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Heritage Bank: NDIC Vows to Deal with Debtors, Pay Uninsured Depositors, Others

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By Tony Obiechina, Abuja

 The Nigeria Deposit Insurance Corporation (NDIC) has commenced the process of recovering loans acquired by debtors of the recently liquidated Heritage Bank as part of moves to pay uninsured depositors of the bank.

The Managing Director of the NDIC, Bello Hassan, disclosed this during the 2024 NDIC Editors Forum held in Lagos at the weekend.

Themed “Strengthening Nigeria’s Financial Safety-Net: The Role of Deposit Insurance,” the forum focused on enhancing public trust and promoting financial stability.

Aside from paying the depositors who had more than the insured five million naira with the bank before its liquidation, Hassan said the Corporation would also ensure that the creditors of the bank are paid.

According to the Managing director, “The Corporation has already initiated the process of debt recovery and realization of investments as well as fiscal assets of the defunct bank to ensure timely payment to the uninsured depositors of the defunct bank”.  Recall that the Central Bank of Nigeria (CBN) recently revoked the licence of Heritage Bank Plc, citing the bank’s persistent financial instability and breach of regulatory requirements.

The decision was part of the CBN’s mandate to maintain a sound financial system in Nigeria, as outlined under Section 12 of the Banks and Other Financial Institutions Act (BOFIA) 2020.

Hassan, who was represented by NDIC Executive Director of Operations, Mustapha Ibrahim, pointed out that while the Corporation succeeded in paying most of the Bank’s insured depositors within four days after the liquidation, it is facing some challenges in paying some of them.

According to him, several issues such as lack of Bank Verification Number (BVN) by the depositors, restriction on accounts, and lack of alternate bank accounts, among others have caused the delays in paying those depositors.

He said the corporation is working seriously to resolve these challenges to ensure that depositors are promptly paid.

“I would like to seize this opportunity to emphasize the importance for depositors to ensure strict compliance with all KYC regulations as prescribed by the Central Bank of Nigeria.

“This will not only promote hitch-free transactions with their banks, but it will also go a long way in ensuring prompt reimbursement in the event of bank closure,” he said.

Following the revocation of the Heritage Bank’s licence on June 3, the NDIC announced in August that it had successfully paid 82.36% of the total insured deposits to customers of the Bank.

In a statement by Bashir Nuhu, Director of Communication & Public Affairs, the NDIC confirmed that it has successfully initiated payments to depositors, with a maximum of N5m per depositor being disbursed.

The milestone he explained was achieved within just four days of the bank’s closure, utilizing Bank Verification Numbers (BVN) to locate depositors’ alternative accounts in other banks.

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TEXT OF THE BROADCAST BY PRESIDENT BOLA AHMED TINUBU, COMMANDER-IN-CHIEF OF THE ARMED FORCES, DECLARING STATE OF EMERGENCY IN RIVERS STATE ON TUESDAY 18 MARCH 2025

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Fellow Nigerians, I feel greatly disturbed at the turn we have come to regarding the political crisis in Rivers State.

Like many of you, I have watched with concern the development with the hope that the parties involved would allow good sense to prevail at the soonest, but all that hope burned out without any solution to the crisis.

 With the crisis persisting, there is no way democratic governance, which we have all fought and worked for over the years, can thrive in a way that will redound to the benefit of the good people of the state.

The state has been at a standstill since the crisis started, with the good people of the state not being able to have access to the dividends of democracy.

Also, it is public knowledge that the Governor of Rivers State for unjustifiable reasons, demolished the  House of Assembly of the state as far back as 13th December 2023 and has, up until now, fourteen (14) months after, not rebuilt same. I have made personal interventions between the contending parties for a peaceful resolution of the crisis, but my efforts have been largely ignored by the parties to the crisis. I am also aware that many well-meaning Nigerians, Leaders of thought and Patriotic groups have also intervened at various times with the best of intentions to resolve the matter, but all their efforts were also to no avail. Still, I thank them. 

On February 28, 2025, the supreme court, in a judgment in respect of about eight consolidated appeals concerning the political crisis in Rivers State, based on several grave unconstitutional acts and disregard of rule of law that have been committed by the Governor of Rivers State as shown by the evidence before it pronounced in very clear terms:

“a government cannot be said to exist without one of the three arms that make up the government of a state under the 1999 Constitution as amended. In this case the head of the executive arm of the government has chosen to collapse the legislature to enable him to govern without the legislature as a despot. As it is there is no government in Rivers State.”

The above pronouncement came after a catalogue of judicial findings of constitutional breaches against the Governor Siminalayi Fubara.

Going Forward in their judgment, and having found and held that 27 members of the House who had allegedly defected

“are still valid members of Rivers State House of Assembly and cannot be prevented from participating in the proceedings of that House by the 8th Respondent (that is, the Governor) in cohorts with four members”

The Supreme Court then made some orders to restore the state to immediate constitutional democracy.  These orders include the immediate passing of an Appropriation Bill by the Rivers State House of Assembly which up till now has not been facilitated.

Some militants had threatened fire and brimstone against their perceived enemy of the governor who has up till now NOT disowned them.

Apart from that both the House and the governor have not been able to work together.

Both of them do not realise that they are in office to work together for the peace and good governance of the state.

The latest security reports made available to me show that between yesterday and today there have been disturbing incidents of vandalization of pipelines by some militant without the governor taking any action to curtail them. I have, of course given stern order to the security agencies to ensure safety of lives of the good people of Rivers State and the oil pipelines.

With all these and many more, no good and responsible President will standby and allow the grave situation to continue without taking remedial steps prescribed by the Constitution to address the situation in the state, which no doubt requires extraordinary measures to restore good governance, peace, order and security.

In the circumstance,  having soberly reflected on and evaluated the political situation in Rivers State and the Governor and Deputy Governor of Rivers State having failed to make a request to me as President to issue this proclamation as required by section 305(5) of the 1999 Constitution as amended, it has become inevitably compelling for me to invoke the provision of section 305 of the Constitution of the Federal Republic of Nigeria, 1999 as amended, to declare a state of emergency in Rivers State with effect from today, 18th  March, 2025 and I so do.

By this declaration, the Governor of Rivers State, Mr Siminalayi Fubara, his deputy, Mrs Ngozi Odu and all elected members of the House of Assembly of Rivers State are hereby suspended for an initial period of six months.

In the meantime, I hereby nominate Vice Admiral Ibokette Ibas (Rtd) as Administrator to take charge of the affairs of the state in the interest of the good people of Rivers State. For the avoidance of doubt, this declaration does not affect the judicial arm of Rivers State, which shall continue to function in accordance with their constitutional mandate.

The Administrator will not make any new laws. He will, however, be free to formulate regulations as may be found necessary to do his job, but such regulations will need to be considered and approved by the Federal Executive Council and promulgated by the President for the state.

This declaration has been published in the Federal Gazette, a copy of which has been forwarded to the National Assembly in accordance with the Constitution. It is my fervent hope that this inevitable intervention will help to restore peace and order in Rivers State by awakening all the contenders to the constitutional imperatives binding on all political players in Rivers State in particular and Nigeria as a whole.

Long live a united, peaceful, secure and democratic Rivers State in particular and the Federal Republic of Nigeria as a whole.

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Tuberculosis: FG Allocates N700b to Fight Tuberculosis, Malaria, HIV – NASS

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By Laide Akinboade, Abuja

In order to address the challenges of Tuberculosis, TB, Malaria, Human Immunodeficiency virus, HIV, Acquired Immunodeficiency syndrome, AIDs, the National Assembly, NASS, on Tuesday, said, it has allocated N700 billion .

The Chairman of the House Committee on HIV/AIDS, Tuberculosis, and Malaria, Hon.
Amobi Godwin Ogah, disclosed this during a pre-World TB Day press conference on Tuesday in Abuja.
The theme for this year’s World TB Day, is “Yes, We Can End TB: Commit, Invest, and Deliver”.He commended President Bola Ahmed Tinubu administration for allocating the money and for prioritizing health funding, especially following the recent withdrawal of U.
S. financial support for HIV/AIDS, tuberculosis, and malaria programs in Nigeria.According to him, “This allocation is a game-changer in our efforts to eradicate TB and other deadly diseases in Nigeria. “This is a wake-up call for us as a nation to take full responsibility for our healthcare system and ensure that funds meant for intervention programs are judiciously utilized,” he added.Nigeria remains the country with the highest TB burden in Africa, with an estimated 499,000 new cases annually, according to the 2024 Global TB Report. The disease, which is airborne and preventable, continues to claim thousands of lives due to inadequate detection and treatment coverage. Ogah emphasized that one untreated TB patient can infect up to 15 others in a year, underscoring the urgent need for increased screening and treatment initiatives.He continued, “The House Committee on HIV/AIDS, Tuberculosis, and Malaria is also pushing for legislative measures to strengthen Nigeria’s TB response.” Plans are underway to establish a private-sector-driven trust fund for TB, similar to those for HIV and malaria. Additionally, the committee is advocating for the Global Fund to increase its TB funding allocation from the current 18% to at least 30%. “We will also ensure the passage of a law that protects TB patients from discrimination and stigmatization,” he stated.To accelerate progress, Nigeria is scaling up the deployment of digital X-ray machines with artificial intelligence capabilities for TB screening, particularly in underserved communities. Other measures include integrating TB services into maternal and child healthcare programs, strengthening community engagement, and launching nationwide awareness campaigns to reduce stigma.Ogah warned, “This N700 billion must be fully accounted for, and we will not tolerate any mismanagement or diversion of these critical resources,” he warned.He urged all stakeholders, including private sector partners and civil society organizations, to work together in achieving the goal of eliminating TB in Nigeria by 2030. “If we commit, invest, and deliver, we can end TB in Nigeria. The time to act is now,” Ogah concluded.Also, Dr. Godwin Ntadom, Director of Public Health at the federal Ministry of Health and Social Welfare, said 499,000 Nigerians developing Tuberculosis in 2023.He said it is imperative for the nation to increase its efforts to combat tuberculosis in Nigeria. He said, “The disease drives many families into poverty, exacerbated by malnutrition, overcrowding, and limited access to quality healthcare. One untreated TB patient can infect up to 15 people in a year, highlighting the urgency of early detection and treatment.”Despite progress, with 79% of TB cases identified in 2024 receiving treatment, a significant number of TB patients remain undetected, contributing to ongoing transmission in communities”. Dr. Ntadom noted a worrisome trend in the rise of multidrug-resistant TB cases, stressing the importance of strategic interventions. “The government is prioritizing targeted screening, improving access to diagnostic tools, and strengthening preventive measures, particularly among children.”To combat TB, the Federal Government is leveraging digital health solutions, deploying over 300 digital X-ray machines with artificial intelligence to support community-based screening. Other initiatives include massive awareness campaigns, improved social protection programs for TB patients and their families, and increasing community engagement through collaboration with traditional and religious leaders. Dr. Ntadom emphasized the need for collective efforts to expand access to treatment, reduce stigma, and ensure sustainable domestic financing for TB control, he said. .According to Dr. Labaran Shehu, National Coordinator of the National Tuberculosis,Leprosy, and Buruli Ulcer Control Program, said “Nigeria remains one of the world’s highest-burden countries for tuberculosis (TB), contributing 20% of the cases in Africa in 2023. He disclosed that Nigeria recorded approximately 499,000 TB cases last year, with an alarming mortality rate of 71,000 deaths—18% of TB-related deaths across the continent. He emphasized that every hour, eight Nigerians die from tuberculosis, highlighting the urgent need for strengthened intervention and awareness.Dr. Shehu lamented that, despite the fact that TB is preventable and curable, public knowledge about the disease remains low. Findings from a recent national survey showed that 64% of Nigerian women and 70% of men are unaware of TB or hold incorrect beliefs about it. The financial burden on TB patients is also severe, with 71% experiencing catastrophic costs—spending over 20% of their household income on treatment—while 23% reported selling their properties to cover medical expenses. He stressed that TB is no longer a “disease of the poor,” as it can spread within households through close contact with infected individuals.He said, Funding for TB control remains grossly inadequate, with only 30% of the required budget available in 2023. He therefore called for increased domestic financing, stressing that relying on international aid is unsustainable. However, he noted that Nigeria has made some progress, expanding TB testing facilities and deploying over 370 portable digital X-ray machines to enhance early diagnosis. While the country’s TB case detection gap has reduced from 76% in 2017 to 40% in 2022 and 53% in 2023, Shehu urged stakeholders, including the media, to intensify advocacy efforts to close the gap and accelerate Nigeria’s fight against TB.In her welcome address, Dr. Queen Ogbuji-Ladipo, Acting Board Chair of Stop TB Partnership Nigeria, has called for stronger commitments from policymakers and increased healthcare financing to accelerate tuberculosis (TB) eradication. She highlighted recent innovations, such as shorter treatment regimens and digital adherence technologies, as crucial steps toward eliminating TB in Nigeria but stressed the need for sustained efforts.She outlined key achievements in 2024, including the investiture of Nigeria’s First Lady as the Global Stop TB Champion and the commitment of governors’ wives as state-level champions. Advocacy efforts, have led to significant resource mobilization, with the federal government and private sector pledging $50 million for TB initiatives.She said, “Additionally, the organization secured TB diagnostic tools, including 25 TB LAMP devices from the Nigerian Navy and 50 more from private donors, alongside increased budgetary allocations for TB control in states like Kebbi.”The Pre-World TB Conference also serves as a platform to drive engagement ahead of World TB Day, with a focus on policy reforms, service integration, and enhanced domestic funding. Dr. Ogbuji-Ladipo urged stakeholders to push for stronger policies and innovative initiatives that improve TB prevention, detection, and treatment. “Our collective action is the key to making Nigeria TB-free. Yes, we can end TB. We fit do am!” she concluded, rallying continued support and advocacy

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Tinubu Declares State of Emergency in Rivers

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President Bola Tinubu has declared a state of emergency in Rivers following the lingering political crisis in the state.

The President made the declaration in a national broadcast on Tuesday.He said it had become compelling for him to invoke the provision of section 305 of the Constitution of the Federal Republic of Nigeria, 1999 as amended, to declare a state of emergency in Rivers with effect from March 18.
“By this declaration, the Governor of Rivers, Mr Siminalayi Fubara, his deputy, Mrs Ngozi Odu and all elected members of the House of Assembly of Rivers are hereby suspended for an initial period of six months.
“In the meantime, I hereby nominate Vice Admiral Ibokette Ibas (Rtd.) as Administrator to take charge of the affairs of the state in the interest of the good people of Rivers State,” Tinubu said.
He, however, said that for the avoidance of doubt, the declaration did not affect the judicial arm of the state, which shall continue to function in accordance with their constitutional mandate.“The Administrator will not make any new laws.‘He will, however, be free to formulate regulations as may be found necessary to do his job, but such regulations will need to be considered and approved by the Federal Executive Council and promulgated by the President for the state.“This declaration has been published in the Federal Gazette, a copy of which has been forwarded to the National Assembly in accordance with the Constitution.“It is my fervent hope that this inevitable intervention will help to restore peace and order in Rivers State .“It will awaken all the contenders to the constitutional imperatives binding on all political players in Rivers State in particular and Nigeria as a whole,” he said. (NAN)

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