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NDIC Warns Nigerians Against Investing With Illegal Fund Managers

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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.

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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.

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

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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.

”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.”

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Okpebholo Announces ‘Massive’ Youth Recruitment Into Edo Civil Service

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Governor Monday Okpebholo of Edo State has announced plans to recruit youths into the state civil service.

Speaking at the All Progressives Congress campaign rally in Irrua, Esan Central Local Government Area, ahead of the August 16, 2025, Edo Central Senatorial by-election, the governor said it’s part of his administration’s effort to combat unemployment and accelerate Edo’s development.

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He expressed his passion for his people and an unwavering commitment to building a better future.

READ ALSO: JUST IN: Okpehbolo Suspends His Special Adviser On Oil And Gas

Unveiling his new civil service recruitment plan, the governor disclosed that he had instructed the Secretary to the State Government, Musa Ikhilor, to begin the process without delay.

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“We are going to massively employ our young people,” he affirmed. “Creating opportunities for our youths is the greatest investment we can make for the future of Edo.”

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Edo Govt To Open Up Riverine Communities For Development — Deputy Gov

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The deputy governor of Edo state, Hon Dennis Idahosa, has said that the Monday Okpebholo-led administration will open up riverine communities in the state for sustainable development.

According to a statement signed by his Chief Press Secretary, Friday Aghedo, Idahosa stated this at Inikorogha in Ovia South West Local Government Area of the state during the All Progressives Congress (APC) campaign rally for Saturday’s Ovia Federal Constituency by-election.

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He told the gathering that the new administration led by Okpebholo is keen to see development across the nook and cranny of the state.

He said all that was needed from the people was support and for them to be patient with the nine month old government that hit the ground running immediately after inauguration.

READ ALSO: By-Election: APC Correcting PDP 8 Years Of Underdevelopment In Edo, Days Idahosa

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Idahosa described the Inikorogha community as a peace loving people that had always supported him politically and otherwise.

The deputy, who was adorned by the community in their traditional regalia said, “I have always seen myself as one of your own even before your acceptance of me with this traditional attire.”

All I need from you is massive votes in support for the APC candidate and our governor on Saturday,” he appealed.

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He assured the community that the APC candidate is going to continue with the good work he put up as the representative before his election as deputy governor.

READ ALSO: By-Election: APC Round Off Campaign In Ovia North East LGA, Optimistic Of Victory

Our candidate, Omosede Igbinedion, is not a neophyte in the business of lawmaking. The party chose her because we are sure of her capacity to deliver.”

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While addressing the people, the APC candidate promised to synergise with the deputy governor to bring laudable projects to Ovia federal constituency.

Simirlarly, a chieftain of the party in the community, Ambassador Okubo Robert promised delivery of 100 percent votes for the party.

He noted that the Inikorogha community had always supported the APC in every elections, adding that Saturday’s bye-election will not be any different.

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How Terrorist Leader, Abubakar Abba, Was arrested – Niger Govt

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The Niger State Government has revealed how terrorist leader, Abubakar Abba, was arrested by the Department of State Service in the state.

Abba was the leader of the Mahmuda terror groups, which pitched its tent and operated in Niger and Kwara states.

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He was captured in Wawa, the Borgu Local Government Area of Niger State.

Governor Mohammed Bago’s Chief Press Secretary, Bologi Ibrahim, on Wednesday announced Abba’s arrest in a statement in which he said the terror kingpin had been moved to the nation’s capital, Abuja, for further investigation.

READ ALSO:NIMC Announces Upgrade Of NIN Enrolment Portal For Nigerians In Diaspora

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Yes, it is true. I can confirm that the leader of Mahmuda, which is one of the most dangerous terror groups in West Africa, Abubakar Abba, has been arrested by the DSS.

“He was apprehended alive through an intelligence-led operation by the DSS.

“This is a huge victory for us as a people and as a government, and President Tinubu deserves commendation for this cheering news.

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“Abba’s arrest demonstrates the commitment of President Bola Ahmed Tinubu to truly ending insecurity and promoting the well-being of Nigerians,” Ibrahim said.

Mahmuda, an offshoot of the deadly Boko Haram terror group, was also believed to have ties with the Islamic State and was responsible for a series of attacks across Kwara and Niger states.

READ ALSO:SERAP, NGE Drag Niger Gov, NBC To Court Over Radio Station Closure Threat

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The terror group had reportedly launched two attacks in one day in Kwara state on June 3—first killing three villagers in the morning and then four more in the evening, and leaving the community in mourning.

Mahmuda’s foot soldiers, usually clad in camouflage and often riding on motorcycles, continued their rampage, with at least three villagers killed in a fresh assault.

This indicated the group’s sustained threat.

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A recent large-scale attack in Kwara reportedly resulted in the killing of seven residents, while several others were abducted.

The terror group had also reportedly struck numerous villages near Kainji Lake National Park while a market in Kwara was also attacked, killing four Fulani men, a local guard, and a 19-year-old bystander.

READ ALSO:Presidency In Nigeria Should Be Five-year Single Tenure — Peter Obi

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Another attack killed 15 vigilantes in Kemanji village.

The Mahmuda terror group reportedly established bases in forested areas linking Niger, Nasarawa, Kwara, and Kogi states.

It carried out activities including illegal mining, forced labour and extortion of herders and farmers.

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Meanwhile, the Niger State governor has applauded the DSS operation as a strong demonstration of President Bola Tinubu’s commitment to the safety and welfare of Nigerians.

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