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Peter Obi Urges FG To Ensure Immediate Payment To Heritage Bank Depositors

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Peter Obi Urges FG To Ensure Immediate Payment To Heritage Bank Depositors....KINDLY READ THE FULL STORY HERE▶

Peter Obi, the 2023 Labour Party presidential candidate, has called for the immediate payment of depositors of Heritage Bank following the recent revocation of the bank’s operating license by the Central Bank of Nigeria (CBN)…….CONTINUE READING

 

 

 

 

In a statement released on X on Monday, Obi highlighted the significant impact this revocation will have on Heritage Bank’s depositors and urged the Federal Government to ensure prompt payment in full through the Nigeria Deposit Insurance Corporation (NDIC), especially given the challenging economic conditions the nation faces.

“The latest CBN’s revocation order on Heritage Bank’s operating license and subsequent appointment of NDIC as liquidator of its assets, though affirmed by the regulators as necessary at this point to enhance financial stability, has a far-reaching impact on the bank’s depositors,” Obi stated. “I will urge the federal government via NDIC to ensure immediate payment of all depositors in Heritage Bank in full to help alleviate the prevailing hardship the people are going through in the country.”

Obi emphasized that small and medium-sized businesses (SMEs) and individual depositors, who are already facing significant financial difficulties, rely on their savings in the now-liquidated bank for survival. He warned that any delay or denial of payment could exacerbate their economic woes and lead to a crisis of confidence in the banking system.

“Many individual savers and SMEs are already groaning under severe negative effects of the economy and living in abject poverty. These depositors depend on the savings they have in the now-liquidated bank to survive. Any attempt to deny or delay payment to these depositors would worsen their economic woes and could lead to a crisis of confidence in the banking system. Anything short of immediate and full payment can create panic in the banking sector which our already fragile economy cannot afford. On no account should the actions of government through the CBN destabilize the financial system or shake public confidence in the integrity of the system,” he asserted.

Earlier, the CBN, through its acting Director of Corporate Communications, Hakama Sidi Ali, issued a statement expressing concern about Heritage Bank’s Board and Management’s failure to improve its financial performance, which posed a threat to financial stability. Ali stated, “Regrettably, the bank has continued to suffer and has no reasonable prospects of recovery, thereby making the revocation of the license the next necessary step.”

The NDIC announced that the liquidation of Heritage Bank Plc had begun and assured customers that it would reimburse N5 million in insured deposits to bank customers.

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MILLIONS IN, MILLIONS OUT: Manchester United Cracks Record £677.6M Revenue Amid Mounting Financial Bleed!

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Manchester United has reported a net loss of £43 million (approx. $57 million) for the financial year ending June 30, even as the club pulled in a record-breaking revenue of £677.6 million.....KINDLY READ THE FULL STORY HERE▶

The club’s revenue saw a 1.7 percent boost, largely propelled by a nearly 20 percent increase in broadcasting income following a third-place finish in the Premier League during the 2025/26 season. However, both commercial and matchday revenues dropped by nearly 5 percent due to playing without European football.

Key highlights from the financial report include:

  • Seventh Consecutive Loss: The accounts marked United’s seventh straight annual loss after tax, which included £8.2 million in exceptional costs mainly linked to the departure of manager Ruben Amorim in January after 14 months in charge.

  • Stadium Expansion & Cost-Cutting: The club invested £63.5 million on land adjacent to Old Trafford as part of ambitions to build a new 100,000-capacity stadium, while co-owner Jim Ratcliffe has continued implementing strict cost-cutting initiatives and job reductions.

  • Future Outlook: Chief Executive Omar Berrada expressed confidence in the club’s trajectory and financial discipline, with the club projecting revenues between £740 million and £760 million for the current financial year.

Despite the positive financial outlook and a return to Champions League football under manager Michael Carrick, the team has faced a rocky start to the new Premier League campaign, picking up five points from their first five matches and exiting the English League Cup.

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ARM UP OR WIPE OUT! General Musa Demands Mandatory Military Boot Camp For Every Single Citizen!

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The Minister of Defence, General Christopher Musa (rtd), has proposed that every Nigerian citizen should undergo military training, arguing that the physical and mental endurance it builds provides a unique perspective on life.....KINDLY READ THE FULL STORY HERE▶

Speaking on the African Leadership Podcast with Ken Giami, the minister explained that putting ordinary citizens through rigorous boot-camp conditions would foster a deeper appreciation for the sacrifices made by members of the Armed Forces.

According to Musa, experiencing firsthand hunger, exhaustion, and physical strain teaches invaluable lessons in resilience.

  • Building Resilience: Citizens would learn what it means to keep moving forward despite physical fatigue, lack of sleep, and hunger while protecting their country.

  • Understanding the Military: The training is designed to help the public truly grasp the gravity of soldiers putting their lives at stake on the front lines.

  • Addressing Criticism: Expressing frustration over public backlash, the minister noted that such an experience would help critics better understand and respect the hardships military personnel face daily.

Musa emphasized that understanding these hardships highlights the true dedication of security forces who risk everything so that other Nigerians can move about freely.

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‘Nigeria Will Be Governed Remotely Until Tinubu Returns’ – Hakeem Baba-Ahmed

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ABUJA — The National Chairman of the Peoples Redemption Party (PRP), Dr. Hakeem Baba-Ahmed, has remarked that Nigeria is effectively being managed from afar following the extension of President Bola Tinubu’s leave in Europe.....KINDLY READ THE FULL STORY HERE▶

Baba-Ahmed pointed out that both President Tinubu and Vice President Kashim Shettima are currently out of the country—with the President extending his working vacation in Paris and the Vice President attending the United Nations General Assembly (UNGA) in New York.

Key Highlights from Baba-Ahmed’s Remarks

  • Remote Governance: Baba-Ahmed criticized the concurrent absence of the nation’s top two leaders, noting on social media that the country would have to “be governed remotely” until the President’s return.

  • Critical Timing: He emphasized that this leadership vacuum occurs at a crucial moment when citizens are evaluating the current administration and deciding whether they desire a continuation of leadership or a major change.

  • Questions on Leadership Priorities: The PRP chieftain expressed skepticism over the timing of the prolonged absence, suggesting that the administration’s current approach leaves critical domestic governance gaps.

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