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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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Ogwashi-Uku Palace Attack Trial: Gunshot Victim Identifies Mike Nwaukoni As Ringleader As Multiple Witnesses Place Defendants At Scene With Weapons

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Ogwashi-Uku Palace Attack Trial: Gunshot Victim Identifies Mike Nwaukoni As Ringleader As Multiple Witnesses Place Defendants At Scene With Weapons

Ogwashi-Uku Palace Attack Trial: Gunshot Victim Identifies Mike Nwaukoni As Ringleader As Multiple Witnesses Place Defendants At Scene With Weapons

Ogwashi-Uku Palace Attack Trial: Gunshot Victim Identifies Nwaukoni As Ringleader As Multiple Witnesses Place Defendants At Scene With Weapons

Fresh revelations emerged at the Federal High Court, Asaba, as the trial over the October 12, 2023 terrorist-style attack on the Palace of the Obi of Ogwashi-Uku resumed, with witnesses giving direct, consistent, and corroborated testimony identifying Mr Mike Nwaukoni as the principal actor who led an armed mob to the palace, resulting in gunfire, injuries, and destruction of property.

On Tuesday, January 13, the court heard the gripping testimony of PW2, Mr Lawrence Obasi, an Otulu vigilante who sustained gunshot injuries that left his right arm paralysed for months.

PW2 told the court that he was officially deployed alongside the police to protect the palace on the day of the attack, having undergone formal vigilante training by the police two years earlier. According to him, Mike Nwaukoni personally led a large mob armed with dangerous weapons to the palace gate at Ogbe-Nti.

He testified that despite clear warnings and instructions from the Divisional Police Officer and the police commander at the scene, the mob—acting on Nwaukoni’s direct encouragement—attempted to forcibly break into the palace.

“He told them to break the gate and said he had money to take care of anything that happened,” the witness told the court.

Moments later, gunshots rang out.
PW2 narrated how armed supporters opened fire, damaging police and vigilante vehicles and hitting him with live ammunition as he sought cover inside one of the vehicles. He positively identified Elue Adigwe and Francis Okolie as being present at the scene and fully armed.

His account directly corroborated the earlier testimony of PW1, the police commander who had testified last year that Mike Nwaukoni personally led the armed crowd, stressing that no police officer accompanied the mob and that it was not a lawful procession but an armed attack.

The police commander had also told the court that Nwaukoni had invited him and the DPO to his residence days before his testimony in what observers concluded was an attempt to obstruct justice by getting him to stop his testimony scheduled for the next week.

THIRD WITNESS CONFIRMS IDENTITIES, WEAPONS, AND HISTORY OF VIOLENCE
On Wednesday, PW3, Mr Emeka Nwaolisa, a palace vigilante, took the stand and reinforced the prosecution’s case, confirming the identity of the same defendants, their presence at the palace gate, and the use of offensive weapons during the attack.

PW3 testified that he was stationed at the locked palace gate when over 200 persons marched toward the palace, among them Mike Nwaukoni, Elue Adigwe, Francis Okolie, and others. He stated that on Nwaukoni’s orders, gunfire erupted as the mob attempted to force entry, leading to chaos and injuries.

During cross-examination, PW3 also revealed that Eugene Ojo Izediunor had previously boasted at a public drinking spot that he used money to “settle” his way out of an earlier case, a conversation witnessed by multiple persons.

He further told the court that the defendants had a long-standing history of orchestrated violence and unrest aimed at destabilising the community and undermining the traditional institution.

SPIN FAILS TO DENT CORE FACTS
While defence counsels consisting of four senior advocates attempted to divert attention to procedural arguments and minor inconsistencies, the central facts remained unshaken:
• Multiple eyewitnesses independently identified the same defendants
• Weapons were present and used
• Gunshots were fired
• A vigilante suffered gunshot injuries
• Vehicles were damaged
• The palace came under armed siege

The court admitted two statements made by PW3 as exhibits and adjourned the matter to April 21 and 22, 2026, with the trial set to continue.
The five defendants—Mike Nwaukoni, Elue Adigwe, Francis Okolie, Eugene Ojo Izediunor, and John Nwona—were all present in court.

As proceedings continue, the testimony so far paints a clear, consistent, and deeply troubling picture of a coordinated armed assault on a traditional institution, now firmly laid before the court under oath.

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Armed bandits kill man, abduct nine in macitta village, niger state

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Armed bandits kill man, abduct nine in macitta village, niger state

By: Zagazola Makama

Nine people were abducted and one man killed when armed bandits attacked Macitta village in Mariga Local Government Area (LGA) of Niger State late Wednesday night, sources confirmed.

Sources said that around 11:30 p.m., a large group of armed bandits entered the community via Kotonkoro District, shooting sporadically. One of the residents, Aliyu Dan Tsohon Soja, 35, was shot dead during the attack. The identities of the nine abducted victims are yet to be confirmed.

Security forces , local vigilantes, and hunters were mobilized to the area, and the body of the deceased was evacuated to the General Hospital, Bangi, for autopsy. Efforts are ongoing to track down the attackers and ensure the safe rescue of the kidnapped individuals.

Authorities have urged residents to remain alert and report any information that may assist in the rescue operations and apprehension of the bandits.

Armed bandits kill man, abduct nine in macitta village, niger state

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Three children die in bush fire while grazing cattle in Mokwa, Niger state

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Three children die in bush fire while grazing cattle in Mokwa, Niger state

By: Zagazola Makama

Three children lost their lives after being engulfed by fire while grazing cattle in Tungan-Noma village, Mokwa Local Government Area (LGA) of Niger State on Wednesday, sources confirmed.

According to sources, the children Huzairu (12), Aliru (11), and Kabiru Surajo (12) went out for cattle grazing around 12:30 p.m. and entered a deep gully in the bush.

They reportedly set dried grasses on fire in an attempt to trap small bush animals. Unfortunately, the flames spread rapidly, trapping the children and preventing their escape.

The lifeless bodies were recovered and evacuated to the General Hospital, Mokwa, for autopsy. Authorities visited the scene to assess the circumstances surrounding the tragedy.

The incident draw attention to the dangers children face in rural areas, particularly when engaging in outdoor activities without supervision.

Parents have been urged to exercise caution and ensure children’s safety during such activities.

Three children die in bush fire while grazing cattle in Mokwa, Niger state

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