News
NDIC Announces Date For Refund Of Heritage Bank Customers
The Nigerian Deposit Insurance Corporation (NDIC) says the payment of depositors in Heritage Bank will commence in one week.
The Managing Director of NDIC, Bello Hassan, disclosed this in a briefing on the liquidation of the bank in Abuja on Wednesday.
Hassan said the total bank deposits at Heritage Bank stand at N650bn while its loan portfolio stands at over N700bn, according to Channelstv.
He stated that the NDIC looks forward to ensuring the loan repayment within the next six months.
READ ALSO: Singer The Dream Accused Of Rape, Sexual Battery In New Lawsuit
The NDIC MD said, “All depositors are currently being verified for onward payment of insured benefit of five N5m while depositors with insured deposits above N5m naira will be paid upon the sale of the assets of the bank.
“The NDIC put the total depositors at the bank at N2.3m with 99 per cent of them having total balances less than five million naira.”
There are about 116 branches of heritage banks across the country.
The assurance of the payment by the NDIC will give hope to the customers of Heritage Bank who have been in packing mode following the revocation of the bank’s licence.
READ ALSO: JUST IN: Anxiety As CBN Revokes Heritage Bank’s Licence
The banking licence of Heritage Bank was revoked by the Central Bank of Nigeria (CBN) on Monday.
According to the CBN, the move was under its mandate to promote a sound financial system in Nigeria, and in exercise of its powers under Section 12 of the Banks and Other Financial Act (BOFIA) 2020.
According to a statement by the Ag. Director, Corporate Communications of the Appex bank, Hakama Ali, the bank had breached Section 12 (1) of BOFIA, 2020.
READ ALSO: CBN Breaks Silence On Alleged Plan To Revoke Polaris, Other Banks Licenses
Ali added that the Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability.
It said “This follows a period during which the CBN engaged with the bank and prescribed various supervisory steps intended to stem the decline. 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.”
Consequently, the CBN said it took action to strengthen public confidence in the banking system and ensure that the soundness of the financial system is not impaired.
The apex bank then appointed the Nigeria Deposit Insurance Corporation (NDIC) as the liquidator of the bank under Section 12 (2) of BOFIA, 2020.
News
Transfer: Premier League Clubs Scramble For Dele-Bashiru
Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.
Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.
READ ALSO:Film Premiere: Edo In Talks With Embassies To Promote Safe Migration —Agazuma
La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.
The 24-year-old has two years left on his contract with the Serie A club.
The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.
He has been a regular feature for Lazio this season.
News
Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses
The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.
DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.
A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.
READ ALSO:Xenophobic Attacks: Oshiomhole Tells FG To Retaliate Against South African Companies In Nigeria
“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.
“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.
“This contradiction will no longer be tolerated,” the statement said.
News
N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs
First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.
The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.
At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.
Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.
READ ALSO:I’ve Been Blacklisted In Music Industry For 13 Years – Seun Kuti
Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.
“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.
“Women-led enterprises are critical to economic activity, yet they face structural barriers.
This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”
“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).
READ ALSO:My Beef With Wizkid Is For Life – Seun Kuti
“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”
Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.
Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.
Applications for the zero-interest loan are now open.Apply now.
-
Politics4 days ago2027: Tinubu’s Re-election May Put An End To Nigeria — Baba Ahmed Warns
-
Politics5 days agoBREAKING: 2027: Former Adamawa APC Guber Candidate, Aishatu Binani Defects To NDC
-
Business4 days agoJUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike
-
Entertainment5 days agoActress Eniola Badmus Gets New Federal Appointment
-
News2 days agoBREAKING: Wike Picks Alabo George For Rivers Governorship
-
News4 days ago2027: Pastor Adeboye Speaks On Nigeria’s Next President
-
Politics4 days agoNDC Speaks On Peter Obi, Kwankwaso Joining Party
-
News3 days agoOPINION: Why South Africans Murder Nigerians In Cold Blood
-
Politics5 days ago2027: Pondi, Otuaro, Other Delta South Stakeholders, Endorse Senator Joel-Onowakpo For Second Term
-
Politics2 days agoJUST IN: Why I left ADC For NDC With Kwankwaso – Peter Obi Opens Up
