From Sylvia Udegbunam Enugu

Nigeria’s First Lady, Senator Oluremi Tinubu has been conferred with the chieftaincy title of “Ugosimba 1 Enugu” (Jewel/Eagle from another kingdom) by the Enugu State Traditional Rulers Council.She received the title on Tuesday during her two-day working visit to the South East state.

Conferring the title, alongside other officers, patrons and members of the Council, the Chairman of the Enugu State Traditional Rulers Council, HRM Igwe Ikechukwu Asadu, said the honour was in recognition of her love for Enugu State and service to the nation and humanity. “Our First Lady served in the senate for three consecutive terms and was honoured with the Commander of the Order of the Niger, CON. Nobody could say you were silent at the parliament.“The good news is the humanitarian part of you. We looked at the way you love Enugu State. We are thanking you for what you do for the midwives, for the nurses. Personally, I am a nurse too. I appreciate it when it comes to the less privileged, healing the sick, clothing the naked, feeding the hungry. So, we are here to recognise and appreciate all these good works you are doing. It’s only God that can pay you for your good work,” he said.An evidently elated Tinubu thanked the Government and people of the state for their overwhelming acceptance and love.She described Enugu as a peaceful state, saying that she felt inner peace since she arrived in the state capital on Monday.While also appreciating the royal fathers, she described the title as a special honour, not only to her, but also her husband, President Bola Tinubu and the entire family.“Thank you so much for all the support you have given. Today is indeed a great honour to me personally and also to my family. I love your state; it is such a very peaceful state and a very peaceful ambience.“I want to thank Your Majesties for this honour done to me and also to my husband as well; and I know he will be very delighted and I believe the children too will be delighted.“It is not that I have not been given titles, but this one is quite special and I believe it is God-ordained. And as you have honoured me today, Enugu State will know it for good.“This moment will remain special in my heart and I will always remember your people for good and for the honour you have done for me. And this is not the end because our tomorrow is here already,” she said.

By Tony Obiechina Abuja

The Nigeria Deposit Insurance Corporation (NDIC) has begun the final phase of liquidation for the defunct Premier Commercial Bank, initiating the payment of liquidation dividends to verified creditors, nearly 25 years after the bank’s closure.Premier Commercial Bank had its operating license revoked by the Central Bank of Nigeria (CBN) on December 20, 2000, following findings of financial instability and regulatory non-compliance.

Since then, the NDIC has overseen the bank’s liquidation process under a winding-up order from the Federal High Court, which designated the corporation as the official liquidator. The NDIC had invited all eligible creditors to visit any of its zonal offices between June 2 and June 27, 2025, to verify and claim their entitlements.This move marks a critical milestone in the final settlement of claims related to the bank’s collapse.To facilitate the verification process, creditors are required to present proof of deposit or shareholding, such as a passbook, chequebook, term deposit certificate, or bank statement.Additionally, valid identification documents must be submitted, including a driver’s license, international passport, national identity card, NIN slip/card, voter’s card, or a formal identification letter from a traditional ruler or local government chairman.The NDIC assured the public that the ongoing settlement is part of a broader effort to bring closure to longstanding claims resulting from Premier Commercial Bank’s liquidation. The process, according to the corporation, has been designed to ensure efficient disbursement to all verified stakeholders.Premier Commercial Bank is one of 53 deposit money banks whose licenses were revoked by the CBN between 1994 and 2018 due to various violations and signs of financial distress.These closures were followed by legal procedures appointing the NDIC to manage asset recoveries and creditor settlements.By initiating this final phase of payment, the NDIC is reaffirming its commitment to financial system stability and depositor protection while calling on all affected individuals and institutions to complete verification processes promptly to receive their due compensation.

By Tony Obiechina, Abuja

The Securities and Exchange Commission (SEC) has directed all public companies and registrars to stop treating unclaimed dividends older than 12 years as “statute-barred”—especially those dating from before the enactment of the Finance Act 2020.The SEC said in a statement on Tuesday that the directive reaffirms the provisions of Section 60 of the Finance Act, which mandates that dividends unclaimed for over six years be transferred to the Unclaimed Funds Trust Fund (UFTF), where they remain accessible to shareholders pending claims.

The Commission noted that shareholders are entitled to continue to claim their dividends that are not statute barred (that is not above 12 years) before December 31, 2020 “when the Finance Act 2020, came into effect.”According to the SEC in a circular, “The attention of the Securities and Exchange Commission has been drawn to the fact that paying companies and their Registrars have continued to treat unclaimed dividends of public companies that are older than 12 years as being “statute-barred” without recourse to the provisions of the Finance Act 2020.“In response to various inquiries on the subject, the Commission hereby clarifies as follows: The import of the provisions of Section 60 of the Finance Act 2020 (December 31, 2020), is that, where dividends declared by a public company quoted on the Nigerian Exchange Limited remained unclaimed for a period of six years or more, such dividends are expected to be transferred to the Unclaimed Funds Trust Fund (UFTF) to be held in trust and managed pending when the shareholder presents a claim for such unclaimed dividends,” SEC said.“Pending the setting up and operationalisation of the UFTF by the Federal Government, pursuant to its powers under Sections 3 (4) (e) and 93 of the Investments and Securities Act 2025, the Commission hereby directs public companies and their Registrars to continue to honour all requests by shareholders for the payment of unclaimed dividends as described above, with effect from December 31, 2020” SEC said.The Commission therefore directed public companies and Registrars to effect immediate compliance with the directive and submit periodic reports on the same in the manner prescribed in the Commission’s Rules and Regulations.