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NDIC Chief Urges Stronger Partnership Between Regulators and Operators to Strengthen Nigeria’s Financial System
Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, has called for stronger cooperation between financial regulators and operators to build a more resilient banking system that can adapt to rapid technological changes.....KINDLY READ THE FULL STORY HERE▶
Hassan made the call while speaking at a recent stakeholders’ meeting attended by representatives of the Central Bank of Nigeria (CBN), commercial banks, and other financial institutions. He said collaboration between all players in the financial industry is essential to maintain public trust and ensure stability in the face of digital transformation and emerging risks.
According to him, Nigeria’s financial sector is going through a period of significant change, driven by innovation in financial technology, digital banking, and artificial intelligence. While these developments have opened new opportunities, Hassan warned that they also come with risks such as cyberattacks, data breaches, and financial fraud.
“The financial ecosystem must evolve together. Regulators and operators need to share information, strengthen supervision, and promote sound risk management to protect depositors and the economy,” Hassan said.
The NDIC boss explained that the corporation has been taking steps to protect depositors and enhance confidence in the financial system. He noted that NDIC recently paid more than ₦54 billion to over 691,000 depositors of the now-defunct Heritage Bank, while also declaring liquidation dividends to uninsured depositors.
“These actions show our commitment to ensuring that depositors’ funds are safe, even in times of crisis,” he added.
Hassan also identified several challenges affecting the efficiency of financial regulation and deposit insurance in Nigeria. One major issue, he said, is the lack of a unified customer identification system for corporate clients, which makes it harder to track accounts during bank resolution or liquidation.
He further mentioned difficulties in collecting insurance premiums from some financial institutions that do not maintain settlement accounts with the CBN. According to him, this creates delays in remittance and affects NDIC’s ability to perform its mandate effectively.
Hassan also stressed the need for a joint crisis management framework among financial regulators, noting that timely coordination is crucial during emergencies.
In response, CBN Governor Olayemi Cardoso commended NDIC’s ongoing efforts to strengthen public confidence in the banking sector. Cardoso said the apex bank is also improving its regulatory tools and enhancing cooperation with other agencies to manage risks in the financial system.
He highlighted the CBN’s plans to upgrade its Credit Risk Management System (CRMS) and expand the Global Standing Instruction (GSI) framework to cover more financial institutions, which will allow regulators to monitor and recover debts more effectively.
Both institutions reaffirmed their commitment to improving supervision, sharing data, and promoting financial inclusion across the country.
Financial analysts have praised NDIC’s recent reforms and quick response in settling depositors of failed banks. However, they say more needs to be done to address cyber threats and unregulated financial activities, especially from the fast-growing fintech sector.
Experts also emphasized the importance of policy consistency, transparency, and early warning systems to detect financial distress before it escalates.
Hassan concluded by saying that cooperation among regulators, operators, and consumers is the key to building a financial system that can withstand shocks and remain stable in a fast-changing global economy.
“Strong collaboration and innovation are the only ways to ensure that our financial system continues to serve Nigerians effectively,” he said.
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If Nigeria Had 36 Oshiomholes: Imagining The Power Of Relentless Public Service
....KINDLY READ THE FULL STORY HERE▶
Nigeria is blessed with many distinguished leaders, public servants, technocrats, entrepreneurs, and patriots who contribute daily to national development.
Yet every generation produces a few individuals whose public journey cuts across multiple phases of national life and leaves a visible imprint at every stage.
One of such figures is Adams Oshiomhole.
The interesting question is not whether one agrees with him on every issue.
The more fascinating question is this:
What would Nigeria look like if every state produced a leader with the same intensity, consistency, and public engagement that has defined Oshiomhole’s career?
From The Shop Floor To The National Stage
Before politics, Oshiomhole became nationally known through the labour movement.
As President of the Nigeria Labour Congress, he emerged as one of the most recognizable voices advocating for workers, salaries, welfare, and social justice.
Many Nigerians still remember the period when labour negotiations dominated national conversations and Oshiomhole became a symbol of resistance against policies perceived as unfavourable to ordinary citizens.
Whether one agreed with his methods or not, few doubted his willingness to stand in difficult places and speak for those without access to power.
That reputation for advocacy would later become the foundation of his political career.
The Governor Who Preferred Construction Sites To Comfort Zones
When he became Governor of Edo State, the transition from activist to administrator was closely watched.
Could a labour leader govern?
The answer came through roads, schools, healthcare facilities, urban renewal projects, and public sector reforms that transformed significant parts of Edo State.
Across communities, infrastructure became a defining feature of his administration.
Roads that had been neglected for years were reconstructed.
Schools received attention.
Public confidence in government delivery improved.
His administration was not without criticism, as is the case with every government, but even political opponents often acknowledge that his tenure changed the physical landscape of the state.
More importantly, he cultivated an image of accessibility.
Many citizens saw a governor who appeared willing to leave the office, inspect projects personally, and engage directly with communities.
The Senator Who Refuses To Stay Silent
Today, as a Senator representing Edo North Senatorial District, Oshiomhole continues to attract attention for a different reason.
In an era where many legislators work quietly behind committee doors, he remains one of the most vocal voices on the floor of the Senate.
On issues ranging from insecurity to economic policy, governance accountability, public spending, and national development, he has consistently demonstrated a willingness to ask difficult questions.
He has repeatedly argued that government performance should not be measured merely by budgets approved but by results delivered.
For many Nigerians, that resonates deeply.
The average citizen is less interested in figures on paper and more interested in safer communities, better roads, quality schools, reliable healthcare, and economic opportunities.
Oshiomhole’s interventions often reflect that perspective.
His constituency projects, community engagements, educational support initiatives, infrastructure interventions, and empowerment programmes have reinforced his long-standing image as a politician who remains connected to grassroots realities.
Why The Common Man Relates To Him
Perhaps Oshiomhole’s greatest political strength is not his position.
It is his story.
He understands the language of the market woman because he once represented workers.
He understands the concerns of civil servants because he fought for them.
He understands the demands of governance because he has governed.
And he understands legislative oversight because he now serves in the National Assembly.
That combination is rare.
It allows him to speak in a manner that often resonates beyond party lines.
Many Nigerians see not just a politician, but someone who has experienced different layers of public service and continues to engage with national issues from the perspective of ordinary citizens.
If There Were 36 Oshiomholes…
Imagine 36 governors with relentless energy for project inspection.
Imagine 36 senators constantly demanding accountability and measurable results.
Imagine 36 public officials willing to challenge inefficiency regardless of whose interests are affected.
Imagine 36 leaders deeply connected to grassroots communities while simultaneously participating in national policy discussions.
The result would likely be faster infrastructure development.
Stronger public accountability.
Greater citizen engagement.
More attention to workers’ welfare.
And perhaps a more responsive system of governance.
This is not to suggest that Nigeria lacks capable leaders.
Far from it.
Across the country are men and women making meaningful contributions in public service, business, academia, security, healthcare, and governance.
But Oshiomhole’s journey offers an important lesson.
Nations make progress when leadership is active rather than passive.
When public office becomes a platform for service rather than status.
When leaders remain close enough to hear the voices of the people they represent.
The real story is not about creating 36 Oshiomholes.
It is about cultivating the values that have defined much of his public life: courage, advocacy, accountability, visibility, grassroots engagement, and an unwavering willingness to speak when others choose silence.
If those qualities were replicated across Nigeria’s institutions, regardless of who occupies public office, the country would undoubtedly move faster toward the future its citizens desire.
And perhaps that is the most important question of all:
Osigwe Omo-Ikirodah is the Principal and CEO of Bush Radio Academy
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Borno Under Siege: Senator Ndume Demands U.S. Military Base To Crush Boko Haram!.
Former Senate Chief Whip, Ali Ndume, has publicly urged the United States to establish a military presence in Borno State to effectively neutralize Boko Haram insurgents in the North-East. Representing the Borno South Senatorial District, the senator argued during an interview on Channels Television’s Politics Today that a U.S. base near the Mandara Mountains could disrupt critical insurgent supply routes and significantly weaken terrorist operations.....KINDLY READ THE FULL STORY HERE▶
Senator Ndume emphasized that the geographical location of the Mandara Mountains is a strategic hub for insurgent movement and logistics. Key points regarding his proposal include:
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Technological Advantage: He stated that the U.S. possesses the technological capacity required to monitor insurgent movements from the Mandara Mountains all the way to the Sambisa Forest.
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Disrupting Logistics: Ndume noted that insurgents utilize a circular route through areas like the Lake Chad region, Kaga, and Mandaragirau to maintain their operations.
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Cutting Off Supply Lines: By securing the Mandara Mountains in Gwoza, he believes the military could effectively “cycle out” the insurgents, leaving them without access to support or necessary supplies.
Call for Enhanced Support
While appealing for American intervention to utilize their expertise and advanced surveillance, Ndume also stressed that the Nigerian Army requires sufficient resources and a significant number of “boots on the ground” to successfully secure these areas. He expressed his full support for such a partnership, noting that he had previously discussed the possibility of U.S. involvement to address the persistent insecurity in the region.
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Blow For Super Eagles: Defensive Pillar Igoh Ogbu Forced Out Of Portugal Clash!.
Nigeria’s build-up to Wednesday’s high-profile friendly against Portugal has been dealt a significant blow, with defender Igoh Ogbu sidelined by a suspected left Achilles tendon rupture. The 26-year-old Slavia Prague star sustained the injury during training on Saturday evening, forcing him to leave the pitch for urgent medical attention. While further tests are pending to confirm the severity, team officials are concerned that the setback could lead to a lengthy recovery.....KINDLY READ THE FULL STORY HERE▶
This development compounds an already difficult situation for head coach Eric Chelle, who is navigating the absence of several key players. The squad is currently missing stars like Victor Osimhen and Ademola Lookman, as well as Ola Aina, who remains sidelined following the conclusion of his club season. Ogbu’s absence is a major loss to the team’s defensive strategy, especially considering his recent consistent form in Europe and his rising importance to the national squad.
Despite these challenges, the Super Eagles enter the match in Leiria with positive momentum, having recently defended their Unity Cup title following wins over Zimbabwe and Jamaica, alongside a hard-fought 2-2 draw against Poland.
Conversely, Portugal’s squad has been significantly bolstered by the return of PSG stars Nuno Mendes, Vitinha, João Neves, and Gonçalo Ramos, all of whom joined camp following their Champions League final victory over Arsenal. Coach Roberto Martínez now has nearly his full roster available for Wednesday’s encounter at the Estádio Dr. Magalhães Pessoa. This match serves as a rematch of their 2022 meeting in Lisbon, where Portugal secured a decisive 4-0 win.
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