FG names new board for Bank of Agriculture

Nigeria's Federal Government has inaugurated a new 10-man Board of Directors for the Bank of Agriculture (BOA), signaling a renewed commitment to enhancing the institution's role in national development. The Minister of Agriculture and Food Security, Senator Abubakar Kyari, presided over the inauguration in Abuja, charging the new members to work with "utmost fidelity to the nation" in advancing the bank's mandate.

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provide leadership that would support projects capable of creating jobs, reducing poverty and improving the socio-economic well-being of Nigerian families.

The formation of the new board is intended to reinforce corporate governance and usher in strategic leadership, positioning the bank to better support the Federal Government's priorities. These priorities include driving agricultural development, ensuring food security, promoting financial inclusion, and fostering sustainable economic growth across the country. The board's responsibilities will encompass supporting projects that create jobs, reduce poverty, and improve the socio-economic well-being of Nigerian families.

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The inauguration represents more than the constitution of a new board. It marks a renewed commitment to strengthening the Bank and positioning it to deliver greater impact in support of Nigeria’s agricultural transformation.

Muhammad Babangida, the newly appointed Chairman of the Board, reaffirmed the board's dedication to collaborating with management. He emphasized the goal of repositioning the BOA as a leading development finance institution. "The inauguration represents more than the constitution of a new board. It marks a renewed commitment to strengthening the Bank and positioning it to deliver greater impact in support of Nigeria’s agricultural transformation," Babangida stated.

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the bank would intensify efforts to expand access to affordable agricultural credit, strengthen institutional governance and risk management.

Managing Director and CEO Ayodeji Sotinrin highlighted the bank's commitment to translating the board's vision into tangible outcomes. This will involve strengthening governance, improving access to agricultural finance, and forging strategic partnerships to empower farmers, agribusinesses, and rural communities. The BOA plans to intensify efforts in expanding access to affordable agricultural credit, enhancing institutional governance and risk management, accelerating digital transformation, and increasing its overall impact as Nigeria's premier agricultural development finance institution.

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the bank would also accelerate digital transformation and enhance its impact as Nigeria’s leading agricultural development finance institution.