ABOUT US

About Us

Bank of Agriculture Limited is the nation’s foremost agricultural and rural development finance institution. It was incorporated in 1972 as Nigerian Agricultural Bank (NAB), in 1978, the name was changed to Nigerian Agricultural and Co-operative Bank Limited (NACB) to reflect the inclusion of co-operative financing into its broader mandate. In October, 2001, following the Federal Government’s effort to streamline the operations of its Agencies, that were believed to be performing overlapping functions, three institutions Nigerian Agricultural and Co-operative Bank Limited (NACB), People’s Bank of Nigeria (PBN) and the risk assets of the Family Economic Advancement Programme (FEAP) were merged to form Nigerian Agricultural, Co-operative & Rural Development Bank Limited. In October 2010, following the rebranding of the Bank to reflect its institutional transformation Programme, the Bank adopted the new name Bank of Agriculture Limited (BOA)

 

OWNERSHIP STRUCTURE

The Bank is wholly owned by the Federal Government of Nigeria with its shares held by Central Bank of Nigeria (CBN) (40%) and Federal Ministry of Finance Incorporated (MOFI) (60%). It is supervised by Federal Ministry of Agriculture. It has an Authorized Share Capital of N50 Billion (Fifty Billion Naira)

 

OUR KEY MANDATE

The Banks key mandates are:

  1. Provision of credit to support all activities in the Agricultural Value Chain
  2. Provision of non-agricultural micro credit to the poor segment of the society comprising rural artisans, petty traders etc.
  3. Capacity development for the promotion of co-operatives and agricultural information systems.
  4. Provision of technical support and extension services
  5. Boosting of opportunities for self-employment in the rural areas to stem rural-urban migration.
  6. Inculcation of banking habits at the grass-roots of Nigerian society.

 
OUR STRENGHT

  1. Nigeria's largest Development Finance Institution (DFI) and one of Africa’s leading agricultural finance institution.
  2. Nigerian DFI with the highest rural operational outlets comprising 136 outlets, 6 Zonal Offices and the Head Office, spread across the 36 States of Nigeria and the Federal Capital Territory.
  3. The Bank has deep institutional knowledge of rural micro and agricultural financing with over 40 years of experience.
  4. The Bank maintains strategic partnerships with international and multilateral institutions like USAID, IFAD, World Bank, African Development Bank (AfDB) and ECOWAS Bank for Investment and Development (EBID).

 

 

 

Key Facts
Loan Rate
  • . Microcredit Agric & collaborations
  • . SME (Production & Working Capital)
  • . Marketing, On-lending to MFBs & Microcredit (Non-Agric)
Loan Condition
  • 20% Lien Deposits
  • 6 months Minimum Customer's Account Relationship
Deposit
  • . Interest Rate
  • Negotiable Fixed Deposit

Branch Location