The National Council on Privatization (NCP) stated on Wednesday that consideration is ongoing in order to merge the Bank of Agriculture with the Central Bank of Nigeria\u2019s NIRSAL Microfinance Ltd.<\/p>\n
NCP also said that it has plans to inject new capital into the institutions to make it better following the merger. These were among the recommendations from NCP\u2019s Committee on BOA, which were revealed during a council meeting at the Presidential Villa in Abuja.<\/p>\n
The meeting which was chaired by the country\u2019s Vice President Kashim Shettima, emphasized the President\u2019s dedication to restructuring and improving the Bank of Agriculture to advance the administration\u2019s food security agenda.<\/p>\n
The country\u2019s vice president stated:<\/p>\n
\u201c<\/em>Let\u2019s get very sound professionals with integrity to manage the bank.\u201d<\/p>\n \u201cIf we use it well, it\u2019s going to be a tool for the transformation of our economy because agriculture is the key.\u201d<\/p>\n The Minister of Finance and coordinating minister of the economy, Mr. Wale Edun during the presentation of the committee\u2019s report, Mr. Wale Edun, detailed that the council\u2019s decision was based on the identified challenges and the recent need to address the issues facing the bank.<\/p>\n Edun, who also the Vice-Chairman of the NCP, highlighted key recommendations, which includes the immediate reconstitution of the Bank\u2019s Board of Directors to improve corporate governance.<\/p>\n \u201c<\/em>C<\/em>ede National Agricultural Land Development Authority (NALDA) land titles to BOA so that it would reflect in its Balance Sheet.\u201d<\/em><\/p>\n \u201cThis will increase the capital adequacy for the purpose of raising funds from institutional investors,\u201d<\/em> Mr Edun stated.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" The National Council on Privatization (NCP) stated on Wednesday that consideration is ongoing in order to merge the Bank of Agriculture with the Central Bank of Nigeria\u2019s NIRSAL Microfinance Ltd. NCP also said that it has plans to inject new capital into the institutions to make it better following the merger. These were among the […]<\/p>\n","protected":false},"author":27,"featured_media":28990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-28988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/28988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=28988"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/28988\/revisions"}],"predecessor-version":[{"id":28994,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/28988\/revisions\/28994"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/28990"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=28988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=28988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=28988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}