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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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Troops Raid Terrorist Enclaves in Katsina, Criminals Flee Before Contact

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Troops Raid Terrorist Enclaves in Katsina, Criminals Flee Before Contact

By: Zagazola Makama

Troops of 17 Brigade, in collaboration with local vigilantes, have conducted coordinated offensive operations on suspected terrorist enclaves across parts of Katsina State, forcing criminals to flee before troops’ arrival.

Security sources told Zagazola that the operation took place at about 0800 hours on May 10, 2026, targeting Kafin-Soli, Karaduwa, Maraban Musawa and Jikamshi villages in Kankia, Musawa and Matazu Local Government Areas of the state.

The sources said the clearance operation was part of ongoing efforts to dislodge criminal elements and deny them freedom of action within rural communities.

According to the sources, troops and vigilantes moved simultaneously into the identified locations but met no resistance as the suspected terrorists had fled prior to their arrival.

Military authorities said follow-up exploitation of the general area was ongoing to ensure the criminals do not regroup or return to the affected communities.

They added that troops will continue intelligence-led patrols and offensive operations across vulnerable areas in Katsina State to sustain pressure on criminal networks and restore normalcy.

Troops Raid Terrorist Enclaves in Katsina, Criminals Flee Before Contact

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Troops Ambush Terrorists in Kogi State, Neutralise One, Recover Arms and Cash

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Troops Ambush Terrorists in Kogi State, Neutralise One, Recover Arms and Cash

By: Zagazola Makama

Troops of 12 Brigade have successfully ambushed suspected terrorists along the Old Obajana–Jakura–Tajimi axis in Lokoja Local Government Area of Kogi State, neutralising one insurgent and recovering weapons, ammunition and other items.

Security sources said that the operation occurred at about 0450 hours on May 10, 2026, west of Meyanga and north of Adankolo Forest during a planned ambush operation.

The sources said troops made contact with the terrorists in the early hours of the day, leading to a brief exchange of fire.

According to the sources, one terrorist was neutralised during the engagement, while others fled the scene, abandoning their weapons and equipment.

Items recovered at the scene included two AK-47 rifles, six magazines loaded with 145 rounds of 7.62mm special ammunition, one locally fabricated pistol, one Motorola handheld radio, one motorcycle, and a sum of ₦62,900.

Other recovered items included a camouflaged bandolier, three mobile phones and additional sundry materials.

Military authorities said troops have continued exploitation of the general area to track fleeing suspects and prevent regrouping of criminal elements.

They added that operations in the axis remain ongoing as part of sustained efforts to dominate the environment and deny terrorists freedom of action.

Troops Ambush Terrorists in Kogi State, Neutralise One, Recover Arms and Cash

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Funding of Politics with State Funds: ActionAid Demands Impeachment of Governors Found Culpable

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Funding of Politics with State Funds: ActionAid Demands Impeachment of Governors Found Culpable

By: Michael Mike

Human rights and anti-poverty organisation, ActionAid Nigeria, has called for the immediate impeachment of any governor found guilty of using state resources to fund political campaigns ahead of the 2027 general elections.

The organisation made the demand in a statement issued on Tuesday in Abuja by its Country Director, Andrew Mamedu, following growing public concerns over alleged movement of huge sums of money by some political actors for campaign-related activities.

ActionAid Nigeria said the allegations have raised serious questions about the source of the funds allegedly being deployed for political mobilisation and consolidation of power ahead of the next election cycle.

Mamedu described the reports as disturbing and unacceptable, especially at a period when millions of Nigerians are grappling with economic hardship, rising inflation, insecurity, unemployment and worsening living conditions.

According to him, it would amount to a grave abuse of public trust if state resources meant for governance and development were diverted for partisan political purposes.

“It is appalling that at a time when Nigeria is drowning in debt, workers are struggling with the rising cost of living, public hospitals are underfunded, schools are collapsing, insecurity is spreading, and millions of Nigerians are battling hunger and extreme economic hardship, that any suggestion of public resources are being diverted or deployed for political campaigns,” he stated.

The organisation stressed that governors were elected to serve the people and not to convert state resources into what it described as “political war chests.”

ActionAid Nigeria challenged governors and political actors allegedly linked to the claims to publicly explain the source of the funds being used for political activities, insisting that Nigerians deserve transparency and accountability.

The group further urged anti-corruption agencies, including the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission, as well as State Houses of Assembly, to commence immediate investigations into the allegations.

According to the organisation, any governor found culpable should face impeachment, prosecution and recovery of diverted public funds.

“Any governor who diverts public resources for political campaigns has violated public trust and abused the mandate given to them by citizens. Such individuals should not remain in office,” Mamedu said.

He warned that unchecked misuse of public resources could weaken democratic institutions and create an unfair political environment where incumbents enjoy undue advantage over other contestants.

The organisation also noted that while political parties have the right to organise campaigns and raise lawful support, such activities must not involve public funds, government assets or state institutions.

ActionAid Nigeria cited countries such as the United Kingdom, United States, Canada, Germany and South Africa as examples where strict accountability measures exist to prevent incumbents from using state resources for partisan political activities.

The organisation called on citizens, civil society groups, journalists, whistleblowers and anti-corruption advocates to remain vigilant and expose any suspicious use of public resources for political purposes ahead of the 2027 elections.

ActionAid Nigeria maintained that safeguarding democracy and protecting public resources must remain a collective responsibility of both institutions and citizens.

Funding of Politics with State Funds: ActionAid Demands Impeachment of Governors Found Culpable

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