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NDIC Begins Verification And Payment Of Insured Deposits To Heritage Bank Customers
NDIC Begins Verification And Payment Of Insured Deposits To Heritage Bank Customers....KINDLY READ THE FULL STORY HERE▶
The Nigeria Deposit Insurance Corporation (NDIC) has announced the commencement of the liquidation process for Heritage Bank Plc, following the revocation of its banking license by the Central Bank of Nigeria (CBN)……CONTINUE READING
According to Bashir Nuhu, the Director of Communication and Public Affairs at NDIC, depositors of the failed bank will be paid up to N5 million per depositor for insured deposits. The liquidation process is in line with Section 55 Sub-sections 1 & 2 of the NDIC Act 2023.
Nuhu outlined the following key points regarding the verification and payment process:
- Verification and Payment of Insured Deposits:
- Depositors with alternate accounts within the industry will be paid up to the insured amount of N5 million per depositor using their Bank Verification Number (BVN) to locate their alternate account.
- Depositors with funds exceeding N5 million will receive liquidation dividends upon realization of the bank’s assets and recovery of debts owed.
- Depositors Without Alternate Bank Account:
- They are advised to visit the nearest branch of the bank with proof of account ownership and verifiable means of identification to verify their deposits and receive payment.
- Alternatively, depositors can file an online claim on the NDIC website claims page, providing the necessary documentation.
- Verification and Payment of Creditors:
- Creditors are instructed to visit the nearest branch of the bank or use the online platform to file their claims. Payment will commence after all depositors have been paid.
- Debtors’ Repayment of Loans:
- Debtors who have outstanding loans are advised to contact the Corporation’s Asset Management Department (AMD) for repayment.
Nuhu emphasized the commitment of NDIC to the safety of depositors’ funds in all licensed banks, reassuring the public that banks whose licenses have not been revoked remain safe and sound.
The revocation of Heritage Bank’s license by the CBN was due to its failure to improve its financial performance, posing a threat to financial stability. The bank’s management was unable to reverse the decline despite regulatory interventions, leading to the action taken by the CBN to protect the financial system and maintain public confidence.
Abia State Governor Alex Otti has strongly opposed any calls for the reinstatement of the petrol subsidy, asserting that government interventions should focus squarely on supporting production rather than consumption.....KINDLY READ THE FULL STORY HERE▶
Speaking during an Arise Television interview, Otti maintained that he has opposed the fuel subsidy for years, arguing that subsidizing consumption fosters waste, strains government finances, and encourages careless usage since consumers do not bear the full cost.
Key Highlights:
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Longstanding Stance: Otti revealed he had advocated for removing the fuel subsidy as far back as 2020 during the COVID-19 pandemic when plunging global crude oil demand presented a clear window to end the regime.
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Condemning the Return: Stating that the subsidy system was a scam prone to widespread abuse, Otti bluntly declared that anyone praying for its return does not mean well for Nigeria.
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Acknowledging Short-Term Pain: While recognizing that the removal—initially announced by President Bola Tinubu on May 29, 2023—has brought short-term economic hardship and higher transport costs, Otti insisted that scrapping it remains the correct policy for the nation’s future.
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“‘We’re Working Together’: Buba Galadima Exposes Secret Cabal Vowing To Send Tinubu Packing”.
Nigeria Democratic Congress (NDC) chieftain Buba Galadima has claimed that former Ekiti State Governor Kayode Fayemi is collaborating with a coalition of opposition figures to unseat President Bola Tinubu in the upcoming 2027 general elections.....KINDLY READ THE FULL STORY HERE▶
Speaking on Channels Television’s Politics Today, Galadima expressed strong confidence that NDC presidential candidate Peter Obi would secure victory if the polls are free and fair. He revealed that he is part of a seven-member opposition group coordinated by Fayemi, stating that they are making steady progress toward their goal.
Key Highlights:
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The Core Objective: When pressed on the agenda of the group during the interview, Galadima stated plainly that their sole mission is “To defeat Tinubu”.
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Reactions and Skepticism: The claim sparked immediate public commentary, with Lere Olayinka, media aide to FCT Minister Nyesom Wike, taking to to express skepticism, stating he would only believe the assertion if Fayemi fails to publicly refute it.
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Broader Defection Rumors: Adding to the political intrigue, prominent businessman Isaac Fayose recently alleged that as many as five All Progressives Congress (APC) governors are secretly backing the NDC ahead of 2027.
Super Eagles captain Wilfred Ndidi has assured Nigerians that the team has learned hard lessons from their troubled 2026 World Cup qualifiers and will not repeat those mistakes as they kick off their 2027 Africa Cup of Nations (AFCON) campaign against Madagascar at 5:00 p.m. today at the Godswill Akpabio International Stadium in Uyo.....KINDLY READ THE FULL STORY HERE▶
Reflecting on past struggles, Ndidi emphasized that a strong opening performance is critical to establishing momentum in Group L.
Key Highlights:
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Lessons Learned: Acknowledging that their previous World Cup qualifying start was severely poor, Ndidi insisted that a focused Super Eagles squad is fully prepared to avoid a repeat.
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Focus on the First Game: Stressing that the opening fixture sets the tone for the entire tournament, the Leicester City midfielder noted that a victory today will provide vital confidence for upcoming fixtures.
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Historical Context: While Madagascar famously defeated the Super Eagles 2-0 during the 2019 AFCON group stage, Nigeria holds a superior historical edge in qualifying encounters, boasting three wins and a draw from four previous meetings.
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