Connect with us

latest

Your Money Is Safe! NDIC Begins Multi-Billion Naira Refund Following Nationwide Bank Closures!

Published

on

The Nigeria Deposit Insurance Corporation (NDIC) has initiated the process of taking over the operations and assets of 46 microfinance banks after the Central Bank of Nigeria (CBN) withdrew their operating licenses. The revocation follows the banks’ failure to satisfy the regulatory requirements necessary to maintain their standing within Nigeria’s banking sector.....KINDLY READ THE FULL STORY HERE▶

In a statement released on Wednesday by Hawwau Gambo, the Head of Communication and Public Affairs, the NDIC issued a strict warning to the public to cease all banking transactions with these institutions, as they are no longer authorized to operate. Furthermore, the corporation cautioned against any interference with the banks’ records, assets, or property, noting that such actions are illegal and could result in prosecution.

Liquidation Process and Depositor Protection

Appointed as the official liquidator under the Banks and Other Financial Institutions Act 2020 and the NDIC Act 2023, the corporation is now managing the closure of these institutions. Key aspects of this process include:

  • Asset Management: The NDIC has begun taking possession of the failed banks to settle their affairs.

  • Verification: Efforts are currently underway to verify depositor claims to facilitate the payment of insured deposits.

  • Transparency: The agency has committed to providing regular updates to depositors regarding the liquidation process and any subsequent necessary steps.

Is there anything else you would like to know about this development?

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

latest

Locked In: Imo APC Unveils Bold Strategy To Ensure Tinubu’s Sweeping Re-election!.

Published

on

Austin Onyedebelu, the Imo State Chairman of the All Progressives Congress (APC), has declared that the party leadership in the state is prepared to “fight like a wounded lion” to secure a second term for President Bola Tinubu in the 2027 general elections. He made this announcement during a key stakeholders’ meeting in the Owerri Zone, which brought together party executives from nine local government areas and 105 wards.....KINDLY READ THE FULL STORY HERE▶

During his address, Onyedebelu emphasized unity as the party’s primary tool for success. He outlined a clear expectation of accountability for all party officials:

  • Party leaders will be held directly responsible for the electoral performance within their respective jurisdictions.

  • Officials were urged to proactively identify and report any potential challenges or individuals that might sabotage the party’s efforts before the election occurs.

  • The chairman stressed that victory must be secured through genuine grassroots mobilization and real votes, rather than seeking shortcuts.

Warning Against Anti-Party Activities

Onyedebelu issued a stern caution to members regarding anti-party activities, noting that those who undermine their own party should not expect to benefit from the opposition. He explained that if the opposition wins, they will prioritize rewarding their own loyal members before considering anyone who worked against their own party. Furthermore, he identified the 2027 cycle as a crucial milestone for the Owerri Zone, particularly regarding its ambition to produce the next Governor of Imo State.

Party Mobilization

The meeting, organized by the State Working Committee, was described by State Secretary Onyekachi Ibezim as a vital opportunity to engage with grassroots leadership, whom he labeled the “engine room” of the party. In response to the committee, Justus Ogu, the APC State Vice Chairman for the Owerri Zone, pledged that the zone would remain loyal and deliver comprehensive victories for all APC candidates, ranging from the presidential level to the state House of Assembly.

Continue Reading

latest

Bonus Bonanza! Governor Oborevwori Delivers Major Financial Boost To Thousands Of State Employees!.

Published

on

In a landmark decision, Governor Sheriff Oborevwori has authorized the payment of a 13th-month salary bonus for civil servants in Delta State. The governor unveiled this initiative on Wednesday during a Dinner and Award Night in Asaba, which was organized to commemorate the 2026 Public Service Week.....KINDLY READ THE FULL STORY HERE▶

The announcement was met with widespread enthusiasm from those in attendance. According to Governor Oborevwori, the bonus serves several purposes:

  • It is intended to recognize the dedication and hard work of employees who support the state’s progress.

  • The payment is designed to enhance the overall welfare of the workforce.

  • It aims to inspire continued commitment among staff toward their professional duties.

With this approval, Governor Oborevwori becomes the first governor in Delta State to implement a 13th-month salary bonus for civil servants. The 2026 Public Service Week celebration itself was held to honor the vital contributions public servants make in delivering essential services and government programs throughout the state.

Potential Federal Salary Review

On a broader note, the Chief of Staff to the President, Femi Gbajabiamila, has indicated that the Federal Government is considering a review of workers’ salaries. He noted that the current ₦70,000 minimum wage, established by President Bola Tinubu’s administration in 2024, is no longer aligned with current economic realities in Nigeria.

Continue Reading

latest

The Wait Is Over: Oyo Teachers Return To Classrooms Following Dramatic Strike Suspension!.

Published

on

Public primary and secondary schools across Oyo State are officially back in session today following the Nigeria Union of Teachers’ (NUT) decision to call off a one-month industrial action. The strike, which began on June 1, was initiated as a protest against the abduction of pupils and teachers from three schools in the Oriire Local Government Area on May 15, 2026.....KINDLY READ THE FULL STORY HERE▶

NUT President Titus Amba explained that the union decided to end the strike after engaging in dialogue with the state government and prioritizing the academic needs of the students who had been kept out of school. Amba noted that the union had successfully demonstrated solidarity with the affected individuals and believed it was time to allow the children to return to their classrooms.

Official Resumption Directive

In a formal statement, Oyo NUT Chairman Hassan Fatai and Secretary Olukayode Salami instructed all teachers in public primary and secondary schools to report for official duties starting Thursday, July 2, 2026. The union emphasized that this decision followed government commitments to:

  • Intensify rescue operations for those abducted.

  • Improve security measures within schools.

  • Provide necessary support to the families impacted by the kidnappings.

Government Response

The Oyo State Commissioner for Information, Dotun Oyelade, praised the union’s decision to suspend the strike. He remarked that by returning to the classroom, the teachers have spared the state from the adverse social consequences that would have resulted from students remaining idle during the conflict.

Continue Reading

Trending

Copyright © 2023 NIVONEWS