to track down and arrest the fleeing suspects.

Investigation into the incident has commenced, the command added, as it reaffirmed its commitment to sustaining the fight against banditry and other criminal activities across the state,”said the sources.
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Advocacy Group Demands Proof of NBMA Chief’s Eligibility

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Advocacy Group Demands Proof of NBMA Chief’s Eligibility

By: Michael Mike

A civil society organisation, Citizens Advocacy for Social and Economic Rights (CASER), has formally requested access to the academic and professional records of Bello Bwari, director-general of the National Biosafety Management Agency (NBMA), raising questions about his eligibility to occupy the position.

The request was submitted under the Freedom of Information (FOI) Act to the Federal Ministry of Environment.

CASER said the move was prompted by concerns that the current head of the biosafety agency may not meet the qualifications required by law.

According to the group, the NBMA Act provides that the director-general of the agency must possess at least a master’s degree in biological sciences or a related field, while noting that Bwari is widely known to be a legal practitioner, a background the organisation argues may be inconsistent with the statutory requirements for the role.

In the FOI application, CASER called on the Minister of Environment, Balarabe Lawal, to confirm the director-general’s credentials and make the information available to the public. The organisation stressed that transparency in appointments is essential for maintaining confidence in regulatory institutions.

CASER further warned that failure to clarify the issue could weaken public trust in agencies responsible for biosafety, environmental protection, and biotechnology oversight.

The group added that the matter goes beyond one appointment and reflects broader concerns about compliance with enabling laws in public offices.

Founder of CASER and a human rights lawyer,!Frank Tietie, criticised what he described as the lack of response from professionals in the scientific community. In a recent opinion article, he argued that leadership of a biosafety agency without strong scientific grounding could undermine effective regulation.

Tietie said adherence to the law must be non-negotiable, warning that overlooking statutory provisions risks eroding accountability and institutional integrity.
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