By David Torough, Abuja

Defence Headquarters has attributed the incidence of terror to illegal mining activities across Nigeria.The Director, Defence Media Operation, Maj.-Gen. Edward Buba stated this while briefing newsmen on the operations of the Armed Forces in Abuja, yesterday.“There has been a link between illegal mining and acts of terrorism in the region, as well as foreign involvement in illegal mining,” Buba said.

He however said the troops were winning the war against terrorism as they have eliminated a total of 715 terrorists and rescued 465 kidnap victims in ground and air operations across the country in the month of April. Buba added that the troops also apprehended no fewer than 1,146 suspects during ambushes, raids, fighting patrols and other covert operations during the month.He said several enclaves of notable terrorist leaders and commanders including: Nasanda, Babaru, Kamilu Buzaru, Ali Dawud, Bakura Fallujah and Mallam Ari, across North West were bombarded and destroyed.According to him, other terrorist leaders and commanders engaged by air strikes include those of Mallam Yadee in Mariga Local Government Area of Niger and Bello Turji’s camp in Kagara forest located between Shinkafi in Zamfara and Isa LGA in Sokoto State.“All the surviving terrorist commanders and leaders are walking corpses as we would get them, sooner than later,” he vowed.Buba explained, “The synchronised strikes between the ground and air forces during the period under review resulted in over 715 terrorists neutralised, arrested 1,146 persons and rescued 465 kidnapped hostages.“Furthermore, troops recovered 937 assorted weapons, 23,034 assorted ammunition and denied the oil theft of an estimated sum over N2 billion.’’In the North Central, Buba said operations conducted by troops of Operation Safe Haven in several hot spots neutralised 32 terrorists and violent extremists and arrested 148 while 35 kidnap hostages were rescued.He said the troops equally recovered 23 AK47 rifles, 19 fabricated guns, 93 assorted arms, 788 rounds of 7.62mm special, 451 rounds of 7.62mm NATO and 256 assorted ammunition.The defence spokesman said that troops of Operation Whirl Stroke conducted operations to several criminal strongholds in April.“Overall, troops neutralised 60 terrorists, arrested 99 suspects and rescued 57 kidnapped hostages and also recovered 40 AK47 rifles, 60 assorted arms, 917 rounds of 7.62mm special, 896 rounds of 7.62mm NATO and 331 assorted ammunition,” he said.In the North East, the defence spokesman said troops of Operation Hadin Kai conducted operations into Sambisa Forest, Timbuktu Triangle and the Tumbus around the Lake Chad Region within the month.He said that the operations led to the elimination of 248 terrorists, arrest of 422, and rescue of 163 kidnapped hostages while a total of 714 Boko Haram and ISWAP terrorists and their families surrendered to troops.According to him, the recovered seized items include 208 AK47 rifles, 34 fabricated and 45 dane guns, 18 assorted arms, 3,672 rounds of 7.62mm special ammo, 2,058 rounds of 7.62mm NATO and 422 assorted ammunitions.In the North West, Buba said the troops of Operation Hadarin Daji maintained the momentum against terrorists hibernating in Bayan Ruwa and other enclaves.

He said the troops neutralised no fewer than 297 terrorist, apprehended 141 suspects and rescued 143 kidnap hostages within the period, in addition to the recovery of 182 AK47 rifles, 57 fabricated guns, 71 assorted arms, 4,192 rounds of 7.62mm special, 2,341 rounds of 7.62mm NATO and 556 assorted ammunition.Under Operation Whirl Punch, Buba said the troops neutralised 31 terrorists, arrested 69 suspects, rescued 17 kidnap victims, and recovered 20 AK47 rifles, 28 assorted arms, 538 rounds of 7.62mm special, 397 rounds of 7.62mm NATO and 1,200 assorted ammunition.In the South-South, he said the troops of Operation Delta Safe neutralised nine violent extremists, arrested 164 persons involved in crude oil theft and recovered 2,563,335 liters of crude oil, 254,620 liters of AGO, 1,050 liters of DPK and 8,000 liters of Premium Motor Spirit (PMS).He added that troops also recovered 56 assorted weapons and destroyed 74 wooden boats, 1,501 assorted ammunition and 76 illegal refining sites during the month.The defence spokesman added that in the South East, troops of Operation UDO KA neutralised 38 terrorists, arrested 103 suspects and rescued 50 kidnap hostages.According to him, 8 AK47 rifles, 23 pump action guns, 661 rounds of 7.62mm special, 34 rounds of 7.62mm NATO, 589 live cartridges, 225 assorted ammunition and 43 other equipment were recovered within the month under review.

By Tony Obiechina, Abuja

In a determined effort to enhance depositors’ protection and public confidence, the Nigerian Insurance Deposit Corporation (NDIC) on Thursday raised the maximum deposit insurance coverage for Deposit Money Banks from N500,000 to N5m.The Managing Director of NDIC, Mr Hassan Bello who made the announcement during a press conference in Abuja said the move is also in line with the Corporation’s commitment to achieve financial inclusion, and stability of the financial system.

Deposit insurance is the government’s guarantee that an account holder’s money at an insured bank is safe up to a certain amount.Bello explained that the NDIC’s Interim Management Committee (IMC) approved an increase of the maximum deposit insurance coverage from N500,000 to N5,000,000, in order to provide full coverage of 98 98 per cent of the total depositors compared with the current cover of 89.20 per cent.According to him, in terms of the value of deposit covered, the revised coverage would increase the value of deposits covered by deposit insurance to 25.37 per cent compared with the current cover of 6.31 per cent of total value of deposits.For Microfinance Banks (MFBs), Bello disclosed that the NDIC approved an increase of the maximum deposit insurance coverage from N200,000 to N2,000,000.He noted that this would provide full coverage of 99.27 per cent of the total depositors compared with the current level of 98.76 per cent and would increase the value of deposits covered by deposit insurance to 34.43 per cent compared with 14.38 per cent of total value of deposit, currently coveredFor Primary Mortgage Banks (PMBs), he announced an increase of the maximum deposit insurance coverage from N500,000 to N2,000,000, adding this would provide full coverage of 99.34 per cent of the total depositors compared with the current 97.98 per cent.He added that the move would increase the value of deposits covered by deposit insurance to 21.04 per cent compared with 10.77 per cent of total value of deposit, currently covered.For Payment Service Banks (PSBs), the NDIC approved an increase of the maximum deposit insurance coverage from N500,000 to N2,000,000 and this would provide full coverage of 99.99 per cent of the total number of depositors.It would also increase the value of deposits covered by deposit insurance to 43.10 per cent of the total value deposits from the current cover of 40.60 per cent.For subscribers of Mobile Money Operators, the NDIC approved an increase of the maximum Pass-through deposit insurance coverage from N500,000 to N5,000,000 per subscriber per MMO as the applicable coverage level for depositors of DMBs.Justifying the Corporation’s action, the NDIC boss said: “Findings indicate that high percentages of depositors ranging from 89.20% to 99.99% were fully insured under the maximum deposit insurance coverage levels across different bank categories (DMBs, PMBs, MFBs, and PSBs), meanwhile, a substantial portion of the total value of deposits, remain uninsured.

“We need to stress at this juncture that, high level of uninsured deposits posed a risk of bank runs. Indeed, the International Association of Deposit Insurers (IADI) Brief No. 9 of 2023 that examined the recent bank failures in the United States of America and Switzerland, concluded that, high levels of uninsured deposits in insured institutions might increase the likelihood of bank runs with dire impact on the stability of the financial system.”Based on these considerations, and in line with our commitment to enhancing depositors’ protection, public confidence, financial nclusion, and stability of the financial system, I am pleased to announce that the NDIC’s Interim Management Committee (IMC), during its 18th meeting held on April 24th and 25th, approved anincrease in the maximum deposit insurance coverage levels for all licensed deposit-taking financial institutions with immediate effect”.Meanwhile, reacting to the development, Director of Capital Market Studies, Nasarawa State University, Keffi, Professor Uche Uwaleke said the action of the NDIC is a welcome development. In a statement made available to Daily Asset Newspaper in Abuja, the first Professor of Capital market said:”The increase in the maximum deposit insurance coverage level from N500,000 to N5 million for DMBs and from N200,000 to N2million for Microfinance Banks is a welcome development against the backdrop of elevated inflation and naira depreciation.”This would no doubt boost confidence in the nation’s banking sector as well as financial inclusion”.

By Ubong Ukpong, Abuja

Speaker of the House of Representatives Tajudeen Abbas has said that the House is committed to working with all stakeholders to end open defecation and ensure a healthy living environment for all Nigerians.Abbas stated this during a Public Hearing by the House of Representatives joint Committees on Environment, Water Resources, Ecologically Fund, Works and Emergency and Disaster Preparedness, held in Abuja.

He noted that the House recognises the devastating impact of erosion and other environmental factors on the lives of the citizens. The Speaker urged all relevant agencies to step up efforts in achieving the goal of ending the menace by 2025The Minister of State for Environment, Iziaq Salako lamented Nigeria’s current state in the agenda of ending open defecation nationwide, noting that the country is lagging behind.The Minister advocated for the provision of more funding in other to ensure effective implementation of policies to end open defecation in the country.Mr Salako urged governments at all levels to empower environmental health officials to carry out their regulatory responsibilities.He noted that Nigeria can scale up its activities by empowering security agencies working in the area of ending open defecation.In his remarks, the Chairman of the joint committee, Pondi Gbabojor emphasized on the need for the government and all relevant agencies to intervene and take deliberate actions to mitigate the living conditions of their constituents.He urged government at all levels and private individuals to embark on aggressive rural water projects that will ensure that each community is provided with potable water and functioning toilet facilities.He also said that the public hearing was convened, with the hope of creating a platform for stakeholders to engage in constructive dialogue, share insights, and propose actionable recommendations to address these pressing issues.“It is an opportunity for us to harness collective wisdom, expertise, and resources towards finding lasting solutions that will positively impact the lives of millions of Nigerians.“We hereby call on the Government and its Agencies at all levels, especially those whose statutory duties border on conservation of our environment; provision of succour to victims of disasters; environmental remediation; and infrastructure providers to intervene and take deliberate action to mitigate the living conditions of our constituents.“As representatives of the people, it is our duty to call on the Authorities of the State to address these challenges comprehensively, and ensure the implementation of sustainable solutions that prioritize the safety and well-being of our citizens,” Gbabojor said.The Public Hearing of the Committees on Environment, Water Resources, Ecological Fund, Works and Emergency & Disaster Preparedness also focused on the need to End Open Defecation; Erosion in Alur-uno Community in Enugu State; and Erosion in Aguata Community in Anambra State.Stakeholders who attended the hearing proffered solutions on how to curb the environmental challenges affecting Nigeria.