Bank of Agriculture (BOA) Limited was incorporated as Nigerian Agricultural Bank (NAB) in 1972 and became operational in 1973. In 1978, the institution’s name was changed to Nigerian Agricultural and Co-operative Bank (NACB) Limited to reflect a broader mandate. In October, 2001, following the Federal Government’s efforts to streamline the operations of its agencies, the 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 (NACRDB) Limited. Ten years later, in October 2010, the Bank was rebranded and it adopted the new name Bank of Agriculture (BOA) Limited as part of its Institutional Transformation Programme.

Key Manadates

Provision of agricultural credit to support all agricultural value chain activities.
Provision of non-agricultural micro credit
Savings mobilization
Capacity development through promotion of co-operatives, agricultural information systems, and the provision of technical support and extension services.
Provision of opportunities for self-employment in the rural areas, thereby reducing rural-urban migration.
Inculcation of banking habits at the grass-roots of the Nigerian society.

Strengths

Nigeria’s largest development finance institution and leading agricultural finance institution.
DFI with the highest rural operational coverage nationwide, with 201 outlets nationwide, 6 zonal offices and a head office.
Highest interaction/interface with rural farmers with deep institutional knowledge of rural and agricultural finance.
Over 40 years experience in rural and agricultural finance.
Strategic partnerships with USAID markets, IFAD, World Banks,RUFIN, and ECOWAS funds, Federal Ministry of Agriculture and Rural Development, Federal Ministry of Women Affairs, State and Local Governments, etc.