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NDIC Commences N16bn Payment To 20 Defunct Banks’ Stakeholders

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The Nigeria Deposit Insurance Corporation (NDIC) has announced the declaration of N16.18 billion in liquidation dividends to depositors, creditors, and shareholders of 20 banks in liquidation.

This follows impressive recoveries from debtors and realisation of assets of banks in liquidation, a statement by the corporation’s Director, Communication and Public Affairs, Bashir Nuhu, said Monday.

To this end, the NDIC said it had commenced verification and payment of stakeholders covered by the declarations within 30 days, starting from September 28.

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“It is instructive to note that the ongoing payment is sequel to earlier payment of various sums which cumulatively amounted to N45.45bn as liquidation dividends in respect of the 20 banks as at July 2023,” it added.

The closed banks covered by the exercise include Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, Progress Bank, Merchant Bank of Africa (MBA), and Premier Commercial Bank.

The others are North South Bank and Prime Merchant Bank. Others are Commercial Trust Bank, Cooperative and Commerce Bank, Rims Merchant Bank, Pan African Bank, Fortune Bank, All States Trust Bank, Nigeria Merchant Bank, and Amicable Bank in-liquidation.

See the full statement below:

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Bauchi Lawmaker Pledges To Expedite Passage Of Bill On Reduction Of Out-Of-School Children

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Honourable Nasiru Ala, the Chairman, House Committee on Education in the Bauchi State House of Assembly has pledged to expedite the passage of the state framework Bill to reduce Out-Of-School in the state.

He made the pledge during a two-day regional stakeholders meeting on out-of-school children and retention, transition as well as completion models in Bauchi, Gombe and Adamawa states.

According to him, any moment the bill is sent to the state House of Assembly from the Executive, the lawmakers would expedite actions to ensure that the bill is passed within three to four weeks.

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He said: “Based on the law making, we are going to enact this particular law on the domestication of the Bauchi state framework to reduce Out-of-School children bill within three to four weeks from the day of reception from the Executive Arm.

READ ALSO: Bill On Unemployment Benefit Scales Second Reading

“Our governor has been very cooperative and supportive on this particular issue of out of school children because it is a serious menace.

“As an academic, I’m not always happy anytime I hear the word Out-of-School children.

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“That is why it’s not going to be a big deal in the Bauchi state House of Assembly to enact the state framework to reduce Out-of-School children in the state.

“In three weeks time In-Sha-Allah, we are going to pass into Bill this State Framework to reduce Out-of-School children in the state”.

READ ALSO: EFCC Grills Six Senior NSCDC Officers Over N6bn Fraud

Also speaking, Mr Raphael Aiyedipe, Education Officer, UNICEF Bauchi Field Office, said that the Universal Basic Education Commission (UBEC) had developed a National Framework of Action to Reduce Out-of-School Children and drive access to education in the country.

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According to him, the framework commits to substantially and systematically decrease the number of Out-of-School children in Nigeria by 2030.

He highlighted some of the objectives of the framework to include; improve access and quality of education for all Nigerian children, drive improvement in learning and relevant skills development.

Others, he said, were to accelerate the social and economic development of communities and the country at large.

READ ALSO: NLC, TUC Give NERC Deadline To Reverse Hike In Electricity Tariff

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The Framework has 5 thematic areas that includes; political actors and this means gaining the political will and government commitment.

“Best practices and alternative pathways and this translates to defeating learning poverty, Community accountability, that is engaging stakeholders to build ownership.

“Technology and ICT which means improving access through innovative solutions and Financing mechanisms, that is, reaching the most vulnerable,” he explained.

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EFCC Trial: ‘Even The Prophets Went To Prison’ – Buhari’s Minister Comforts Self In Court

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A former Minister of Aviation, Hadi Sirika, standing trial for an alleged N7.2bn fraud, said he was ready to go to prison just like the prophets.

Sirika, his daughter, and three others were arraigned at a Federal Capital Territory High Court on Thursday on a six-count amended criminal charge before Justice Sylvanus Oriji.

A video of the ex-minister speaking in court with his lawyers surfaced on X on Thursday.

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In the video, Sirika, dressed in cream Babariga, could be heard saying, “It’s okay. Fatima, it’s okay,” while comforting his daughter.

READ ALSO: Cleric Sets Wife’s House Ablaze For Allegedly Refusing To Participate In Late Night Prayer

He continued, “Even prophets have gone (to prison). Those that went, haven’t they finished theirs already?…whatever Allah says”

The Economic and Financial Crimes Commission had accused the ex-minister, his daughter, son-in-law and Al-Duraq Investment Limited, of fraud in connection with the botched Nigerian Air project.

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Meanwhile, the court granted each of the defendants bail in the sum of N100m with two sureties each.

Before the trial judge, Justice Sylvanus Orji granted the bail request of the defendants, they pleaded not guilty to all the charges preferred against them after it was read out to them.

The prosecution counsel, Rotimi Jacobs SAN, had informed the court of an amended charge by the EFCC dated May 7, and filed on May 8, which was not opposed by the counsel for the defendants.

READ ALSO: Bill On Unemployment Benefit Scales Second Reading

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Sirika’s lead counsel, Kanu Agabi (SAN), informed the court of his client’s bail application dated May 6.

The other defendants similarly, moved their bail applications and prayed the court to be liberal in the bail conditions.

Jacobs, on his part, told the court that all the defendants were on administrative bail and asked the court to grant bail on the condition that would make them appear for their trials.

Apart from the N100m bail, Justice Osuji added that one of the sureties must own a landed property with valid land titles in like sum within the Federal Capital Territory.

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The judge also held that the sureties must depose to an affidavit of means while he barred the defendants from travelling outside the country without its permission.

He added that failure to fulfil the bail conditions would earn the defendants a stay in a correctional facility.

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Tiktok Bans Nigerian Content Creator’s Account After Completing 24-hour Buried-alive Challenge [VIDEO]

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Nigerian man, Young C, has been successfully exhumed after spending 24 hours buried alive in a coffin.

Young C began the challenge on Wednesday, May 8 and has completed it.

At several intervals, Young C gave updates from inside the coffin.

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His challenge however led to TikTok permanently banning his account.

READ ALSO: VIDEO: Nigerian Man Exhumed After Completing 24-hour Buried Alive Challenge

After he was ‘’exhumed’, he cautioned viewers against attempting similar stunts due to the inherent dangers involved.

Watch a video of him being exhumed below

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