By Tony Obiechina Abuja

The Nigeria Deposit Insurance Corporation (NDIC) has restated its commitment to ensure safety of depositors’ funds in all licensed banks.

The Corporation which gave the assurance against the backdrop of the recent liquidation of Heritage Bank by the Central Bank of Nigeria (CBN) enjoined members of the public to continue their banking activities without fear, “as all other banks remain safe and sound”.

In a statement by Hajia Hawwau Gambo, the Acting Head of Communication & Public Affairs in Abuja on Sunday, the NDIC said it acted in response to concerns raised by depositors of the defunct Heritage Bank whose balances exceed the maximum deposit insurance limit of N5 million.

The statement further reads “the Nigeria Deposit Insurance Corporation (NDIC) wishes to clarify that the Corporation has intensified efforts to ensure timely payments. Following the revocation of Heritage Bank’s banking license by the Central Bank of Nigeria (CBN) on June 3, 2024, the NDIC was appointed as the liquidator in accordance with Section 12(2) of the Banks and Other Financial Institutions Act (BOFIA) 2020 and Section 55(1 & 2) of the NDIC Act 2023.

“In line with its statutory mandate, the Corporation immediately commenced the bank’s liquidation process, including the verification and payment of insured deposits to all depositors. Significant progress has been made in reimbursing the insured deposits of the N5 million maximum per depositor.

“It is instructive to state that, depositors yet to be paid their insured deposits are largely those without Bank Verification Number (BVN) or alternate accounts in other banks to enable the Corporation fetch the accounts from the Nigeria Inter-Bank Settlement System (NIBSS) database to effect payment. Other depositors in this category are those with post no debit (PND) restrictions on their accounts.

“Additionally, some accounts have Known Your Customer (KYC) limitations such as Tier 1 accounts that place restrictions on the maximum lodgment of funds, while others have name mismatches that require resolution. Some depositors who have been paid may also be unaware that they have received payments due to lack of mobile phone transaction alerts on their alternate accounts into which the insured sums were paid by the NDIC.

“Therefore, depositors are advised to check their alternate bank accounts, as some payments may have been processed without their immediate awareness”.

According to the statement, while depositors with balances above N5 million have been paid the initial insured sums of the N5 million, the remaining balance in excess of the insured sum of the N5 million already reimbursed, will be paid as liquidation dividends in accordance with the Corporation’s statutory mandate.

It also added that the NDIC has made substantial progress in disposing of the physical assets and recovering some of the debts of the failed bank to ensure that depositors with balances above the maximum insured limit receive their payments as soon as possible.

“As a clear demonstration of this commitment, the Corporation commenced the realization of physical assets and investments as well as aggressive recovery of the risk assets, concurrently with the verification and payment of insured sums.

“The Corporation’s approach of simultaneously paying insured depositors while aggressively pursuing asset sales and debt recovery is designed to accelerate the liquidation process and ensure that all depositors receive their funds without unnecessary delays.

“With the considerable progress recorded in the asset realization, the Corporation will declare the first tranche of liquidation dividends in April 2025 which will be paid to uninsured depositors on a pro-rata basis, in line with Section 72 of the NDIC Act 2023 on the priority of claims.

 “Where an insured institution is unable to meet its obligations or suspends payment, or where its management and control have been taken over by the Central Bank of Nigeria following the revocation of its license, the assets of the insured institution shall be available to meet its deposit liabilities. Such deposit liabilities shall have priority over all other liabilities of the insured institution.

“Consequently, other claimants of the failed Heritage Bank, including creditors, and shareholders, will be considered for payment of liquidation dividends only after all depositors have been fully reimbursed”, the statement added.

By Ubong Ukpong, Abuja

A constitutional amendment bill seeking to bar individuals above 60 years from contesting for the offices of President and Governor in Nigeria passed through second reading yesterday, in the House of Representatives.

If this bill scales legislative scrutiny and is signed into law, President Bola Tinubu, former Vice President Atiku Abubakar, and the 2023 presidential candidate of the Labour Party, Peter Obi will miss out on the 2027 presidential contest as they are all above 60 years of age.

Titled “A Bill for an Act to alter the Constitution of the Federal Republic of Nigeria, 1999 to review the requirements that qualify a person to be elected as President and Vice President of the Federal Republic of Nigeria, Governors and Deputy Governor of a State of the Federal Republic of Nigeria and for Related Matters” was sponsored by Imo lawmaker, Ikenga Ugochinyere.

The bill was one of the 31 proposed legislations which scaled second reading during Thursday’s plenary session.

The bill provides that “A person shall be qualified for election to the office of the President if he has been educated up to at least university level and has earned a Bachelor’s degree in his chosen field of study.

“Section 131 of the Principal Act is amended by inserting a paragraph which reads, “That he is not more than 60 years at the time of vying for the Office of President.

“Section 177(d) of the principal Act is amended by altering the educational requirement that qualifies persons to be elected as governor as follows:

“A person shall be qualified for election to the Office of the President if he has been educated up to at least university level and has earned a Bachelor’s degree in his chosen field of study.

“That he is not more than 60 years old at the time of vying for the office of Governor.

A bill to provide statutory backing for the establishment of Alvan Ikoku Federal University of Education in Imo State also passed second reading.

The bill, sponsored by Ugochinyere, aims to elevate the institution’s status, granting it federal recognition and funding support.

The House also passed for second reading a Bill for an Act to alter the Constitution to provide for mandatory inclusion of youths and persons living with disabilities in political appointments.

This bill, also sponsored by the Imo lawmaker, seeks to promote inclusivity and representation in governance.

Similarly, the bill to move trade and commerce to the concurrent legislative list, aimed at enhancing interstate commerce, also scaled second reading during plenary.

When passed into law, the proposed legislation will empower federal and state governments to regulate trade, thus boosting economic activities between and within the two layers of government.

Also considered and approved was the Federal University of Education, Zaria (Establishment) Bill, 2025, sponsored by Speaker Abbas and Plateau lawmaker Yusuf Gagdi.

This bill aims to establish a specialised university focused on teacher education in Zaria. Other education-related bills include the establishment of Yusuf Maitama Sule Federal University of Education in Kano and the University of Nigerian Languages in Aba, among others.

Also passed for second reading is the Reserved Seats for Women in National and State Assemblies Bill, 2025, sponsored by Rep. Kafilat Ogbara.

The bill aims to promote gender inclusivity by reserving specific legislative seats for women.

The Inclusion of Youths and Persons with Disabilities in Political Appointments Bill, 2025, sponsored by Ugochinyere, also passed the second reading.

The bill aims to ensure greater participation of marginalised groups in government.

Additionally, judicial reforms are on the agenda with bills such as the Timelines for Justice Administration Bill, 2025, sponsored by Benjamin Kalu, which seeks to enhance the justice delivery system in the country.

Another proposal, “The Increase in Number of Supreme Court & Court of Appeal Justices Bill, sponsored by Bello Kaoje, calls for an expansion in the number of justices to improve the efficiency of the judiciary.

The House also deliberated on bills related to the creation of new states, with the Creation of Wan State (North Central) Bill, 2025 and the Creation of Gobir State (North West) Bill, 2025 also passing for second reading.

The bill, sponsored by Rep. Ikeagwuonu Ugochinyere, proposes amendments to the 1999 Constitution to revise eligibility requirements for these key political positions.

According to the bill, Presidential and gubernatorial candidates must not be older than 60 years at the time of contesting.

Also, candidates must hold at least a Bachelor’s degree in their chosen field of study.

The bill specifically amends Section 131 of the constitution to introduce the age limit for the presidency and Section 177 to apply the same requirement to gubernatorial candidates

In addition to the age limit bill, the House passed several other important bills for second reading, including: Alvan Ikoku Federal University of Education Bill: Sponsored by Speaker Tajudeen Abbas and Rep. Ikenga Imo Ugochinyere, this bill seeks to upgrade Alvan Ikoku College of Education in Imo State to a federal university.

Bill for the Creation of Ideato West Local Government Area  proposes the creation of an additional LGA in Imo State to enhance administrative and developmental efforts.

Bill for Mandatory Inclusion of Youths and Persons with Disabilities in Political Appointments: Sponsored by Rep. Ugochinyere, this bill aims to ensure inclusivity in governance by reserving positions for young people and persons with disabilities.

Bill to Move Trade and Commerce to the Concurrent Legislative List: Also sponsored by Rep. Ugochinyere, this bill seeks to grant both federal and state governments the power to regulate trade and commerce, boosting economic activity nationwide.

Reserved Seats for Women in National and State Assemblies Bill: Sponsored by Rep. Kafilat Ogbara, this bill aims to increase female representation in legislative bodies

Judicial Reform Bills: Timelines for Justice Administration Bill (Sponsored by Rep. Benjamin Okezie Kalu) – Seeks to expedite judicial processes.

Increase in Supreme Court & Court of Appeal Justices Bill (Sponsored by Rep. Bello Kaoje) – Proposes an increase in the number of justices to improve efficiency.

Creation of New States: Creation of Wan State (North Central) Bill, Creation of Gobir State (Northwest) Bill.

With these legislative efforts, the House aims to reshape Nigeria’s governance structure, promote youth and gender inclusion, and enhance economic and judicial efficiency.

From Attah Ede, Makurdi

The Federal Government has said it would continue to prioritize the provision of portable water to its citizenry.

It further said the rehabilitation and upgrade of Buruku/Gboko Water Supply Scheme in Benue State would address the water needs of the people of the area.

The Minister for Water Resources and Sanitation, Prof.

Joseph Terlumum Utsev said this yesterday at the groundbreaking ceremony for the rehabilitation and upgrading of Buruku/Gboko Water Supply Project at Gboko Water Treatment Plant at Ameladu.

Utsev explained that the resuscitation of the vandalized existing water works at Ameladu, Mkar in Gboko Local Government Area and Buruku Water Supply Scheme is targeted at improving the lives of the residents estimated at about 506,000 people through accessing portable water and reducing the risk of water borne diseases.

“The Water Supply Project is a critical initiative that will provide clean and safe drinking water to the people of Buruku, Gboko and their environs, noting that it is a clear demonstration of Government’s commitment to improving the lives of its citizens and providing them with the necessities of life in line with President Bola Tinubu’s Renewed Hope Agenda.

“The Buruku/Gboko Water Supply Project which was initially conceived as ‘‘Gboko-Yandev Water Supply System’’ is currently named ‘’Rehabilitation and Upgrading of Buruku /Gboko Water Supply Project’’ and is located approximately 70 to 90 kilometres south-east of Makurdi.

“Due to insufficient water supply in the Gboko-Yandev area, Benue State Government then Plateau State appointed Messrs Lahmeyer International, Consulting Engineers, Frankfurt/Main, Germany to carry out Feasibility Study and Detailed Engineering Design for the Gboko-Yandev Water Supply Project.

“The Rehabilitation and Upgrade of Buruku/Gboko Water Supply Scheme in Benue State is aimed at resuscitating the vandalized existing water works at Ameladu, Mkar in Gboko Local Government Area and Buruku Water Supply Scheme in a bid to improve the lives of the residents estimated at about 506,000 people through accessing portable water and reducing the risk of water borne diseases,” Utsev noted.

According to the Minister, the extraction of water is from the Katsina Ala river by the intake structure at the shore of the river which then shall be transported for a distance of about 17KM for purification/treatment and distribution as potable water supply to Gboko/Mkar communities as well as to neighboring communities.

He added that the Federal Government’s intervention is meant to accelerate access to clean and potable water in the country towards meeting National and internationally set targets.

“It is meant to further create jobs, stimulate economic growth, and improve the overall quality of life for our citizens.

“This project is made possible through the approval of the Federal Executive Council under the leadership of President Bola Tinubu, for the Rehabilitation and Upgrading of Buruku/Gboko Water Supply Project to Messrs Ceylon Construction Services Limited at the total contract sum of N18.8bn with a completion period of 18 months.

 “I urge you all to work towards delivering the project effectively and timely to achieve the value for efforts, time and money committed to this project,” the Minister said.

Also speaking at the occasion, the Benue State Governor, Rev. Fr. Hyacinth Alia said the resuscitation of the project which has been abandoned for decades is a demonstration and commitment to the importance the President attaches to improving the well-being of its citizens through the provision of water.

Represented by his Deputy, Sam Ode, the Governor said that his government has awarded a contract for the rehabilitation of the Katsina-Ala and Otobi water works respectively at the cost of N1.5 bn

“At Ugbema, Buruku Local government country home of the Minister, he flagged off the construction of a Mega water project which is expected to supply water to over 500,000 inhabitants, as well as the Dura Dam meant for irrigation and future hydro power generation,” Alia said.