BOA is Nigeria’s premier agricultural and rural development finance institution, 100% wholly owned by the federal government of Nigeria. The ownership structure is – Central Bank of Nigeria (CBN) 40% and Federal Ministry of Finance Incorporated 60%. Bank of Agriculture Limited is supervised by Federal Ministry of Agriculture.
The Bank was incorporated as Nigerian Agricultural Bank (NAB) in 1973 and in 1978, was renamed Nigerian Agricultural and Cooperative Bank (NACB).
Subsequently in 2000, it was merged with the People’s Bank of Nigeria (PBN) and took over the risk assets of Family Economic Advancement Programme (FEAP) to become Nigerian Agricultural Cooperative and Rural Development Bank Limited (NACRDB, a name that has always be considered too long and unwieldy.
A plan to reposition the Bank into an effective and sustainable national agricultural and rural development finance institution in 2010 led to a further name change to Bank of Agriculture Limited (BOA).
Profile and values
We provide affordable credit facilities to segments of the Nigerian society who have little access to the services of conventional banks. We accept savings deposit from customers and encourage banking habits at the grass-roots.
At Bank of Agriculture we create opportunities for self-employment in the rural areas, thereby reducing rural-urban migration. We augment government efforts in the diversification of the productive base of the national economy.
Other areas of our mandate include the promotion of capacity building through the provision of relevant training and advisory services, encouraging the formation of cooperative societies at all levels, and fostering an accelerated growth
and development of the agricultural and rural economy.
Keypoints & strategy
Bank of Agriculture positioning strategy is anchored on Three Direction Points (TDPs); a tripod of Modernization,
Institutional capacity enhancement, and Refocusing on the Bank’s key mandates.
We will continue our corporate rebranding, enhancement of information technology and upgrade of working environment and
tools as elements of the modernization program.
A continued Refocusing of the Bank has involved a reorganizing of the bank and improving its processes to ensure effective
delivery of agricultural and rural finance services on a sustainable basis to support the national economic development
agenda towards achieving Nigeria’s vision 20:20:20.
We will emphasize the improvement of access to finance, and effectiveness of agricultural and rural development in view of
the importance of this sector to national development.
Head Office, Yakubu Gowon Way, Kaduna, Kaduna State, Nigeria.
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