NPC Constitutes Ad Hoc Committee to Restructure BOA

The National Council on Privatization (NCP), on Tuesday constituted an ad hoc committee to fast track the restructuring and resuscitation of the Bank of Agriculture (BOA) for better service delivery.

The committee was constituted at the maiden meeting of the council chaired by the Vice President Kashim Shettima,at the Presidential Villa, Abuja.

Shettima said the move was in line with the Renewed Hope Agenda of President Bola Tinubu’s administration.

The vice president emphasised the importance of the tasks before the new council, particularly the rejuvenation of BOA, among others.

” We have to make some far reaching decisions on the restructuring of the Bank of Agriculture because the bank will be critical to the realisation of the Renewed Hope Agenda of the Tinubu administration.

” It is very important for us and for this administration,” he said.

Shettima said that the Minister of Finance, Mr Wale Edun would Chair the committee.

He named members of the committee to include; the Minister of Agriculture and Food Security, Abubakar Kyari; Minister of Budget and Economic Planning, Atiku Bagudu and the Governor of the Central Bank of Nigeria (CBN), Dr Yemi Cardoso.

Others are the representatives of the Ministry of Finance Incorporated (MOFI); Chairmen of the NCP Technical and Legal Committees; a member of the NCP, Alhaji Mohammed Bintube, while the Director-General, Bureau of Public Enterprises will serve as Secretary.

Shettima urged the committee to come up with a road map for the resuscitation of bank, among other resolutions.

He also enjoined the members of the council to take every task seriously, saying, ” We will be meeting more frequently because we have to support the President to execute the Renewed Hope Agenda.”

The vice-president approved the completion of the concession of the 700MW Zungeru Hydroelectric Power Plant.

Shettima directed the opening of a dedicated account at the Debt Management Office for the payment of the concession fees by the concessionaire. Nigeria Eurobond Slumps after CBN Resumes OMO Auction

Similarly, he directed the CBN governor to commence the opening of the account at the DMO as proposed by the BPE.

The council ratified its constituted standing committees comprising the Technical, Stakeholder Engagement, Finance and Legal committees.