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

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.
NEWS
Alleged Police Brutality: A’Ibom CP Orders Investigation into Students Complaints

The Commissioner of Police, Akwa Ibom Command, Baba Azare, has ordered a comprehensive investigation into allegations of police brutality and extortion raised by some students of Akwa Ibom State Polytechnic, Ikot Osurua.
This is contained in a statement by the Police Public Relations Officer (PPRO), DSP Timfon John on Monday in Uyo.
The students earlier on Monday staged a protest over alleged police brutality and extortion which they said disrupted academic activities in the institution’s campus.
In a bid to address their concerns, the Commissioner of Police engaged the management of the school, Students’ Union Government (SUG) and other representatives in a peaceful dialogue aimed at fostering understanding and strengthening police-student relations.
“During the engagement, the Command reaffirmed its uncompromising dedication to upholding human rights and ensuring the safety of all citizens, including students.
“The CP strongly condemned any acts of misconduct by police officers, emphasising that any personnel found guilty of unprofessional behaviour would face disciplinary measures in accordance with the law,” John said.
The command spokesperson reassured the students of the Polythecnic that proactive security measures were already in place to curb crime and enhance safety within the host community through intelligence-led operations.
She said the CP used the occasion to emphasise on the need for continuous collaboration between students and law enforcement agencies in the State for peace to reign
She called for open communication and trust-building efforts to ensure a more secure environment.
John added that the police command remained resolute in its duty to protect lives and property, while maintaining the highest standards of policing. (NAN)
NEWS
Northern CAN Calls for Mindset Shift to Foster Regional Development

The Christian Association of Nigeria (CAN) in the 19 Northern states and the Federal Capital Territory (FCT) has called for a change in mindset, to promote unity, peace, and development in the region.
Speaking at a dinner in Kaduna on Monday night , Chairman of Northern CAN, Rev.
John Hayab, urged Christian leaders and communities to embrace inclusivity and cooperation as a pathway to progress.CAN leaders , clerics and others in attendance reaffirmed the association’s commitment to advocating the rights of Northern Christians and addressing key regional challenges.
“We will remain a voice for Northern Christians, defenders of truth, and speakers of truth to power.
However, we will do so with love and understanding,” Hayab said.He decried the deep -seated religious and ethnic divisions that had hindered the region’s progress, calling for a new era of unity and respect.
“It is disheartening when people perceive us as divided and intolerant. Our region is blessed, but divisions have cost us dearly. It’s time for a change in mindset,” the chairman said.
Speaking to journalists after the event, Amb. Elizabeth Azizi, the leader of the Northern CAN Women’s Wing, expressed confidence in Hayab’s leadership, describing him as a capable advocate for the Christian community.
Azizi also criticised the previous CAN leadership, led by Rev. Yakubu Pam and secretary, Elder Sunday Oibe, for exceeding their tenure by nearly three years.
She urged them to act with maturity and avoid unnecessary conflicts.
Similarly, Northern CAN Youth Leader, Evangelist Musa Misal, reaffirmed the youth’s support for Hayab, and called on Pam and Oibe to hand over all Northern CAN properties in the 19 states and the FCT to the new leadership without delay.
Misal also urged them to acknowledge that leadership is temporary and that it comes from God.
“The youths stand firmly with the new leadership and will give him their total support. This is the kind of leader we have long desired,” he said.
The event was attended by several dignitaries, including the Secretary General of Northern CAN, Bishop Mohammed Naga; Director of Legal and Public Affairs, Dr. Grace Kaka; and Director of Ecumenism and Interfaith, Rev. Godwin Adole.
Others in attendance were the Director of Planning, Research, and Strategy, Rev. Emeka Obianyor; the Director of Youth, Women, and Education, Rev. Fr. Ngbea Gabriel; and Northern CAN Vice Chairman, Rev. Dr. Jonah Samson.
Also, a former ECWA General Secretary Worldwide, Rev. Yunusa Madu; and President of the Pentecostal Bishops Forum, Bishop Ademola Idowu Tinuoye, among others. (NAN)
NEWS
Police Confirm Explosion at Trans-Niger Pipeline in Rivers

The Police Command in Rivers has confirmed an explosion at the Trans-Niger Pipeline (TNP) at Bodo, Gokana Local Government Area of the state.
SP Grace Iringe-Koko, the command’s Spokesperson, made the confirmation in a statement to newsmen in Port Harcourt on Tuesday.
She said that details of the explosion were still sketchy, and assured that further information would be provided as investigations progressed.
The explosion, which occurred on Monday midnight, damaged the pipeline transporting crude to the Bonny Terminal, a key crude oil export facility.
The TNP, formerly owned by the Shell Petroleum Development Company, was later sold to AITO and has the capacity to produce 180,000 barrels of crude oil per day.
Eyewitness reports revealed that the explosion impacted a main section of the pipeline, though the exact cause remains unknown.
The explosions comes amid heightened political tensions, following the Rivers State House of Assembly’s issuance of report gross misconduct to Gov. Siminalayi Fubara and his Deputy, Ngozi Odu.(NAN)