Connect with us

News

NDIC Warns Nigerians Against Investing With Illegal Fund Managers

Published

on

The Nigeria Deposit Insurance Corporation (NDIC) has warned Nigerians against investing in illegal fund management platforms across the internet.

The financial institution said it has become expedient to warn the public about the proliferation of illegal platforms promising excessive returns on investments.

A statement signed by NDIC’s Director, Communication and Public Affairs, Bashir A. Nuhu, said it has become necessary to warn and protect unsuspecting depositors following the increase in illegal fund managers who use different platforms to solicit public investment.

Advertisement

The NDIC also debunked claims by some illegal fund managers that depositors’ investments are insured by NDIC, warning that the federal financial agency only has an obligation to agencies licensed by the CBN.

READ ALSO: Nigeria’s Economy On Brink Of Collapse, NECA Raises Alarm

The statement warned, “The NDIC insures only deposits of financial institutions licensed by the Central Bank of Nigeria (CBN) to accept deposits from the public.

Advertisement

”To confirm whether a financial institution is covered by the deposit insurance scheme of the NDIC, please visit our website to see who we cover.

”Members of the public are also advised to report any entity suspected to be involved in illegal deposit mobilization to the law enforcement agencies.”

Advertisement

News

How I Nearly Abandoned Presidential Library Project – Obasanjo

Published

on

Former President Olusegun Obasanjo has revealed that he almost abandoned the construction of the Olusegun Obasanjo Presidential Library, but was encouraged to complete it through the persistence of late Prof Akinlawon Mabogunje.

Obasanjo disclosed this at the launch of the Prof. Akinlawon Ladipo Mabogunje Foundation and the second public lecture held in Mabogunje’s honour at the Nigerian Institute of International Affairs, Victoria Island, Lagos.

The Olusegun Obasanjo Presidential Library in Abeokuta, the Ogun State, was inaugurated on March 4, 2017, as part of programmes to celebrate the 80th birthday of the former president.

Advertisement

The library is reputed to house over 42 million books, documents and archival materials, including the former president’s primary school uniform, shoes, military uniform, his first car and other personal belongings.

Obasanjo recalled how he nearly gave up on the presidential library project, which sits on 32 hectares and is valued at about $150m before its completion in 2017.

READ ALSO:Obama Honours Fela Kuti In New Podcast ‘Fear No Man’

Advertisement

Obasanjo said, “When I thought a little unfortunately about the presidential library, at one location I went to him (Mabogunje) quietly and said, ‘Look, this library has become beyond what I expected.’ He asked what I wanted to do about it, and I said I wanted to stop it. He told me I dared not.”

Obasanjo added that the library’s completion was due largely to Mabogunje’s encouragement and that of other trustees.

“If that library is standing today, it was the encouragement and the fear that Akin and my friends on the Board of Trustees instilled in me that I dared not stop it,” he said.

Advertisement

Obasanjo, at the event held on Saturday, also described the late Mabogunje as a man who exemplified community spirit and service.

He (Mabogunje) served this country meritoriously in every capacity he was called upon,” Obasanjo said.

The former president, who was the Special Guest of Honour at the event, described the late Mabogunje as a nation-builder and intellectual giant, whose wisdom shaped major national policies, including the creation of the Federal Capital Territory, Abuja.

Advertisement

READ ALSO:What I Found Out About Boko Haram — Obasanjo

Obasanjo added, “Akin was a geographer, and in that regard, he helped my administration. When we were trying to establish a new capital territory, Abuja, his knowledge and profession were brought to bear. So, when you call him a nation-builder, you are absolutely right.”

He added, “There is no government before or after me that called on Akin and he did not help, even some governments that I personally didn’t feel encouraged to assist.”

Advertisement

The PALM Foundation, according to Vice Chancellor, University of Lagos, Prof Folasade Ogunsola, will preserve Mabogunje’s legacy through lectures, scholarships, and digital repositories of his works, while also inspiring a new generation of thoughtful leaders.

The UNILAG VC, who is Mabogunje’s first child, said the foundation was established to sustain her father’s legacies of scholarship, patriotism, and integrity.

Ogunsola said, “One of the major reasons we set up this foundation is not just his scholarship but also his character and patriotism towards Nigeria. Through his mentorship, he taught us that true development is not about bricks and mortar.”

Advertisement

READ ALSO:

Mabogunje died on August 4, 2022, aged 90.

The event, which also marked Mabogunje’s third posthumous birthday, attracted dignitaries including the Chairman of the Federal Civil Service Commission, Dr Tunji Olaopa; Pro-Chancellor of the University of Lagos, Chief Wole Olanipekun (SAN); and Vincent Maduka, who chaired the occasion.

Advertisement

Also speaking, a former Ondo State governor, Dr Olusegun Mimiko, recalled how Mabogunje’s mentorship guided him during his unexpected appointment as Minister of Housing and Urban Development in 2005 under Obasanjo’s administration.

“When Obasanjo appointed me Minister for Housing and Urban Development in 2005, there was a vacancy in the Ministry of Health, so I thought I would be posted there,” Mimiko said.

“After the swearing-in, I went to him (Obasanjo) and said, ‘Sir, I hardly know the difference between a duplex and a bungalow. What do you want me to do in housing?’ I went to my mentor, Professor Ladipo Akinkugbe, who told me not to worry and sent someone to Professor Mabogunje. The following day, he (Mabogunje) called me,” he added.

Advertisement

Mimiko described Mabogunje as a source of knowledge and inspiration, saying, “He taught me that any government policy that does not take into account people’s impact is not worth any policy. I learned so much from him.”

READ ALSO:Provide Evidence Of My Third Term Ambition’, Obasanjo Challenges Nigerians

The keynote speaker, Prof. Isaac Olawale Albert of the University of Ibadan, described Mabogunje as Africa’s first professor of Geography and a pioneer in shaping Nigeria’s real estate and urban development sectors.

Advertisement

Delivering his lecture titled “Akin Mabogunje’s Intellectual Leadership in Multidisciplinary Urban Studies,” Albert said, “His intellectual leadership was a testament to the power of integrative thinking and a lifelong commitment to addressing the challenges of urbanisation.”

Albert highlighted Mabogunje’s role in conceptualising Abuja and his advocacy for sustainable, inclusive city planning.

“His approach challenges policymakers to foster equitable, sustainable cities that work for all citizens, addressing informality, housing shortages and urban poverty in a holistic manner,” he noted.

Advertisement

Born on October 18, 1931, Mabogunje became Africa’s first Professor of Geography at 34 and went on to serve as President of the International Geographical Union.

He was also the first African elected as an International Member of the United States National Academy of Sciences.

 

Advertisement
Continue Reading

News

FG, EU Unveil $220m Youth Employment Initiative

Published

on

The Federal Government has unveiled a $220 million employment initiative aimed at tackling youth unemployment and expanding job opportunities for young Nigerians.

The programme, known as the Nigeria Jubilee Fellows Programme 2.0, seeks to empower graduates through structured work placements, skills development, and mentorship.

Vice President Kashim Shettima announced the launch on Wednesday at the Presidential Villa in Abuja.

Advertisement

He noted that the initiative will be implemented in collaboration with the European Union and the United Nations Development Programme, as part of a broader strategy to equip young Nigerians with the tools needed to thrive in today’s workforce.

READ ALSO:FG To Disburse ₦6.3bn Interest-free Loans To 21,000 Flood Victims

According to him, the programme is designed to connect high-potential graduates with practical work experience, training, and mentorship, equipping them with the skills needed to thrive in the job market.

Advertisement

Shettima described the initiative as a strategic step towards addressing the unemployment crisis among Nigerian youths, stressing that the government is committed to empowering a generation capable of driving innovation, productivity, and inclusive growth.

“Our goal is to bridge the transition gap between learning and earning for thousands of young Nigerians, graduates who have the education, but not always the opportunity,” the Vice President stated.

He added that the NJFP 2.0 builds on the success of the first phase, which provided paid work placements and mentorship opportunities for several young professionals across public and private sectors.

Advertisement

READ ALSO:FG Approves New NYSC Mandatory Regulations

The Nigeria Jubilee Fellows Programme represents hope, hope that no young person will be left behind because of a lack of opportunity,” Shettima said.

It is our pledge to build a nation where talent meets purpose, and where learning translates into livelihood,” he added.

Advertisement

The Vice President commended the EU and UNDP for their continued partnership in advancing youth empowerment and national development, adding that the collaboration reflects a shared vision of creating inclusive economic opportunities for Africa’s largest youth population.

Also speaking, the Minister of Youth Development, Ayodele Olawande, described the NJFP 2.0 as a continuation of the Federal Government’s success in youth empowerment.

READ ALSO:I Apologise For Mutilating You, Let’s Reconcile, Former FGM Tells Estranged Daughter

Advertisement

He noted that since the programme began in 2021, it has helped over 13,000 youths to gain skills.

The minister assured that the initiative will build on its progress and achieve its long-term goal of placing 100,000 youths in jobs within five years.

The Resident Representative of the United Nations Development Programme in Nigeria, Ms Elsie Attafuah, said the generous funding from the EU and implementation support from the UNDP, over the years, are aimed at connecting potential to opportunity.

Advertisement

She noted that the vision behind the NJFP has come to light, resulting in over 40,000 Nigerians being placed in various economic sectors.

She stressed that millions of Nigerians need the NJFP platform to thrive in today’s economy.

The European Union Ambassador to Nigeria, Gauthier Mignot, said the EU was looking forward to seeing the NJFP 2.0 programme integrated into Nigeria’s governance agenda to ensure its sustainability

Advertisement
Continue Reading

News

Tinubu Approves Tenure Extension For Surveyor-General

Published

on

President Bola Tinubu has approved a two-year tenure extension for the Surveyor-General of the Federation, Mr. AbuduGaniyu Adebomehin.

The move is aimed at consolidating ongoing reforms in Nigeria’s geospatial data systems and national land administration, Special Adviser to the President on Information and Strategy, Bayo Onanuga, revealed in a statement released on Wednesday.

The extension will take effect from January 5, 2026, and follows the recent transfer of the Office of the Surveyor-General of the Federation to the Presidency.

Advertisement

The transfer places geospatial intelligence and national surveying operations directly under the executive arm.

READ ALSO:Brigadier-General, Other Officers Detained Over Alleged Coup Plot To Overthrow President Tinubu

Adebomehin’s two-year extension will see him serve until January 2028.

Advertisement

According to Onanuga, “The President expects Mr Adebomehin to consolidate the reforms within the next two years, focusing on national land management and administration, highways and abutting land infrastructure coordination, reclamation and erosion control programmes, and other related matters of strategic national importance.”

Adebomehin was appointed the Surveyor-General of the Federation by the late President Muhammadu Buhari, effective January 5, 2022.

Advertisement
Continue Reading

Trending