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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
PRESIDENT TINUBU MOURNS VICTIMS OF TERRORIST ATTACK IN NGOSHE, GWOZA LGA IN BORNO STATE
PRESIDENT TINUBU MOURNS VICTIMS OF TERRORIST ATTACK IN NGOSHE, GWOZA LGA IN BORNO STATE
By: Our Reporter
President Bola Tinubu has expressed heartfelt condolences to the families of those affected by the recent terrorist attack by Boko Haram on the Ngoshe community in Gwoza Local Government Area of Borno State.
The President mourns the loss of innocent lives, including military personnel, and those caught in friendly fire during the aerial interdiction of fleeing terrorists by the Air Force.
He describes the attack by the terrorists as a heartless assault on hapless citizens, urging Nigerians in Borno and elsewhere not to succumb to fear.
President Tinubu commends the military for their swift response, which led to the killing of scores of terrorists and their subsequent forced retreat.
He charges the military and other security agencies to work urgently to rescue those kidnapped by the terrorists.
Additionally, he directs the armed forces to intensify their efforts to protect civilians nationwide and prevent attacks on military installations in the North East.
President Tinubu prays for the souls of those who lost their lives in the attacks and friendly fire and extends his sympathies to their families and the Borno State Government.
PRESIDENT TINUBU MOURNS VICTIMS OF TERRORIST ATTACK IN NGOSHE, GWOZA LGA IN BORNO STATE
News
Borno State Command Celebrates 2026 World International Civil Defence Day in Grand Style
Borno State Command Celebrates 2026 World International Civil Defence Day in Grand Style
By: Bodunrin Kayode
The Borno State Command of the Nigeria Security and Civil Defence Corps (NSCDC) recently marked the 2026 World International Civil Defence Day with a weeklong series of activities, themed “Towards a safer society.”
A statement by the command’s spokesperson CSC Bulus James, stated that the celebration began with briefings and sensitization of staff on NSCDC’s critical roles in Crisis Management, Protection of Critical National Assets and Infrastructure, Peace and Conflict Resolution, Counter-terrorism, and VIP Protection.

On Thursday, 26th February 2026, officers and men, led by Acting Commandant DCC Obe Ndubuisi, embarked on a road match from the State Headquarters through the Kano Motor Park community and concluded at the headquarters, where the Acting Commandant delivered speeches on behalf of Commandant CC Ahmed Bello Gaya, including messages from the Commandant General and the State Commandant.
On the 27th February, 2026, Muslim faithfuls gathered at Al-Ansar Masjid for Jumaat prayers, with ACG CBRNE Hameed Abudurin from NHQ Abuja in attendance as Special Guest of Honour.

He was also present at the Passing Out Parade (POP) of a joint special training program held at the Nigerian Police Force Explosive Ordnance Disposal and Chemical, Biological, Radiological, Nuclear (EOD-CBRN) Training School, Maiduguri, in collaboration with UNMAS which offered him the opportunity to celebrate alongside the Muslim faithfuls.
Prayers were offered by the Chief Imam Borno State, and NSCDC. Worshippers expressed gratitude for NSCDC’s unwavering commitment to safeguarding lives, property, and critical national assets.

This was followed by the grand finale at the NSCDC Glorious Chapel which held a special Sunday service at the Command’s multipurpose hall, attended by guests from sister security agencies on 1st March, 2026
Goodwill messages were delivered, followed by a keynote address from Commandant CC Ahmed Bello Gaya, delivered by Acting Commandant Obe Ndubuisi.

.DCC Paul Ochola delivered an exhortation on “Selfless Service to Humanity: Towards a Safer Environment.” The service concluded with pleasantries and a group photograph.
Borno State Command Celebrates 2026 World International Civil Defence Day in Grand Style
News
Zulum Pays Sympathy Visit to Victims of Ngoshe Attack, Assures Rescue of Abducted Residents
Zulum Pays Sympathy Visit to Victims of Ngoshe Attack, Assures Rescue of Abducted Residents
By: Our Reporter
Borno State Governor, Professor Babagana Umara Zulum, has commiserated with the people of Ngoshe affected by the recent Boko Haram attack, describing the incident as tragic.
Ngoshe, a community in Gwoza local government, was attacked on Tuesday evening, scores were killed, while others were abducted.

Addressing members of the community on Friday in Pulka, Governor Zulum said he personally came to sympathize with the affected people and families of those that lost their loved ones.
He assured that efforts are underway to rescue all those abducted, restore security, and provide humanitarian support to victims.

“We are here today to commiserate with the people of Ngoshe that have lost their loved ones following the unfortunate incident that occurred on Tuesday. The situation is very sad and our hearts go out to all those affected by this tragedy,” Zulum said.
“I want to assure you that we will do everything possible to address the unfortunate situation that has befallen this community, and for those who have been abducted, the Nigerian military will do everything within its capacity to rescue them,” Zulum assured.

Governor Zulum explained that military operations are currently ongoing in Ngoshe and the Sambisa Forest to rid the area of criminal elements.
“There are ongoing military operations within the Sambisa Game Reserve. What we witnessed yesterday was largely a result of insurgents being pushed out from their strongholds, which led them to launch coordinated attacks on nearby communities,” he explained.
He called on the Nigerian Army to intensify operations to clear insurgents from the Mandara Hills which he described as a major security threat.
“The Mandara Hills remain a major security concern. The insurgents descended from the hills to attack this town. Therefore, I call on the Nigerian Army and the Federal Government to intensify efforts to clear Mandara Hills of insurgents,” Zulum said.

The governor noted that the exact number of casualties is yet to be confirmed as assessments are still ongoing, but acknowledged that several lives were lost while others were abducted.
As part of immediate humanitarian intervention, the governor said the state government had begun distributing relief materials and establishing cooking points to provide food for displaced residents.
“For now, we will distribute food items to those affected and I have directed that cooking points be established so that everyone in this community can receive meals from a central kitchen,” he said.
The governor appealed to residents to remain calm and law-abiding, noting that Borno State government will double its efforts to end this madness. “We shall not relent in our commitment to restoring lasting peace and stability in the state,” he said.
“I strongly believe that with sustained military operations and cooperation between all levels of government, we will overcome this challenge. Insha Allah, peace will return fully to our land,” the governor added.
Similarly, Governor Babagana Zulum inspected houses burned during an attack by Boko Haram insurgents on Thursday in Konduga town.
Zulum Pays Sympathy Visit to Victims of Ngoshe Attack, Assures Rescue of Abducted Residents
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