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CBN Reassures Public on Banking Sector Stability

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By Tony Obiechina Abuja

The Central Bank of Nigeria (CBN) has refuted social media reports on the stability of deposit money banks.The apex bank in a statement by the Acting Director of Corporate Communications, Hakama Sidi-Ali, described the reports as false and misleading.

The statement further reads “The attention of the Central Bank of Nigeria (CBN) has been drawn to certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution.
”The CBN wishes to categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound. Like all other regulated institutions, the institution referenced in these reports is held to stringent regulatory requirements, and there is no cause for concern regarding the safety of depositors’ funds.
”The Bank affirms that it continues to monitor all financial institutions under its regulatory purview and maintains robust frameworks for early warning signals and risk-based supervision.”These mechanisms ensure that any emerging issues are promptly addressed to protect the integrity of the financial system.We urge the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system.”The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds. It will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial system.

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Borno Gov Condoles Adamawa over Passing of Renowned Scholar, Jubril Aminu

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Borno Governor-elect Professor Umara
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From Yagana Ali, Yola

Borno State Governor, Babagana Zulum has led a delegation of prominent sons of Borno State to condole with the government and people of Adamawa State over the demise of esteemed scholar and elder statesman, Professor Jubril Aminu. The delegation, which included notable figures such as Alhaji Mohammed Indimi, Senator MT Monguno, and Hon.

Kadiri Rahis, among others, paid a courtesy visit to the Lamido of Adamawa, Dr.
Muhammadu Barkindo Aliyu Musdafa, and the deceased’s residence in Yola.Zulum praised Professor Aminu’s diligent service to the nation, highlighting his significant contributions to the growth and development of education in Borno State and beyond.
“Professor Jubril Aminu has served diligently not only Borno, but the entire country,” the Governor said. “The relationship between Borno State and the deceased cannot be overemphasized. He has spent many years in Borno State, contributing to the growth and development of education.”The Governor prayed that Almighty Allah grant Professor Aminu Aljannatul Firdaus and comfort the family during this moment of grief. “We are here to commiserate with your humble self (Lamido), the entire Emirate people, and government of Adamawa,” he said. “May God grant the deceased eternal life and the family the strength to bear the irreparable loss.”The leader of the delegation, Alhaji Mohammed Indimi, described Professor Aminu’s passing as a great loss, stressing that the delegation would continue to offer prayers for the repose of his soul. The Adamawa State Deputy Governor, Professor Kaletapwa George Farauta, led the delegation to the palace of the Lamido and the deceased’s residence, where condolence messages were delivered.The Galadima Adamawa, Alhaji Mustapha Aminu, and the elder son of the deceased, Murtala Jibril Aminu, thanked the delegation for identifying with the family, Emirate Council, and the state during this moment of grief. The gesture of solidarity from Borno State is a testament to the strong bonds between the two states and the respect for Professor Aminu’s legacy.

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Oluremi Tinubu Bags Ugosimba Chieftaincy Title in Enugu

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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.

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NDIC Begins Final Settlements of Liquidated Premier Bank Creditors

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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.

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