Tinubu Constitutes Governing Boards for NADF and BOA

News in Brief

-President Tinubu announces board appointments for NADF and BOA, bringing experienced leaders from all geopolitical zones to lead the agencies and enhance agricultural financing in Nigeria.

-The governing boards consist of previously announced leaders and new executive and non-executive directors.

President Bola Ahmed Tinubu has approved the constitution of governing boards for the National Agricultural Development Fund (NADF) and the Bank of Agriculture (BOA). 

The confirmed list of appointments was contained in a release issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Friday, December 5.

The announcement confirms earlier appointments and adds executive and non-executive directors representing Nigeria's six geopolitical zones, signalling a push to strengthen the key institutions for agricultural financing amid rising food demands in the country.

Bank of Agriculture's New Board

For the Bank of Agriculture(BOA), the president confirmed Muhammad Babangida as Chairman and Ayo Sotinrin as Managing Director, as announced earlier in the year. Additionally, three executive directors and five non-executive directors were added to the board.

The new executive and non-executive directors are appointed from across the country, ensuring representation across Nigeria’s six geopolitical zones. They include:

Executive Directors

Fatima Garba, from Sokoto - Executive Director Corporate Services

Ka’amuna Ibrahim Khadi, from Borno - Executive Director Risk Management and Strategy

Hakeem Oluwatosin Salami  from Kwara - Executive Director Operations

Non-executive Directors

Aminu Malami Mohammed  from the North-East

Charles Amuchienwa from the South-East

Oladejo Odunuga from the South-West

Rabiu Idris Funtua from North-West and 

Kochi Donald Iorgyer from North-Central

These appointments, drawn from diverse regions and expertise in finance and operations, position BOA to drive rural credit expansion for smallholder farmers, youth entrepreneurs, and agribusinesses struggling with high lending costs.

NADF Governing Board

While still confirming Muhammad Abu Ibrahim as Executive Secretary and CEO of NADF, as appointed earlier in October 2023, the President has now constituted the board members to expand the agency’s leadership in line with the fund’s statute. 

NADF is now led by Mallam Bello Maccido (North-West) as Chairman, a veteran finance professional and the pioneer Chairman of FBNQuest Merchant Bank Limited with over 30 years in financial services. Other board members include:

Dr Nelson Henry Essien (South-South, Akwa Ibom), a Financial consultant and seasoned banker

Amina Ahmed Habib (North-West, Jigawa), a  Fellow of the Institute of Chartered Accountants

Akinyinka Olufela Akinnola (South-West, Ondo), an Engineer with diversified business interests

Hassan Tanimu Musa Usman (North-East, Borno), the Founder of New Frontier Developments Ltd, a former non-executive director of Access Bank

Lufer Samson Orkar (North-Central, Benue), and 

Felix Achibiri (South-East, Imo), the Group Director of Genesis Energy Holdings, Chairman/CEO of DFC Holdings Limited

As a young agency designed by farmers and agripreneurs to improve access to affordable capital, this diverse lineup, blending banking prowess, engineering, and energy sector leadership, promises to accelerate NADF's role in bridging funding gaps for Nigeria's agriculture sector, making it vital for food security and job creation among young Nigerians.