Chief Audu Ogbeh |
*Apex bank to inject N500
billion
A team of officials from the Central Bank of Nigeria (CBN)
may be soon be deployed to Bank of Agriculture (BOA) for thorough over hauling
and repositioning of the organization before the handing over of about N500
billion as recapitalization fund.
The Federal Government had sometimes inaugurated a national
council on privatization and steering committee on the restructuring and
recapitalization of BOA, and the resolution from this team must have informed
the seconding of officials from CBN to embark on the practical repositioning
that is expected to put the bank in more competitive ways of attending to
farmers’ credit needs promptly.
A source close to the minister hinted that in less than two
weeks, a team of CBN official will move into action at the BOA to effect the
repositioning before the release of the fund as it was not certain whether
workers will be sacked or not. But the source said the purpose is for the
benefit of the bank and generally for agricultural development in terms of
credit availability to farmers.
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