CORPORATE GOVERNANCE

Corporate Governance

The Bank is wholly owned by the Federal Government through the Central Bank of Nigeria (CBN) which holds 40% and Federal Ministry of Finance Incorporated which holds 60%. Bank of Agriculture Ltd employs the principles of corporate governance to facilitate transparency of all transactions, gain the understanding of its stakeholders, maintain relevance in its stream of professional competence, establish the reliability and comparability of the its key performance indicators approximate to global standards.

It is registered as a limited liability company under Companies of Allied Matters Act (CAMA). The Bank is supervised operationally by the CBN and administratively by the Federal Ministry of Agriculture and Rural Development.

 

The Board of Directors is based largely on institutional representation as follows:

1.      Chairman – appointed by the President

2.      Central Bank of Nigeria (CBN)

3.       Office of Secretary to the Federal Government (OSGF)

4.      Federal Ministry of Agriculture and Rural Development (FMA&RD)

5.      Federal Ministry of Finance Incorporated (MOFI)

6.      Managing Director and Chief Executive Officer - appointed by the President

7.      Executive Director (wholesale Finance) - appointed by the President

8.      Executive Director (Corporate Services) - appointed by the President

9.      Executive Director (Finance and Risk Management) - appointed by the President

 

Executive Management Team are:

1.      The Managing Director and Chief Executive Officer

2.      Executive Director (Wholesale Finance)

3.      Executive Director (Corporate Services)

4.      Executive Director (Finance and Risk Management)

 

ADMINISTRATIVE STRUCTURE

The Bank has a three tier administrative structure: the Head Office closely followed by Zonal Offices and the Branch Offices.

A.   HEAD OFFICE

The Head Office comprises five Directorates as follows:

I.        MD/CEO Directorate comprising three Departments (Corporate planning, Internal Audit and Company Secretary and Legal Adviser)

II.        Finance and Risk Management Directorate with five Departments(Treasury and Corporate Finance, Internal Control, Financial Control, Risk Management and Classified Assets)

III.        Wholesale Finance Directorate with two Departments ( Collaboration and Agribusiness)

IV.        Corporate Services Directorate with three Departments ( Human Resources, General Admin and Info tech)

V.        Retail finance Directorate with three Departments (micro lending, Branch Management, Zonal offices)

 

B.   ZONAL OFFICES

There are six Zonal Offices covering the 6 (six) Geopolitical Zones in the Country:

S/NO

ZONE

ZONAL HEADQUATERS

1

North Central

Abuja (FCT).

2

North East

Bauchi, Bauchi State.

3

North West

Kano, Kano State.

4

South East

Enugu, Enugu State.

5

South South

Port Harcourt, Rivers State.

6

South West

Ibadan, Oyo State.

 

C.   BRANCH OFFICES

The Bank has a network of 136 outlets (Rural Branches and Urban/Semi Urban).

The six Zones report to the Head office while the Branches report to the Zonal Offices. 

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