POLITICS
NASS Pledges Support for Robust Financial System
Mr Ahmed Jaha, Chairman of the House of Representative Committee on Insurance and Actuarial Matters has reaffirmed the Federal Government’s dedication to upholding a stable financial system.
He said this at a retreat organised by the Nigerian Deposit Insurance Corporation (NDIC) for members of the 10th Assembly on Wednesday in Lagos.
Reports says that the meeting has the theme, “Maintaining a Resilient and Stable Banking System: The Role of NDIC”.
Jaha pledged the committee’s commitment to taking proactive steps toward a more robust and secure financial system in Nigeria, with a strong focus on protecting the interests of depositors.
Jaha said, “with a significant number of new members, comprising over 75 per cent of the committee in the 10th Assembly, there is a pressing need for these representatives to gain a comprehensive understanding of the intricacies of the insurance sector.
The retreat, he said, would equip members with the knowledge required to contribute meaningfully to the sector’s advancement, particularly in ensuring the safety of depositors’ funds.
Jaha added, “As the Chairman of the House Committee on Insurance and Actuarial Matters, I am deeply committed to the advancement and oversight of the insurance and banking sectors in our country.
“I believe that the stability and resilience of our banking system are fundamental to the overall economic well-being of Nigeria.
“The role of NDIC in safe guiding the interests of depositors, maintaining financial stability, and promoting public confidence in the banking sector cannot be overstated.
“It is therefore imperative that we, as representatives of the people, engage in meaningful discussions and collaborations with the NDIC to ensure the effectiveness of this mandate.
“This retreat provides us with a valuable opportunity to engage in insightful discussions, share knowledge, to gain a deeper understanding of the challenges and opportunities facing the banking and insurance industry.
“By doing so, we can collectively develop informed policies and strategies that will promote a stable, resilient, and inclusive banking system for the benefit of all Nigerians.”
He also highlighted the committee’s commitment to a collaborative approach to financial stability in Nigeria.
He emphasised the importance of strong legal frameworks for financial safety net agencies and acknowledges their critical role in protecting consumers and fostering a resilient financial system.
Jaha underscored the importance of the NDIC, while emphasising the committee’s focused approach to acquiring knowledge and contributing meaningfully towards a shared goal.
According to him, this signifies a positive intention for improved collaboration and effective depositor protection within the Nigerian financial system.
He said, “NDIC as you are all aware, provides the safety of depositors funds and promotes depositors’ confidence in the financial system in the country.
“So, the committee is ready when given the required knowledge and development, to collaborate with NDIC to make sure that we have succeeded in achieving that.”
Furthermore, on the confidence on the banking sector, he said, “As far as we are concerned and as far as the effort of the NDIC, particularly in trying to protect depositors’ funds and various banks, I am optimistic that we will not have a lot of issues.
“From my understanding, NDIC is doing everything it takes to protect depositors’ funds in our various financial institutions.”
Earlier, Mr Bello Hassan, Managing Director/Chief Executive Officer NDIC, noted that the financial indicators affirmed the robustness of the banking system.
He reassured that depositors in banks, protected by NDIC, could have confidence in the safety of their funds.
“This theme is apt given the determination of the Federal Government toward achieving sustainable growth by strengthening the financial sector to boost economic growth.
“This falls in line with the corporations’ contribution to ensuring the stability of the financial system by effectively supervising the banking sector and safeguarding depositors’ funds from the adverse effects of bank failure.”
Speaking on the sidelines, Hassan added: “The banking system, today, in Nigeria is safe and sound.
“I’m saying this not out of sentiment, but looking at the financial soundness indicators, in terms of capital adequacy, the quality of earnings, and the quality of the assets.
“So, I can confidently say that the banking system in Nigeria today as we speak, is safe and sound and depositors can continue to patronise, licensed deposit-taking institutions that are fully insured by the NDIC.”(NAN)
The National Security Adviser (NSA), Malam Nuhu Ribadu, has demanded a retraction of election rigging allegation made against him by the chairperson of Edo chapter of the Peoples Democratic Party (PDP), Anthony Aziegbemi.
Aziegbemi had in a statement on Sept. 14, accused the Federal Government of planning to rig the upcoming Edo Governorship Election, using Ribadu and the Department of State Service (DSS).
He claimed that Ribadu had released 2 million U.
S Dollars to the APC governorship candidate in the election as part of the plot.In reaction to the allegation, Ribadu’s lawyers, Charles Musa & Co, described the allegation as “totally false” and demanded immediate retraction.
“We write on behalf of Mallam Nuhu Ribadu, National Security Adviser (NSA) of the Federal Republic of Nigeria (our Client), in response to your press statement titled “Edo 2024: presidency’s move to interfere, manipulate guber poll using DSS, NSA uncovered.”
“The publication falsely alleges, inter alia, that, “$2 million was ordered to be released to the APC candidate by the NSA to buy votes and bribe security agencies,” the letter said.
The lawyers said the malicious and libelous statement had brought their client into public disdain and odium.
According to them, the portrayal of their client as a corruption enabler and his office as an appendage of a political party willing to cause chaos in Edo, is entirely false and damaging to his reputation.
“As a renowned career police officer and pioneer Executive Chairman of the Economic and Financial Crimes Commission (EFCC), our Client has consistently demonstrated integrity and a commitment to fighting corruption.
“It is inconceivable that he would be involved in such odious acts.
“Given the extensive damage your false and baseless allegations have caused our client, we demand a written apology to our Client and a full retraction of the publication in its entirety.
“We also demand a publication of the retraction in a full-page advertorial in at least five nationwide newspapers; 10 reputable and well-read online news sites; seven national and international television stations, and 10 radio channels with national and international reach,” they said.
The lawyers also demanded payment of N10 billion as damages for reputational and other injuries.
“Take notice that if our demands are not met within seven days, we shall proceed with our Client’s further instructions, including taking legal action to enforce his rights,” they added. (NAN)
From Joseph Amedu, Lokoja
Kogi State Governor, Ahmed Usman Ododo has described the governorship candidate of the All Progressives Congress (APC) in the September 21 governorship election in Edo State as a true representation of the aspirations of the people of the state, promising to use his contacts and cultural ties with the people of Edo State to ensure the victory of the party and its candidate in the Edo governorship election.
Ododo made the declaration at the APC youth rally in Igarra, headquarters of Akoko-Edo Local Government Area at the weekend.
The Kogi State Governor who was received by the Deputy Governor of Edo State, Comrade Phillip Shaibu promised to galvanize support among the large population of youth and women in the area for the victory of the APC candidate in the September 21 governorship election.
He appealed to the people of Akoko-Edo to shun all acts of violence but to resist intimidation by defending their votes for the APC in the election.
He assured the people that the APC Governorship candidate, Senator Monday Okpebholo will replicate the outstanding performance of the past APC leadership in the state led by former Governor Adams Oshiomhole, stressing that the APC and its governorship candidate will deliver on their campaign promises by according topmost priority to the welfare of the people as currently being exemplified in Kogi State under his leadership.
Ododo who spoke in English and Ebira languages commended the people of Akoko-Edo for their peaceful conduct in the course of the campaign and assured that their support will be rewarded by the APC and its governorship candidate once the party emerges victorious in the September 21 governorship election.
Ododo has since arrived in Benin City, the Edo state capital ahead of the grand finale of the APC governorship campaign rally on Saturday where he is expected to address the rally along with other leaders of the party in the final push for the party’s victory in the Edo state governorship election.
From Dan Amasingha, Minna
Niger state governor, Mohammed Umaru Bago has expressed profound sadness over the death of Joseph Haruna Duza, the member representing Munya State Constituency and Chairman of the House Committee on Security and Intelligence.
In a condolence message statement by his Chief Press Secretary, Bologi Ibrahim, Governor Bago described the passing of the lawmaker as both shocking and a significant loss, not only to the people of Munya but to the entire state.
Bago highlighted Duza’s invaluable contributions and active role in combating insecurity within the state, as well as his unwavering dedication to its growth and development.
The Governor emphasised that only God can fill the void left by Duza’s demise.
Bago extended his heartfelt condolences to the Speaker of the Niger State House of Assembly, Barr. AbdulMalik Sarkin Daji, other members of the 10th State Assembly, the immediate and extended family of the deceased, and the people of Munya Local Government.
He urged them to accept Duza’s death as an act of God.
Bago prayed for the repose of Duza’s soul and for comfort for all those affected by this loss.
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