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NDIC Begins Payout, Vows Full Recovery of Failed Banks Loans

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The Nigeria Deposit Insurance Corporation (NDIC) has started the process of liquidating Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, following the revocation of their operating licences by the Central Bank of Nigeria (CBN).

The Corporation, in a notice to depositors and creditors of the banks in Abuja on Tuesday, said the verification and payment of insured deposits to customers of the closed banks had begun.

NDIC said that depositors of the banks would be paid their insured deposits up to the maximum amount of two million naira per depositor.

The Corporation said it would use the Bank Verification Number (BVN) as a unique identifier to locate the alternate bank accounts of the depositors where the insured sums would be automatically credited.

The Corporation disclosed that depositors with balances in excess of two million naira would be paid the initial insured amount, while their outstanding balances be settled as liquidation dividends.

It added that the outstanding balances in excess of the two million naira would be paid upon the realisation of the assets and recovery of debts owed to the failed banks.

According to NDIC, the Corporation will start the sale of the banks’ assets and continue recovery of outstanding loans to expedite payment of uninsured sums.

”Following the revocation of the licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc by the CBN on December 15, 2025, the NDIC was appointed as the liquidator of the defunct banks in line with the provisions of Section 12(2) of the Banks and Other Financial Institutions Act (BOFIA) 2020.

”Depositors are advised to submit their claims online by visiting the NDIC claims portal at https://ndic.gov.ng/claims-verification-forms/  completing the digital claims form with all required information.

”Depositors who prefer physical verification are advised to visit the nearest branch of the closed banks between Dec.16 and Dec. 30, where NDIC officials will be available to attend to them,” it said

NDIC, therefore, advised depositors to present proof of account ownership, a verifiable means of identification and details of their alternate bank account and BVN during verification to facilitate payment of their insured sums.

The Corporation said the creditors of the closed banks were advised to submit their claims online or visit the nearest branch of the banks between Dec.16 and Dec. 30.

”In accordance with the provisions of the law, payment of liquidation dividends to creditors will commence after all depositors have been fully paid.

”After the full payment to all depositors, payment of deposit of staff of the defunct banks will be made from the proceeds of the sale of the banks’ assets, as liquidation dividends.

”Following the full payment to Depositors and Creditors, shareholders shall subsequently be paid from further realisation of the banks’ assets and the recovery of outstanding debts, as liquidation dividends.

”Debtors of the defunct banks are advised to visit the Corporation’s Asset Management Department to ensure the settlement of their indebtedness in full,” the Corporation said.

NDIC urged stakeholders to contact the Corporation through its electronic mail address. claimscomplaints@ndic.gov.ng for further information or clarification on claims verification.

Recall the CBN had revoked the licences of the banks on Tuesday.

The CBN’s Acting Director, Corporate Communications Department, Hakama Sidi-Ali said the action was part of the apex bank’s efforts to re-position the mortgage sub-sector and promote a culture of compliance with relevant laws and regulations. (NAN)

Education

JAMB Adjusts Arrival Time for 2026 UTME

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The Joint Admissions and Matriculation Board has announced a slight adjustment to the arrival time for candidates sitting the 2026 Unified Tertiary Matriculation Examination, particularly those scheduled for the first session.

In a notice issued via its official X handle on Monday, the board stated that candidates for the first session are now expected to arrive at their examination centres by 7:00 a.

m.
, instead of the earlier scheduled 6:30 a.m.

JAMB added that the examination will commence at 8:30 a.m. and end at 10:30 a.m.

“Attention 2026 UTME Candidates: This is to notify you of a slight adjustment to the arrival scheduled time, particularly for the first session, which is now 7:00am as against the earlier published 6:30am, while the scheduled start time for the session is now 8:30 am and end time 10:30 am,” the notice read.

The board also clarified that candidates are not required to reprint their examination slips following the adjustment.

The full daily timetable, as shared by JAMB, includes four sessions running from Monday to Friday, with adjusted timings across all batches to ensure smoother operations at Computer-Based Test (CBT) centres nationwide.

This adjustment comes in response to long-standing feedback from candidates and parents regarding the challenges of very early morning travel, including safety concerns on roads before dawn and logistical difficulties for those coming from distant locations.

The UTME is scheduled to be held from Thursday, April 16, to Saturday, April 25, 2026.

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Leo Becomes First Pope to Visit Algeria at Start of Major Africa Tour

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Pope Leo XIV wants to “turn the world’s attention to Africa”, according to a senior Vatican official, as he embarks on a significant tour of the continent addressing themes of peace, migration and dialogue between religions.

The 11-day trip, which starts on Monday, is Pope Leo’s second major foreign visit since being elected to the papacy in May last year, and is a reflection of Africa’s increasing importance to Catholicism.

More than a fifth of the world’s Catholics are in Africa, some 288 million people, according to figures from 2024. It is one of the fastest-growing regions for the Church.

The Vatican said its latest survey shows a “remarkable increase” in the number of baptised Catholics on the continent.

Little wonder then that the trip is regarded as a personal priority for Pope Leo.

The wide-ranging tour will include stop-offs in 11 cities in four countries: Algeria, Cameroon, Angola and Equatorial Guinea. In all, the Pope will travel nearly 18,000 km (11,185 miles), clocking up most of the distance on 18 flights.

All but one of the countries have large Catholic populations, but he has chosen a non-Catholic country – Algeria – as his first stop, as it holds deep significance for him.

It is the birthplace of St Augustine, and Pope Leo XIV is the first pontiff from the order that follows his teachings.

The ideas of the 4th Century North African theologian, such as community and humility, have helped shape the current leader of the Catholic Church.

The Pope will go to the region where St Augustine was a bishop – formerly known as Hippo, now called Annaba – where he will celebrate Mass.

This marks the first visit by any pope to Algeria. After arriving in the capital city Algiers, Pope Leo visited the Martyrs’ Memorial, where he paid tribute to the victims of Algeria’s independence war against France.

He also used his speech to call for “forgiveness”, saying it was the only way that peace can be achieved.

Dialogue with the Islamic world is also expected to be a key focus, with a visit to the Great Mosque of Algiers being an important moment.

So too will a stop at a place of pilgrimage and prayer for both Muslims and Christians – the Basilica of our Lady of Africa – also in Algeria’s capital.

Behind the statue depicting a black Virgin Mary – venerated in both religions – are the words “pray for us and pray for the Muslims”.

The Rector of the Basilica, Father Peter Claver Kogh, said that he expected Pope Leo would “encourage us in our faith and in our mission to build a new world.

“A world where there is peace and where people live together in harmony.”

But the trip comes as rights groups express their concern over Algeria’s treatment of religious minorities.

Algeria has a predominantly Sunni Muslim population. In the past, courts in the North Africa nation have imprisoned Christians and Ahmadi Muslims for what had been described as “unauthorised worship” or offence to Islam.

After Algeria, Pope Leo will go on to Cameroon, where the conflict in its two anglophone regions will provide a backdrop.

The UN estimates at least 6,000 people have been killed and over half a million forced from their homes in the violence that has spanned nearly a decade, sparked by tensions between English-speaking separatists and the francophone-dominated government.

Bamenda, the capital of Cameroon’s North-West region, has been at the centre of the conflict.

It is here that the Pope will hold a Mass for peace and justice at the airport. Local residents hope it might act as a catalyst for reconciliation.

Ernestine Afanwi, a 45-year-old woman who fled Bamenda after her house and shop were destroyed, said that because the Pope was God’s representative on earth, “I know that everything will be solved”.

For the last three years, she and her six children have been living with other internally displaced people at a ramshackle old feed processing plant in the capital, Yaoundé.

“If I was face-to-face with the Pope, I would tell him all my problems [and ask] him to anoint the land,” she said.

The impact of conflict will also be a focus of the stop in Angola, a country which experienced decades of bloody civil war between the mid-1970s and 2002. A key theme will be peace and reconstruction.

In addition to meeting bishops, the pontiff will celebrate Mass with some 200,000 faithful, in a country where between 40% and 55% of the population identify as Catholic.

The presence of the Catholic Church in Angola dates back to the late 15th Century, when Portuguese explorers and missionaries arrived along the Angolan coast.

In Equatorial Guinea, the last country on the tour, more than 70% of people identify as Catholic.

Social justice is among the issues that the Pope is expected to address in a country whose president has been in power for almost 50 years, making him one of the world’s longest-serving heads of state.

Critics say President Teodoro Obiang Nguema’s government is one of the most oppressive in the region, and accuse the regime of human rights abuses – allegations which the government denies.

In addition to meeting authorities, Pope Leo is expected to visit a psychiatric hospital and a prison, as well as meeting young people.

While this will be his first pastoral visit to Africa since assuming the leadership of the Catholic Church last year, the Pope is no stranger to the continent.

As Cardinal Robert Prevost, he visited several countries including Kenya and Tanzania.

The 70-year-old pontiff will deliver around 25 speeches, as well as meeting political leaders, local Catholic communities and holding interfaith events.

The intensity of the tour is an indication of how the Vatican is prioritising its broader engagement with the continent.

By selecting Africa for this extensive itinerary, says the Vatican, Pope Leo will reinforce the continent’s role in global Catholic life, showcasing it as a place of faith, resilience and future growth.

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Education

FG Opens Applications for Second Cohort of TVET

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By Tony Obiechina, Abuja

The Federal Ministry of Education has announced the commencement of applications for the second cohort of the National Technical and Vocational Education and Training (TVET) Programme.

The ministry said the programme is part of efforts to boost skills acquisition and tackle unemployment among Nigerian youth.

In a statement issued by the ministry’s Director of Press and Public Relations, Boriowo Folasade on Monday, the ministry said the applications will open on Monday, April 13, 2026, at 4 pm.

It further invited interested Nigerians to participate in the nationwide initiative aimed at strengthening technical capacity, promoting entrepreneurship, and enhancing job creation.

The Minister of Education, Maruf Alausa, described the programme as a key strategy for human capital development.

She said the initiative is designed to equip young Nigerians with industry-relevant skills needed to succeed in a rapidly evolving economy.

Alausa said the programme aligns with the Renewed Hope Agenda of President Bola Tinubu, adding that it reflects the administration’s commitment to expanding access to skills-based education and fostering sustainable livelihoods.

He also said the Federal Government is investing in the productive capacity of young people through practical training and recognised certification, creating pathways for self-employment, innovation, and long-term economic growth.

“In strengthening this programme, the Federal Government is investing in the productive capacity of our youth. By providing practical training and recognised certification, we are creating pathways for self-employment, innovation, and long-term economic growth,” the Minister said.

The statement noted that as part of efforts to expand opportunities in emerging sectors, the Ministry is collaborating with the Federal Ministry of Arts, Culture and Tourism to strengthen training in creative and cultural industries, with a view to unlocking the potential of Nigeria’s creative economy.

According to the statement the TVET Programme will provide intensive six-month and one-year hands-on training in accredited centres across the 36 states and the Federal Capital Territory. He added that participants will receive a monthly stipend of N22,500 and a nationally recognised certificate upon successful completion.

Boriowo added the training areas include construction, ICT, automotive technology, creative media, agriculture, fashion and garment production, cosmetology, tourism and hospitality, catering services, and leather works.

The Ministry further stated that applicants are required to demonstrate commitment to the programme and must be available for full participation throughout the training period, adding that attendance will be monitored using biometric verification systems, with stipends tied to compliance.

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