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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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UNIFEMGA Urges Positive Mindset, National Unity as Key to Nigeria’s Growth

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UNIFEMGA Urges Positive Mindset, National Unity as Key to Nigeria’s Growth

By: Michael Mike

Members of the Obafemi Awolowo University Muslim Graduates’ Association (UNIFEMGA) have called on Nigerians to embrace positive thinking, patriotism and collective responsibility as essential ingredients for national transformation and sustainable development.

The association made the call in a communiqué issued at the end of its 2026 Annual National Re-union held at Obafemi Awolowo University, Ile-Ife, Osun State, between May 8 and May 10.

The conference, themed “The Potential Within Nigeria: Positive Mindset and Communication for Success,” brought together Muslim professionals, academics, business leaders and alumni from across the country to deliberate on issues affecting national development, education, governance and economic growth.

The communiqué, signed by the National President of the association, Mohamed Buari, and the National Secretary, Sefiu Ikudaisi, stressed that Nigeria possesses abundant human and material resources capable of transforming the country into a global economic and political force if citizens adopt the right mindset and attitudes.

According to the association, negative narratives, disunity and poor value orientation have continued to undermine the country’s enormous potential.

It noted that Islam encourages development, innovation and the pursuit of knowledge capable of improving the quality of life, provided such advancements remain within the ethical boundaries prescribed by the religion.

The conference commenced with a special Jumat service at the OAU Central Mosque of Unity and a courtesy visit to the Vice-Chancellor of the university, Adebayo Simeon Bamire, and other principal officers of the institution.

During the visit, discussions centred on issues of mutual interest, with the university management reportedly commending the association for its contributions to the growth and development of the institution.

A major highlight of the reunion was the presentation of scholarships worth N14.6 million to 140 students of the university as part of the association’s welfare and educational support programme.

UNIFEMGA disclosed that since the introduction of the scholarship initiative in the 2009/2010 academic session, it has disbursed over N103.4 million to 1,148 students of the institution.

The association also launched a N200 million endowment fund targeted at supporting widows and orphans of members under its welfare scheme.

The event featured a networking dinner sponsored by the Chairman of the Board of Trustees of the association, Rafiu Ebiti, focusing on value-driven entrepreneurship and investment opportunities.

The reunion lecture was delivered by the Director-General of the National Orientation Agency, Lanre Issa-Onilu, while the Managing Director and Chief Executive Officer of Matrix Energy Group, Abdulkabir Adisa Aliu, chaired the occasion.

Also in attendance were representatives of the Osun State Government, including Governor Ademola Adeleke, represented by his Senior Special Assistant on Religious Affairs, Bello Adeniyi, as well as the Pro-Chancellor of the university, Adejare Bello.

The association expressed concern over the growing challenges confronting tertiary education in Nigeria, including brain drain, obsolete learning equipment, unstable academic calendars and outdated curricula.

It urged the government to urgently address the problems and transform the current “japa” trend into an opportunity for “brain gain” capable of enhancing national productivity and innovation.

UNIFEMGA further called for stronger collaboration between universities and the private sector to ensure sustainable research, innovation and technological advancement.

On the economy, the association urged governments at all levels to create an enabling business environment through improved electricity supply, infrastructure development and investment in human capital.

It also stressed the need to tackle unemployment, warning that many jobless youths are vulnerable to manipulation by individuals promoting violence and instability.

The association said that a positive national mindset remains the foundation for building a prosperous and united Nigeria, urging citizens to embrace values that promote peace, productivity, discipline and national cohesion.

UNIFEMGA Urges Positive Mindset, National Unity as Key to Nigeria’s Growth

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NSITF Restoring Hope to Injured Nigerian Workers Through Compensation Scheme — Faleye

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NSITF Restoring Hope to Injured Nigerian Workers Through Compensation Scheme — Faleye

By: Michael Mike

The Nigeria Social Insurance Trust Fund (NSITF) has intensified efforts to restore dignity, confidence and economic relevance to Nigerian workers injured in the line of duty through its Employees’ Compensation Scheme (ECS), with the Managing Director and Chief Executive Officer of the Fund, Oluwaseun Faleye, declaring that no worker should be abandoned after suffering workplace accidents.

Faleye made the declaration in Abuja during the presentation of prosthetic limbs to 10 beneficiaries under the Fund’s rehabilitation and reintegration programme, describing the intervention as a practical demonstration of government’s commitment to social protection and workers’ welfare.

Represented by the General Manager, Claims and Compensation, Mrs. Nkiru Ogunnike, the NSITF boss said the scheme has continued to serve as a lifeline for workers whose lives were disrupted by industrial accidents, occupational diseases and other work-related hazards.

He stressed that the Employees’ Compensation Scheme was not designed merely to pay compensation, but to restore injured workers physically, emotionally and psychologically so they could reintegrate into society with renewed confidence.

According to him, many workplace accidents leave victims permanently altered, with some battling emotional trauma, social stigma and uncertainty about their future livelihoods.

“For many Nigerian workers, a single workplace incident can permanently alter the course of their lives. Through the intervention of the NSITF as administrators of the ECS, affected workers are given a second chance to rebuild their lives and regain independence,” he said.

Faleye cited the case of Daniel Etim, a staff member of the University of Uyo Printing Press, whose arm was amputated after it became trapped in an industrial machine during routine work in May 2024.

He explained that the NSITF not only covered Daniel’s medical expenses under the Employees’ Compensation Scheme but also provided him with a prosthetic arm to aid his rehabilitation and restore his functionality.

“Beyond the payment of medical bills, the Fund extended further rehabilitative support by providing him with a prosthetic arm, reaffirming its commitment not only to compensation but also to restoring dignity, confidence and functionality to injured workers,” he stated.

Faleye also recounted the experience of Festus Okpara, an employee of Tower Aluminium Laos, who lost his hand in a workplace accident in 2015 and endured years of emotional distress and social discomfort.

According to him, the provision of a silicone prosthetic hand by the NSITF has helped Okpara regain confidence and interact freely in public once again.

“Beyond the trauma of the accident itself was the constant public attention, the quizzical looks and the pitying stares that made social interactions difficult. The intervention of the NSITF has helped restore his sense of inclusion and self-worth,” he added.

One of the beneficiaries, Festus Okpara, expressed appreciation to the Fund for what he described as life-changing support.

“I thank NSITF for coming all this way to help. At least with this, I can go out in public and feel free. NSITF has reduced the level of trauma,” he said.

The latest intervention is part of the ongoing rehabilitation and reintegration programme of the NSITF, under which 78 beneficiaries have recently been fitted with artificial limbs.

The Employees’ Compensation Scheme was established under the Employees’ Compensation Act of 2010 to provide compensation for workers who suffer injuries, disabilities, diseases or death arising from workplace activities.

The scheme, funded through employer contributions, was introduced to replace the defunct Workmen’s Compensation Act and broaden social protection for Nigerian workers in both the public and private sectors.

Over the years, labour stakeholders have repeatedly raised concerns over poor workplace safety standards in several sectors of the economy, especially manufacturing, construction and heavy industry, where industrial accidents remain prevalent.

Analysts say the increasing intervention of the NSITF in rehabilitation and compensation is gradually strengthening confidence in Nigeria’s social insurance system and drawing attention to the need for stricter enforcement of occupational safety measures across workplaces.

For many beneficiaries, however, the interventions represent something deeper than compensation — a restoration of hope after tragedy.

NSITF Restoring Hope to Injured Nigerian Workers Through Compensation Scheme — Faleye

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Troops eliminates several ISWAP Attackers in failed attempt on Gonori, Recover Weapons in Borno

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Troops eliminates several ISWAP Attackers in failed attempt on Gonori, Recover Weapons in Borno

By: Zagazola Makama

Troops of Operation Hadin Kai (OPHK) have repelled a late-night attack by suspected ISWAP terrorists on the Forward Operating Base of the 120 Task Force Battalion in Gonori, Borno State.

Military authorities said the failed attack occurred between late Saturday, May 9, and the early hours of Sunday, May 10, 2026, under Sector 2 of the North-East counter-insurgency operation.

The terrorists were said to have advanced toward the location from the Mandunari axis at about midnight but were detected early by troops on ambush positions.

Security sources disclosed that troops immediately launched a coordinated spoiling attack, forcing the insurgents into a heavy exchange of fire before air support from the Air Component of Operation Hadin Kai and the Nigerian Army Aviation joined the operation.

The combined air-land assault reportedly inflicted heavy casualties on the fleeing terrorists, while troops successfully defended the camp without any breach or loss of equipment.

Exploitation of the general area after the encounter reportedly revealed blood trails, body parts and several terrorist corpses within the vicinity, indicating significant casualties among the attackers.

Troops also recovered one General Purpose Machine Gun (GPMG), two PKT machine guns, five AK-47 rifles, belts of assorted ammunition and other items abandoned by the insurgents.

Military authorities confirmed that some soldiers sustained injuries during the encounter but were stable and receiving medical attention.

They added that exploitation and pursuit operations were ongoing to track fleeing terrorists and consolidate gains recorded during the operation.

The military said the latest failed attack further demonstrated the operational readiness of troops and the continued pressure being mounted against terrorist groups across the North-East theatre.

Troops eliminates several ISWAP Attackers in failed attempt on Gonori, Recover Weapons in Borno

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