James Emejo in Abuja
The Minister of Agriculture and Rural Development, Chief Audu Ogbeh has indicated that farmers would be given the opportunity to acquire shares of the Bank of Agriculture (BoA) within the next three months when its privatisation processes is expected to have been concluded.
It also emerged that the Asset Management Corporation of Nigeria (AMCON) and other related risks takers may consider taking over the existing bad loans of the BoA at a discounted rate. This is to allow the new management team that would emerge after the recapitalisation to have a clean balance sheet to allow for a fresh start.
Speaking at the kick-off meeting for financial advisory services for the restructuring and recapitalisation of the Ogbeh, stressed that there could be a new management team of the bank by May.
He said the federal government has a new vision for agriculture, part of which is to create a farmers’ bank.
The minister said a new…
