NEWS
Senate Passes NDIC Bill to Safeguard Bank Depositors’ Fund
The Senate on Tuesday at plenary passed a bill to strengthen the capacity of the Nigeria Deposit Insurance Corporation’s(NDIC) to safeguard depositors fund and strengthen financial institutions in Nigeria.
This followed adoption of report of Senate Committee on Banking, Insurance and other Financial Institutions on the bill titled, “Nigeria Deposit Insurance Corporation Act 2023″
The bill was sponsored by Sen.
Adetokunbo Abiru (APC-Lagos) and all the members of the Committee.Abiru while presenting the report said the bill would make the NDIC, more effective, safeguard its independence, autonomy and bring it in line with current realities and best practices.
He said the bill consolidates the power of the President to appoint the Chairman and members of the board of the NDIC while the Central Bank of Nigeria (CBN) which hitherto recommends the appointees, would now concentrate on supervising the corporation.
According to him, the NDIC based on the new act will focus on the examination of the banks.
He said: “the Nigerian Deposit Insurance Corporation (Amendment) Bill, 2024, is thus a critical piece of legislation aimed at strengthening the Nigerian financial system.
“The proposed amendments will enhance the NDIC’s capacity to safeguard depositors, ensure the stability of financial institutions, and promote trust in the banking system.
“Given the rapidly evolving nature of the financial sector, this Bill represents a timely response to the challenges and opportunities that lie ahead.”
He said, “to further empower the corporation by guaranteeing its independence in performing its statutory functions in line with Section 1 (3) of the principal Act.
“The principal (2023) Act curiously restricts the President’s power to appoint the Managing Director and Executive Directors and provides that they are to be to persons recommended by the Central Bank of Nigeria Governor.
“The 2024 bill now seeks to amend the provision to bring it in line with and in consonance with Mr President’s power of appointment as enshrined in the Constitution of the Federal Republic of Nigeria 1999 as amended.
“The provisions of the principal Act which makes the Permanent Secretary, Ministry of Finance the Chairman of the Board is also being reviewed.
“This is because the workload and busy schedule of that office is such that makes such appointment untenable.
“The importance of the need for the Minister of Finance to constitute an Interim Management Committee for the Corporation within 30 days after the expiration or termination of the tenure of the Board is also introduced in the bill.
“This is to forestall the recent situation where the Corporation faces challenges in its operations as a result of the absence of a board.”
Abiru said there was consensus among stakeholders on the importance of the NDIC as it was set up for the purpose of protecting depositors fund, guarantee settlement of insured funds .
This, he said would help maintain financial system stability.
“Considering the above therefore, the general consensus among stakeholders was that it is important that the legal framework is reviewed.
“This is to make the corporation more effective to discharge its functions, safeguard its independence and autonomy and to bring it in line with current realities and best practices.
“This is particularly because the Corporation plays a vital role in safeguarding the interests of depositors and promoting confidence in the financial sector.
“The evolving challenges in the global and domestic banking environments necessitate the amendment of the current law to keep pace with these developments and ensure the NDIC remains fit for purpose.”(NAN)
NEWS
Tinubu’s Re-election: Don’t Allow Repeat of 2023, Tompolo Tells Lagos
Leader of the PBAT Door-to-Door Movement, Government Ekpemupolo, has advised the people of Lagos State not to allow a repeat of what played out in the 2023 election in the state in the 2027 presidential election.
He called on the people to take advantage of the ongoing continuous voter registration exercise by the Independent National Electoral Commission (INEC) and get their Permanent Voters Cards (PVCs) to enable them vote massively for one of their own, President Bola Ahmed Tinubu.
Ekpemupolo, widely known as Tompolo, who was represented by Kestin Pondi, gave the charge in Lagos, on Tuesday, during a campaign rally for Tinubu’s reelection, during which he also presented 57 campaign vehicles to state coordinators.
“What happened in 2023 must not repeat. He must win convincingly in 2027,” he said.
He described Tinubu as a selfless and courageous leader who did not care about his reelection but went on carrying out bold reforms that are already yielding results and which many Nigerians are benefitting from.
Ekpemupolo pointed out that, the fact that Lagos is today referred to as a city for all Nigerians is all thanks to the foundation laid by President Tinubu, which successive governors have built on, and now that he has a higher responsibility, there was the need for his own people to stand solidly behind him.
“Lagos is the city for all Nigerians because someone stood firm to restructure and reform it. “From the time he came into office in 1999 up to 2007 that he left, Lagos was the envy of other states.
“Today, he has a higher responsibility, an opportunity to replicate the Lagos success story in Nigeria through reforms. There is massive development across the states today because reforms are working,” he stated.
Ekpemupolo said to ensure that the reforms continue, the people of Lagos and all Nigerians must take the message to every door and everyone that Tinubu is the man for Nigeria.
Also speaking, Governor Babajide Sanwo-Olu, pointed out that Nigeria was attaining economic stability under the Tinubu-led administration.
He advised the people to ignore the antics of opposition politicians who have no plan for Nigeria, but only desperate to win elections and have been moving from one party to another, demonstrating a lack of consistency, which he emphasised was bad quality for any leader.
Sanwo-Olu said Tinubu has constructed more roads than previous administrations in three years, given succour to students, increased minimum wage and made money available for payment of pensions.
“Why won’t we vote for him? The entire Lagos is for Tinubu. All our votes are for Tinubu. You’ve done it before, you’ll do it again. “We will touch every corner of Lagos with our message to reelect Tinubu. Go out and convince everyone that Tinubu is the candidate to vote,” the governor stated.
Earlier, National Coordinator of the movement, Sunday Asuku, urged the people of Lagos to go out and get their PVCs to enable them vote massively for Tinubu.
“We must stand our ground and deliver Tinubu with PVCs, not with guns or intimidation. Lagos must not put their son, Tinubu, to shame,” he stated.
He said in the 2027 presidential election, Nigerians must make a bold statement to retire “serial contesters” who he described as “enemies of Nigeria.”
NEWS
Bayelsa Starlets Academy Set for FC Prague Test
From Mike Tayese, Yenagoa
Bayelsa Starlets Academy will like to strengthen their campaign in the ongoing N-Youth League when they take on FC Prague Nigeria of Abia State today Tuesday, October 13, 2026, at the Samson Siasia Stadium, Yenagoa, with kick-off scheduled for 10:00 a.
m.The encounter promises to be an exciting contest as both sides seek to make a strong statement in the competition.
The Yenagoa-based academy, which is affiliated to Spanish football giants, FC Barcelona, will be eager to showcase their growing quality, tactical discipline and attacking strength against a determined FC Prague Nigeria side.
Bayelsa Starlets Academy have continued to nurture young football talents through structured training and competitive football, providing promising players with a platform to showcase their abilities and pursue greater opportunities in the game.
The fixture is expected to test the Starlets’ organisation, creativity in midfield and efficiency in front of goal as they seek to impose their style of play on their opponents.
Having emerged as champions of the Nationwide League One (NLO) U-19 Youth League, Bayelsa Starlets will be keen to build on that achievement and maintain their impressive development trajectory.
For the academy, the encounter represents yet another opportunity to strengthen team cohesion, gain valuable competitive experience and demonstrate the progress made under its development programme.
The outcome could prove significant to both teams’ ambitions as the N-Youth League continues to provide a platform for the development and exposure of emerging football talents.
Speaking ahead of the fixture, Bayelsa Starlets Academy Head Coach, Gomo Onduku, expressed confidence in his team’s readiness for the challenge, noting that the players have continued to improve as preparations progressed.
Onduku added that the team has worked hard in preparation for the encounter and was determined to secure victory against FC Prague Nigeria.
Similarly, Bayelsa Starlets midfielder, Tengi Ibuama, said the team would approach the fixture with the seriousness of a cup final, stressing that their priority was to win every match in the zone.
The Starlets will now look to translate their preparations into a strong performance on home soil as they seek to maintain their positive momentum in the N-Youth League.
NEWS
FG Strengthens Mortgage, Land Systems for Affordable Housing
By Raphael Atuu, Abuja
The Federal Ministry of Housing and Urban Development has advocated for stronger land, mortgage and institutional systems to accelerate inclusive housing delivery across Nigeria.
This is the key message at the ongoing 15th meeting of the National Council on Land, Housing and Urban Development (NCLHUD), holding in Sokoto, October 12th – 16th, 2026
Under the theme: “Strengthening Mortgage, Land and Institutional Systems for Accelerated and Inclusive Housing Delivery.
”, the meeting is a gathering of stakeholders in the built environment from both Federal and States, including professional and regulatory bodies in the housing sector.In his remarks, Director of Planning, Research and Statistics of the Ministry,. Mukhtar Iliyasu Umar, noted that the Council provides an important platform for stakeholders to examine challenges in the housing sector and develop practical solutions to improve housing delivery nationwide.
He stated that the meeting is convening a three-stage deliberation process for the consideration, harmonisation and adoption of policy recommendations aimed at addressing critical challenges in Nigeria’s housing and urban development sector.
He emphasised the importance of each stage of the deliberations, noting that the quality of the final decisions would depend largely on the depth of technical analysis, the quality of recommendations and the effectiveness of the harmonisation process.
Sokoto State Commissioner for Lands, Housing, Survey and Country Planning, Barrister Nasiru Aliyu Dantsoho, said the theme was strategically chosen to ensure that housing policies are designed to promote access to decent and affordable housing for every citizen.
He expressed concern over Nigeria’s housing deficit, estimated at over 14.5 million units, noting that approximately 50.6 million people live in unsafe housing conditions. Describing the situation as worrisome, Dantsoho called for urgent and sustained interventions to address the country’s housing challenges.
Accordingly, the Commissioner advocated a reduction in mortgage interest rates from the current double-digit levels to single-digit rates, as well as an extension of mortgage repayment periods from 25 to 35 years, saying that the measures would make mortgage repayments more affordable and improve access to homeownership for Nigerians.
He also called for the expansion of mortgage financing beyond the formal public and private sectors to accommodate Nigerians in the informal sector, particularly traders, farmers, and other self-employed individuals who constitute a significant proportion of the population but are often excluded from existing housing finance policies.
Bar Dantsoho further urged financial institutions, including the Federal Mortgage Bank of Nigeria (FMBN), to provide adequate funding and introduce flexible repayment arrangements tailored to the income patterns of different categories of borrowers.
He emphasised the importance of digitising land administration systems across the states to enhance efficiency, promote transparency, and facilitate access to land for housing development.
On his part, the permanent Secretary, Sokoto state ministry of lands and housing, Engr. Ahmad Moyi Tambuwal highlighted the state’s ongoing efforts to improve land administration, including the digitisation of land records, reduction in the time required to process Certificates of Occupancy and the provision of land for mass housing projects under the Federal Government’s Renewed Hope Housing Programme.
He noted that “the delivery of adequate and affordable housing requires more than the construction of houses. It also depends on efficient land administration, accessible mortgage finance, effective policies and stronger collaboration among government institutions and private-sector stakeholders”
NCLHUD is a forum for participants to share experiences, harmonise policies, identify institutional gaps and develop practical recommendations that would improve land administration, expand access to housing finance and accelerate housing delivery across the country.
Participants at the meeting were encouraged to develop recommendations that address pressing challenges in land administration, housing finance, institutional coordination and sustainable urban development across the country.
The reports and recommendations from the technical sessions will be harmonised for consideration at subsequent stages of the Council meeting.
The Ministry reaffirmed its commitment to strengthening the housing sector and promoting accessible, affordable and inclusive housing for Nigerians. It expressed confidence that the collective contributions of participants would provide a sound foundation for meaningful deliberations and effective decisions by the Council.


