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NDIC to Pay First Tranche of Liquidation Dividends to Heritage Bank Depositors in April

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The Nigeria Deposit Insurance Corporation (NDIC) says it would begin the payment of the first tranche of liquidation dividends to depositors of Heritage Bank from April.

It would be recalled that Heritage Bank operating licence was revoked by the Central Bank of Nigeria (CBN) on June 3, 2024.

The Managing  Director of NDIC, Mr Bello Hassan, said this on Wednesday at the NDIC Special Day at the ongoing 36th Enugu  International Trade.

Represented by Mrs Pamela Robert, South-East Coordinator of NDIC, Hassan said that NDIC was in collaboration with the CBN to maintain stability in the banking sector, enforce compliance with banking regulations and exercise effective oversight over insured deposit-taking institutions.

According to him, NDIC have commenced preparations to pay the first tranche of liquidation dividends this month of April.

“I wish to reassure all depositors that the NDIC has the financial and operational capacity to fully reimburse all depositors as recoveries are made,” he said.

Hassan said that the approach of paying insured deposits while concurrently realising assets and recovering loans ensured that no depositor was left behind.

The managing director emphasised that as more recoveries were made, subsequent tranches of liquidation dividends would follow.

“Our record in bank liquidation is reassuring. NDIC has successfully declared fully liquidation dividends to depositors of 20 previously failed banks.

“This reflects our unwavering commitment to depositor protection and our proven capacity to manage bank failures effectively.

“Therefore, I urge depositors of closed banks, particularly Heritage Bank, who have not yet received their payments, to come forward and provide necessary documentation supporting ownership of the account.

These, he said, included the Bank Verification Number (BVN), and alternate bank account number for payment of the insured sum.

“Claims can be submitted through our website, email, social media platforms, or by visiting any of our Zonal Offices,” he said.

He said that the NDIC had consistently played a crucial role in maintaining financial stability by ensuring depositors receive prompt compensation when banks failed.

“A recent example is the revocation of Heritage Bank’s operating license by the CBN.

“In line with its statutory mandate, the Corporation immediately began liquidation process, including verification and payment of insured deposits of up to a maximum of ₦5 million per depositor within four days.

“This swift action has enabled the payment of insured amounts to the majority of the bank’s depositors using their BVN as a unique identifier to locate their alternate accounts for payment.

“Those yet to be paid are largely depositors without BVNs or alternate accounts in other banks, or those with Post-No-Debit (PND) restrictions.

“Some accounts also have KYC issues, such as Tier 1 limits or name mismatches, while a few depositors may be unaware that payments have been made due to lack of transaction alerts on the alternate accounts,” he added.

Chief Odeiga Jideonwo, the President of the Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) commended  NDIC for its operations.

The president however, called on the corporation to improve on its level of compensation paid to depositors when banks went under.

“It is indeed a big challenge and we hope that the NDIC would increase the percentage of money paid to depositors depending on the total amount of deposit each customer has in the bank,” Jideonwo said.

He also pleaded that the CBN through its regulatory framework should make the work of NDIC easier by ensuring that chances of bank failure was reduced to the barest minimum and guard against depositors going through this negative experience. (NAN)

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Adeniyi, JAMB Registrar Seek Operational Synergy

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By Tambaya Julius, Abuja

The Nigeria Customs Service (NCS) and the Joint Admissions and Matriculation Board (JAMB) are considering areas of cooperation to improve their operations and strengthen service delivery.

The Comptroller-General of Customs, Adewale Adeniyi, received the JAMB Registrar, Professor Segun Aina, and his delegation at the Service’s Operational Headquarters in Maitama, Abuja, on Friday, October 16, 2026.

During the meeting, Adeniyi praised JAMB for its progress over the years, particularly its use of technology, timely release of examination results and improved placement of candidates into tertiary institutions.

He said the Board’s adoption of technology had made its operations more efficient and improved the process of placing candidates in higher institutions.

“The improvement JAMB has recorded over the years, particularly through the integration of technology into its operations, is commendable,” Adeniyi said.

He expressed confidence in Aina’s ability to sustain the gains and urged the Board’s management team to support his leadership.

The Customs chief also welcomed JAMB’s offer to make its electronic facilities available to the Service.

He explained that Customs officers serving across the country sometimes need designated centres to sit examinations and carry out other official activities.

He said access to the facilities would make it easier for the Service to organise such exercises when necessary.

On JAMB’s request for operational vehicles, Adeniyi acknowledged the importance of transportation to the Board’s nationwide activities.

He said the Service would explore possible ways to assist, depending on available resources and the applicable framework.

Aina said the visit was aimed at establishing a working relationship between the two organisations and identifying areas of mutual support.

“We want to formally come and introduce ourselves. We recognise the important work the Nigeria Customs Service is doing and are aware of the operations you carry out,” he said.

The JAMB registrar disclosed that the Board serves about five million people annually, operates Computer-Based Test (CBT) centres across Nigeria and conducts examinations in more than 15 countries.

He added that JAMB provides electronic services to government agencies and professional bodies, noting that its nationwide operations require adequate vehicles to reach communities, including local government areas, for candidate verification and monitoring of examination standards.

Aina stressed that effective transportation was necessary to ensure proper supervision, protect the integrity of examinations and maintain compliance with established procedures.

Both organisations expressed their willingness to explore practical areas of cooperation, share available resources and support each other in addressing their operational needs.

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NLC Suspends FCT Indefinite Strike

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The Nigeria Labour Congress (NLC), Federal Capital Territory (FCT) Council, has suspended its indefinite strike and directed all affected workers, particularly primary and secondary school teachers to resume work on Wednesday.

Chairman of the union in FCT, Knabayi Adalo announced the suspension in a communique issued in Abuja on Tuesday.

Adalo explained that the decision followed the conclusion of conciliatory talks between the labour union, the Nigeria Union of Teachers (NUT), the Management of the Federal Capital Territory Administration (FCTA), and the Federal Ministry of Labour and Employment.

He said that the resolutions were formally adopted at the end of an emergency State Executive Council (SEC) meeting held at the Labour House, Central Business District, Abuja.

According to him, the suspension was agreed upon in the spirit of social dialogue and industrial harmony following key concessions reached regarding teachers’ career progression and administrative directives.

“On vacancy provision for education officers, it was resolved that promotion vacancies for education officers will align with established positions declared by the FCT Education Secretariat.

“The council noted that an upcoming exit of directorate officers would clear the path for the upward mobility of eligible officers.

“Also, following approval from the FCT Executive Council and subsequent communication to the FCT Civil Service Commission on the 2025 promotion examination, a new date will be announced to allow qualified candidates to take the examination.

“Regarding the deployment of officers benefiting from the Harmonised Retirement Age for Teachers back into classrooms, stakeholders agreed to maintain the FCT Executive Council’s directive, stepping down the process until further notice,” he said.

Adalo, however, issued conditions to guarantee full compliance by authorities.

He said that the NLC would set up a dedicated monitoring committee tasked with enforcing the agreed terms within specified timelines.

He warned that any failure by the FCTA or relevant authorities to implement the agreements would trigger an automatic resumption of the strike without prior notice.

He informed workers who participated in the strike that the union had secured a binding agreement that no worker or teacher would face reprisals, penalties, or victimisation for participating in the industrial action.

He commended the resilience of FCT teachers and praised the solidarity displayed by affiliate unions, the Ministry of Labour, and the FCTA management during negotiations.

The NLC had on Oct. 7, directed all workers in the FCT Administration, including those in the private sector, to commence an indefinite strike over unresolved labour disputes and policy grievances affecting teachers. (NAN)

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APC Dismisses Alleged Plot to Assassinate Atiku

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The All Progressives Congress (APC) Presidential Campaign Council (PCC) has dismissed allegations that the Federal Government is plotting to assassinate former Vice-President, Atiku Abubakar.

The council’s spokesperson and Minister of Solid Minerals Development, Dele Alake, described the allegation as grave in a statement issued in Abuja on Tuesday.

Timi Frank, a member of the African Democratic Congress (ADC), had alleged that the Federal Government was plotting to assassinate Atiku.

Atiku is the ADC’s presidential candidate for the 2027 general elections.

Alake challenged Frank to substantiate the allegation, urging security agencies to invite him for questioning and investigate the claim.

“This is a grave allegation that Frank must prove. We thus urge security agencies to invite him to substantiate the allegation,” he said.

He urged Frank to provide any information in his possession to facilitate a prompt investigation, stressing that every credible threat to life deserved serious attention.

Alake categorically denied any involvement by President Bola Tinubu or the APC-PCC in an alleged plot against Atiku or any opposition figure.

He also dismissed claims that security personnel attached to Atiku had been withdrawn, insisting that the former vice-president remained protected by the police and Department of State Services (DSS).

According to him, Tinubu recently directed security agencies to reinforce protection for presidential, vice-presidential, governorship and deputy governorship candidates nationwide.

Alake maintained that security arrangements for Atiku had never been compromised, adding that the former vice-president enjoyed two levels of state-funded protection.

“As a former vice-president of Nigeria, Atiku enjoys two levels of state-funded security protection. President Tinubu has increased security protection for him as a presidential candidate,” he said.

Alake described Tinubu as a statesman and committed democrat who recognised opposition politics as essential to Nigeria’s 27-year-old democracy.

He recalled that Tinubu had led opposition politics for 16 years before the Peoples Democratic Party (PDP) lost power in 2015.

The APC spokesperson described Frank’s allegation as opposition rabble-rousing intended to heighten political tension.

He accused some opposition figures, including Frank, of using open letters and social media posts tagging foreign leaders and international organisations to attract attention.

Alake warned that politicians and their supporters might make provocative statements and frivolous allegations as the 2027 election campaigns gathered momentum.

He urged political parties, candidates and supporters to make factual, responsible public statements and avoid remarks capable of triggering unnecessary tension.

“Let our political competition be peaceful, lawful, and focused on the big issues that matter to Nigerians, not character assassination or wild, baseless allegations,” he said. (NAN)

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