Nigeria and Recapitalisation

Image result for The federal government of Nigeria says it will finalise the recapitalisation of the Bank of Agriculture (BoA) in 90 days.

The federal government of Nigeria says it will finalise the recapitalisation of the Bank of Agriculture (BoA) in 90 days.

This is in collaboration with the Bureau of Public Enterprise (BPE).

The Minister of Agriculture and Rural Development, Audu Ogbeh recently revealed this at the kick-off meeting for the recapitalisation of the bank in Abuja.

The minister said it was an opportunity for farmers to become owners of the Bank.

Ogbeh however expressed worry over the inability of some high profile borrowers to repay loans borrowed from the Bank, noting that the ministry would support the Bank to minimise failures.

His words “We are bringing into life that which we hope and believe will make the BoA a strong element, to make our agriculture sector stronger. We have a new vision for agriculture, we want to create a farmers’ bank and this is the chance for farmers to become owners of the bank.”

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