FG inaugurates committee on BoA restructuring, recapitalisation

The Federal Government has inaugurated a 21-man steering committee for restructuring and recapitalisation of the Bank of Agriculture, BoA, in line with the diversification policy of the Muhammadu Buhari-led administration.

Vanguard reports that the steering committee which was inaugurated by the Vice President, Prof. Yemi Osinbajo, and Chairman of National Council on Privatisation, NCP, include Minister of Agriculture and Rural Development, Chief Audu Ogbeh, as Chairman, while other members are Ministers of Finance, Industry and Trade and Investment, National Planning; Governor of Central Bank of Nigeria, CBN; Director-General, Bureau of Public Enterprises, BPE; Chief Economic Adviser to the President; Special Adviser on Economics to the President; representative of Ministry of Justice, representative of Nigeria Labour Congress, and others. Osinbajo, who was represented by the Minister of Agriculture and Rural Development, Chief Ogbeh, said the recapitalisation will

According to Vanguard, Osinbajo, who was represented by the Minister of Agriculture and Rural Development, Chief Ogbeh, said the recapitalisation will revitalise the operations of the ‘farmers’ bank’ in order to deliver more service to farmers, agro-allied industries and cooperatives by giving them affordable loan facilities for better performance and productivity.

He said: “The essence of the Federal Government’s decision to embark on this strategic step in the BoA, include approval of the proposed restructuring and recapitalisation strategy to revitalise the operations of the bank.”

Source: Vanguard