NEWS
NDIC Tasks Depositors on BVN for Prompt Payout
The Nigeria Deposit Insurance Corporation (NDIC) has reassured depositors of the safety of their funds, urging them to ensure their Bank Verification Numbers (BVNs) were properly linked to their accounts.
The Executive Director, Corporate Services, NDIC, Emily Osuji, stated this on Monday in Kano at the NDIC Stakeholders’ Town Hall Meeting.
Osuji emphasised that proper BVN linkage would facilitate seamless verification and prompt payment of insured deposits in the event of bank failure.
She also highlighted its enhanced coverage and improved processes, aimed at strengthening public confidence in the banking system and ensuring timely settlement of claims.
Osuji said the forum was organised to address persistent misconceptions among members of the public about the scope, benefits and limitations of deposit insurance in Nigeria.
She explained that many depositors were still unclear about what deposits were covered, procedures to follow when a bank’s licence was revoked and how reimbursements were carried out.
According to her, the town hall meeting serves as a platform to empower depositors with practical knowledge on how their funds are protected and how the corporation contributes to financial system stability.
Osuji said the NDIC discharges its responsibilities through its core mandates of deposit guarantee, bank supervision, distress resolution and bank liquidation, all aimed at protecting depositors’ savings.
She reaffirmed the corporation’s commitment to depositor protection, stating that the NDIC’s slogan, ‘Protecting your bank deposits!’, reflected its resolve to ensure depositors have access to their funds in the event of bank failure.
The executive director recalled that the corporation increased maximum deposit insurance coverage in 2024 to further strengthen depositors’ protection.
She said depositors of Deposit Money Banks, Mobile Money Operators and Non-Interest Banks were now insured up to N5 million, while those of Microfinance Banks, Primary Mortgage Banks and Payment Service Banks were covered up to N2 million.
Osuji explained that in the event of bank failure, depositors were paid promptly up to the insured limit, while balances above the limit were paid as liquidation dividends after the realisation of assets and recovery of debts.
Osuji also cited the prompt reimbursement of depositors of the defunct Heritage Bank Limited, Union Homes Plc and Aso Savings and Loans Plc, where claims were paid within days using depositors’ Bank Verification Numbers (BVN).
Earlier, Ahmad Umar, Controller of NDIC Kano Zonal Office, said the Corporation safeguards depositors’ funds and ensures prompt payment of insured deposits in the event of bank failure, while recovering additional funds for amounts above the insured limit.
“The Town Hall, part of NDIC’s stakeholder engagement across Kano, Enugu, and Lagos, provided a platform for addressing concerns and clarifying deposit insurance,” he said.
Also speaking, Hawwau Gambo, Head of Communication and Public Affairs, said the meeting was prompted by recent banking sector developments, including the revocation of some bank licences and ongoing capitalization efforts, which have heightened public interest and misconceptions about deposit insurance.
Gambo emphasised that financial stability and consumer protection were shared responsibilities and urged robust participation, constructive dialogue, and feedback to strengthen NDIC’s public awareness initiatives.(NAN)
NEWS
APWEN Lauds Diri on Ongoing 60MW Gas-fired Turbine
From Mike Tayese, Yenagoa
The Association of Professional Women Engineers of Nigeria (APWEN) Bayelsa Chapter has lauded the initiatives of Governor Douye Diri’s administration on the injection of 60 megawatts of power supply through the 99% nearly completed gas-fired turbine project.
The Chairman of the Association, Engr.
Amalate Ann Jonathan Obuebite gave the commendation when she led no fewer than 30 women engineers, comprising professionals, graduates and students on an industrial visit to the 60MW Gas-Fired Power Plant at Elebele in Ogbia local government area of the state.She added that upon completion, the 60MW gas-fired turbine, which receives gas feed from the Oando gas manifold in Elebele would help eradicate the frequent power outages in the state, boost business activities, and accelerate industrial and economic growth.
According to her, ‘When the project is completed, it will almost take the state out of the national grid as well as provide a stable power supply across the state”
Obuebite had during an interactive session with Governor Douye Diri at the project site in Elebele noted that the current 20 Megawatt power supply is inadequate for the state to meet both domestic and industrial demands.
She added that upon completion, the 60MW gas-fired turbine, which receives gas feed from the Oando gas manifold in Elebele would help eradicate the frequent power outages in the state, boost business activities, and accelerate industrial and economic growth.
The members of the APWEN were conducted round the project site by the Managing Director and Chief Executive Officer of Bayelsa Electricity Company Limited (BECL)
Engr. Olice Kemenanabo.
The members, during the project which lasted for 2 hours gained valuable insights into the power plant’s operations, from inducers to gas pipes, boilers, pressure control with transmitters, heat exchange bellows, emergency shut-off valve etc.
The hands-on experience was invaluable, with the students learning how lean gas and methane are processed to power the turbine.
The visit also bridged the gap between theory and practice, enhancing their understanding of engineering principles while the students on their part took turns to ask questions as the MD took time to answer all questions satisfactorily.
NEWS
Aondoakaa Condemns Kwande Killings, Calls for Urgent Government Action
By David Torough, Abuja
Former Attorney General of the Federation and Minister of Justice, Michael Kaase Aondoakaa, has strongly condemned the recent killings in communities in Kwande Local Government Area of Benue State, where more than 13 people were reportedly murdered by suspected herdsmen terrorists.
The attacks occurred in the Mbaav and Mbadura areas of Turan in Kwande, leaving several residents dead and others injured, displaced, or missing.
Aondoakaa described the incident as “barbaric, inhumane and unacceptable,” stressing that the killing of innocent farmers in their own communities should trouble the conscience of all Nigerians.
In a statement issued by his media aide, James Ian, the former justice minister expressed deep sympathy to the families of those who lost their lives and to residents affected by the violence.
“My heart goes out to the families of the victims who have lost their loved ones in such cruel circumstances,” Aondoakaa said. “I also sympathize with the many people who have been injured, displaced from their ancestral homes, or are still missing following these attacks. The trauma and suffering being inflicted on our people are simply unacceptable.”
He noted that the renewed violence in Kwande reflects the persistent insecurity facing many rural communities in Benue, warning that repeated attacks have turned once peaceful farming settlements into areas of fear and displacement.
Aondoakaa also expressed concern over what he described as the apparent silence and inaction of the Benue State Government amid recurring killings across the state.
He urged the state’s leadership to demonstrate stronger commitment to protecting vulnerable communities and to provide clear direction and reassurance to residents.
The former Attorney General appealed to President Bola Ahmed Tinubu to urgently intervene by deploying adequate security forces to affected communities to halt the cycle of violence.
He commended Tinubu for his earlier visit to Benue following the deadly attack in Yelewata last year, which left more than 200 people dead, saying the visit gave hope to grieving families.
Aondoakaa also called on security agencies to act swiftly to safeguard lives and property, while urging all levels of government to collaborate in addressing the growing security crisis affecting communities in Benue State.
NEWS
KWUPO Raises the Alarm Over Killings Near Security Camp in Kwande
By David Torough, Abuja
The Kwande United People’s Organization (KWUPO) has demanded urgent explanations from security authorities following fresh attacks on communities in Kwande Local Government Area of Benue State, despite the recent deployment of security personnel to the area.
In a statement issued in March by its President General, Comrade Simon Aloko Nachi, the group said residents were attacked on Thursday night in River Jam, Mbaikyo Mbachiom, and across the Yaav Ward, communities located close to Jato Aka in the Turan axis where about 200 security personnel are reportedly stationed.
KWUPO expressed shock and anger that the attacks occurred only weeks after Governor Rev.
Fr. Hyacinth Iormem Alia visited the area and assured residents that security measures had been put in place to protect them.According to the group, no security intervention was reported during the attacks despite the proximity of the deployed personnel.
The organization described the situation as a serious security failure and questioned the role of the officers stationed in Jato Aka, asking why no attempt was made to repel the attackers or protect the nearby communities.
KWUPO called on Governor Alia, the chairman of Kwande Local Government, and the heads of all security agencies operating in the area to immediately investigate the incident and provide a clear explanation to residents.
The group warned that the continued attacks have deepened fear among residents and displaced families, many of whom have already lost homes and loved ones in previous violence.
It also appealed to civil society groups, the National Assembly, and the international community to pay attention to the security situation in Kwande, insisting that residents deserve urgent protection and decisive action to prevent further loss of life.


