NEWS
NDIC Liquidates Aso Savings, Union Homes, Pays N2m Deposits
By Tony Obiechina, Abuja
The Nigerian Deposit Insurance Corporation (NDIC) exercised its appointment as the liquidator of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc following the revocation of the licenses by the Central Bank of Nigeria (CBN) yesterday.
The corporation stated that its appointment as the liquidator of the defunct mortgage banks was in line with the provisions of Section 12(2) of the Banks and Other Financial Institutions Act (BOFIA) 2020.
It maintained that in view of the development, it had commenced the liquidation process for Aso Savings and Loans Plc and Union Homes Savings and Loans Plc with the verification and payment of insured deposits to depositors based on some processes.
The NDIC stated on Verification and Payment processes that depositors of the two defunct mortgage banks would be paid their insured deposits up to the maximum amount of N2,000,000 per depositor, using the Bank Verification Number (BVN) as a unique identifier to locate their alternate bank accounts, into which the insured sums will be automatically credited.
It clarified that depositors with balances in excess of N2,000,000 would be paid the initial insured amount, while their outstanding balances would be settled as liquidation dividends upon the realisation of the assets and recovery of debts owed to (of) the failed banks.
To ensure this, the NDIC hinted that it would commence the sale of the banks’ assets and continue recovery of outstanding loans in order to expedite payment of uninsured sums.
On submission of claims by depositors, the corporation stated that verification and processing of depositors’ claims may be carried out online or physically.
Specifically, it advised depositors 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, and clicking the “Submit” button, adding that depositors who prefer physical verification should visit the nearest branch of the closed banks between Tuesday, December 16, 2025 and Thursday, December 30, 2025, where NDIC officials will be available to attend to them.
The NDIC further clarified: “For verification of deposits and subsequent payment of insured sums, depositors are required to present Proof of account ownership; A verifiable means of identification (Driver’s License, Permanent Voter’s Card, or National Identity Card); and Details of their alternate bank account and Bank Verification Number (BVN).
On activation of transaction alerts, it advised the depositors to ensure that transaction alerts are activated for their alternate bank accounts in order to receive notifications of payments. Where alerts are not active, depositors may check their account balances using their bank’s USSD codes or by visiting their bank branches.
This is even as it advised creditors of the closed banks to submit their claims online or by visiting the nearest branch of the banks between Tuesday, December 16, 2025 and Thursday, December 30, 2025, assuring that in accordance with the provisions of the law, payment of liquidation dividends to creditors will commence after all depositors have been fully paid.
In addition, the Corporation stated payment to the defunct banks’ staff would be made after the full payment to all depositors, from the proceeds of the sale of the banks’ assets, as liquidation dividends.
On payments to the affected banks’ shareholders, the NDIC promised that after the full payment to depositors and creditors, the shareholders shall subsequently be paid from further realisation of the banks’ assets and the recovery of outstanding debts, as liquidation dividends.
It advised debtors of the defunct banks to visit the Corporation’s Asset Management Department to ensure the settlement of their indebtedness in full.
NEWS
Former Delta Governor Uduaghan Dies at 70
From Francis Sadhere, Delta
Former Governor of Delta State, Dr. Emmanuel Eweta Uduaghan, has died.
Uduaghan, who governed the state from 2007 to 2015, reportedly passed away in the morning of Monday, October 19, 2026.
His death was announced in a statement signed by Toju Anire Uduaghan on behalf of the family, which described his passing as a devastating loss to the family, Delta State and Nigeria.
The family said the former governor was a beloved father, brother, uncle and patriarch whose life and service touched many people across the state and the country.
“His passing has left us devastated. Words can hardly express the depth of our sorrow at the loss of a man who meant so much to our family and whose life and service touched countless others across Delta State and Nigeria,” the statement said.
Uduaghan held several key positions in the Delta State Government before becoming governor. He served as Commissioner for Health from 1999 to 2003 and Secretary to the State Government from 2003 to 2007.
He subsequently emerged as governor in 2007 and remained in office until 2015, during which the family said he demonstrated commitment to the human and infrastructural development of the state.
The family described his death as a profound loss, noting that he was a source of strength, a father figure and a respected elder whose memories and legacy would remain cherished.
“We are grateful to Almighty God for his life, his service, and the legacy he leaves behind,” the statement added.
The family prayed for the repose of his soul and divine comfort for relatives, friends, associates, former colleagues and others mourning his death.
“Your memory will forever remain in our hearts, and your legacy will endure in the lives of those you touched,” the family said in its farewell message.
Uduaghan’s death marks the loss of a former leader who occupied prominent positions in Delta State’s political and administrative history.
The family concluded its announcement with a prayer for his peaceful repose, saying, “May your gentle soul rest in perfect peace. Amen.”
The statement was signed by Toju Anire Uduaghan on behalf of the family.
NEWS
Customs Opens Review for Disqualified Recruits, Flags 397 Applicants
By Tambaya Julius, Abuja
The Nigeria Customs Service (NCS) has opened a review process for applicants disqualified during its recent recruitment screening, following complaints from candidates who made the shortlist but were denied entry into the training college.
The Comptroller-General of Customs, Bashir Adewale Adeniyi, ordered a case-by-case review after meeting with some of the affected applicants, according to a statement by the Service.
The NCS disclosed that 397 applicants were flagged during the screening over issues relating to substance abuse, physical fitness, medical records, age and submitted documents.
It clarified that the substance-abuse category excluded cigarette and alcohol use. Some other applicants were disqualified over irregularities discovered in their selection process.
The Service explained that making the final shortlist did not guarantee enlistment, as candidates were required to pass several stages of screening, including document verification, physical fitness and endurance tests, medical examinations, age checks and drug screening.
Affected applicants have been asked to submit their details and complaints to helpdesk@customs.gov.ng for assessment. Those seeking a review will undergo fresh screening, the Service said.
It added that the review would not automatically qualify any applicant for admission into the training college, stressing that all candidates must meet the prescribed recruitment requirements.
The NCS also warned that applicants found to have engaged in criminal conduct, including certificate fraud, could be referred to the appropriate authorities for investigation and prosecution.
The Service urged aggrieved candidates to use the designated email address to submit their complaints, saying the review was intended to address genuine concerns while preserving the credibility of the recruitment exercise.
It maintained that recruitment standards would not be compromised, given the Customs Service’s responsibilities for border protection, revenue collection, national security and public safety.
NEWS
World Bank Tasks FG, States on Sustainable Cash Transfers
By Tambaya Julius, Abuja
The World Bank has urged the Federal Government and state governments to establish a sustainable social protection system, warning that Nigeria’s N658.9bn cash transfer programme needs wider coverage, adequate payments and regular disbursements to provide meaningful relief to vulnerable households.
As of September 2026, the Federal Government had disbursed N658.
9bn to 10.46 million poor and vulnerable households through direct cash transfers, using biometric and digital verification to identify beneficiaries and deliver payments.The bank, however, said the programme must move beyond emergency interventions to a reliable system backed by regular government funding.
The recommendation was contained in its latest Nigeria Development Update, titled ‘Beyond the Federal Purse: How Higher Revenues Shaped State Priorities’.
According to the report, the effectiveness of cash transfers depends on the number of households reached, the value of payments and how consistently beneficiaries receive them.
The bank called for dedicated budget allocations at both federal and state levels, with increased funding from domestic resources to ensure continuity and reduce dependence on temporary interventions.
It also stressed the need for stronger coordination between the two tiers of government to improve the delivery and monitoring of social assistance programmes.
The report said a predictable, adequately funded social protection system would help vulnerable Nigerians cope with economic pressures and improve household welfare.
Mean while, President Bola Tinubu has received the United Nations’ proposed 2027 budget, valued at about $14 billion, from Nigeria’s Permanent Representative to the global body, Jimoh Ibrahim, who described the presentation as a historic milestone for the country, which is chairing the UN General Assembly’s Fifth Committee on Administrative and Budgetary Matters for the first time in 66 years.


