馃嚦馃嚞NigeriaWest Africa
Bank of Agriculture unveils roadmap to modernize operations and boost food security
via Punch Nigeria2 min read
The Bank of Agriculture BOA has launched a strategic roadmap to modernize its operations, expand grassroots financial inclusion, and accelerate agricultural transformation, aligning with the Federal Government鈥檚 food security agenda. Ayodeji Sotinrin, the Managing Director and Chief Executive Officer of the bank, stated that the institution is implementing operational upgrades and forming strategic partnerships to improve agricultural intervention programs and empower smallholder farmers. The BOA is strengthening its agricultural delivery architecture through collaborations with state-level platforms, licensed input suppliers, and international development partners. A key part of this strategy is a Memorandum of Understanding with the United Nations Development Programme UNDP, which links the bank鈥檚 revitalization agenda with the UNDP鈥檚 Integrated Smart States Programme. This partnership aims to transform Nigeria鈥檚 agricultural sector into an investment-ready system capable of attracting blended and climate finance, while supporting the One Million Hectare Tree Crop Initiative. Sotinrin emphasized the vision to deploy capital intelligently and efficiently to reposition the BOA as a catalyst for food security and rural prosperity, bringing farmers, especially the youthful population in hinterlands, into the financial net. The bank has also overhauled its verification framework to eliminate fraudulent beneficiaries, incorporating Bank Verification Number checks, Know Your Custo
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