The Nigeria Deposit Insurance Corporation (NDIC) said it had paid over N100 billion as liquidation dividends to depositors of closed Deposit Money Banks (DMBs), in the last 30 years, with amount in excess of insured deposits.
The NDIC Managing Director, Allhaji Umaru Ibrahim disclosed this on Saturday in Sokoto
during the corporation’s 30th Anniversary celebration organized by the Sokoto Zonal Office.
The Managing Director, who was represented by Allhaji Hashim Ahmad, said that the total liquidation dividends declared by the Corporation for shareholders of DMBs-in-liquidation stood at over N4 billion.
“To date, the NDIC has paid the cumulative sum of over N8.25 billion as insured amount to 442,999 depositors of closed DMBs.
“The sum of over N100 billion has been paid by the corporation as liquidation dividend to depositors of closed DMBs with amount in excess of insured deposits.
“Also, the corporation had paid a cumulative sum of over N2.97 billion to 83,415 depositors of Micro Finance Banks (MFBs), in the system,” he added.
According to the Managing Director, in the past 30 years, not only has the corporation discharged its role as an active player in the Nigerian financial safety-net.
“It also guaranteed the funds of depositors up to the maximum limit stipulated under its enabling Act.
“In conjunction with the Central Bank of Nigeria (CBN), the Corporation has also meticulously discharged its role as a risk minimizer through its involvement in the supervision of insured institutions,” he said.
He said over the years, the corporation was able to evolve and introduce different failure resolution options such as the Purchase and Assumption mechanism as well as Bridge Bank.
“This ensures minimal disruption to the payment, in handling distressed financial institutions to the admiration of other Deposit Insurance Agencies in Africa and the rest of the World,” Ibrahim said.
He assured that the corportion will continue to support the laudable economic policies and programmes of the Federal Government, just as it celebrates its 30th anniversary of protecting depositors in the country.
He said that the Corporation remains resolute and fully committed to the diligent discharge of its role as an active component of the Nigerian financial safety-net.
“This is particularly in the area of engendering confidence and contributing to financial system stability.
“However, the NDIC will in the years ahead continue to partner and collaborate with relevant local and international agencies in that regard,” he said.
The NDIC board member, Alhaji Bello Garba, stated that the Corporation had been able to demonstrate the uncommon capacity for efficiency and effective performance.
“This is to the extent that as we gather here today, we can confidently state that it has effectively implemented its mandate,” he said.
Also speaking, the Sokoto State Deputy Governor, Alhaji Mannir Dan’iya, represented by the Commissioner of Environment, Alhaji Sagir Bafarawa, pledged the state government’s continuous support to the NDIC Zonal Office in Sokoto.
The Sokoto Zonal Controller, Mr. Johnson Anifowose, reaffirmed the commitment of the zonal office to continue to discharge its duty of ensuring financial system stability.
Edited by Tukur Muntari.https://nnn.ng/ndic-pays-n100bn-liquidation-dividends-in-30-years-md/
Gov El-Rufai urges NIPSS Alumni to find solutions to banditry
Gov. Nasiru El-Rufai of Kaduna State on Friday, urged Alumni Association of the National Institute for Policy and Strategic Studies to use their expertise in finding solutions to banditry in the country.
The governor, who received members of the association in Kaduna, urged them to make recommendations to the Federal Government for a holistic action to tackle the problem.
“Step into this and bring all your experience to guide the government as to what to do to solve this problems as the National institute is the most prestigious public policy institute in the country,” he said.
On his administration, El-Rufai said that he dedicated his first tenure to improving human capital, and now focused on infrastructure development and opening up the state more for business investments and job creation.
According to him, in the first quarter of the year, Kaduna state attracted investment far ahead of Lagos.
“We have expand health care system, education, social development and Kaduna has lowest of out of school children in the northwest.”
While appreciating the NIPSS Alumni for the visit, El-Rufai reiterated that he has done all he can to deliver social services to the people and bridge the infrastructural deficit in the state.
“Kaduna state is an old state which all successive governments inherited all the basic structure of governance from hotel, airport, secretariat and many more that made successive governments more relaxed
“But newer states that had to start from scratch came to overtake Kaduna state interms of infrastructural development because they had to build their universities, polytechnics, hotels and so on,” he noted.
According to him, one of the key challenges of his administration was to upgrade infrastructure in Kaduna, the state capital, which is a home for all.
Earlier, President of the NIPSS Alumni, MD Abubakar, said the visit was to commiserate with the government on the needless deaths of so many citizens as a result of banditry and ethno-religious conflicts.
“I said needless deaths because some of the issues that were the remote and immediate causes of this ugly situation could have been averted if Nigerians as a whole had fully imbibed the culture of dialogue in conflict resolution and appreciate the benefits of peaceful coexistence,” Abubakar said.
He called on every patriotic Nigerian to support the Federal and State Governments, as well as the security forces to
eradicate all such unwholesome activities in our country.
“As AANI, we are in full support of your peace and security efforts which we believe will yield results, ” he said.
The group expressed its commitment to the peace and development of Kaduna State and Nigeria in general, and
appealed to all Nigerians and the media to be more cautious in reporting national security issues.
“We also wish to emphatically state that AANI supports governor El-rufai’s efforts in repositioning public schools in Kaduna State, ” he added./
Edited By: Benson Iziama/Maharazu Ahmed
NAN MD vows to overhaul agency’s multimedia operations
Ponle, who said this in his address during a meeting with the multimedia staff of the agency on Monday in Abuja, promised to prioritise the unit to promote productivity in NAN.
According to him, the agency is in a new era and therefore, implored the multimedia staff to key into modern operations to achieve targets.
Ponle said: “I implore you to tap into the new era, because we are scaling new operational heights and we are going to use the multimedia as our entry point.
“You can only be my friend if you work passionately and committed; we shall ensure that we provide you with modern equipment, to make your job easy.
“In terms of welfare, we will make sure you have all your entitlements within available resources when due, whenever there is money, there is no reason not to give you what you earn.
“ICT is the in-thing and we are going to tap into it to make the best of it; you will receive training locally.
“If possible, if we have to train you outside the country to get the best we will do it; we will do all we can within available resources at our disposal,” he said.
The MD promised to leverage on legacies of late Mrs Oluremi Oyo, a former MD of the agency, while urging the staff to always be factual and show empathy in their reportage.
He explained that the agency would work closely with relevant organisations to train its staff and to promote efficiency in the organisation.
He, however, reiterated plans to do everything within the ambit of his administration to overhaul the transportation system for staff of the agency and also empower them to be more productive.
Responding, the Head of Multimedia, Mr Felix Ajide, expressed appreciation for Mr Ponle’s plans to prioritise the multimedia unit and assured the MD of the staff support to achieve desired goals.
He described the Multimedia unit as an important arm of the agency, saying more needed to be done through investment in the unit to maximise its potentials.
“We were asked to make some input into the budget department which includes drones, cameras and virtual studios to serve multipurpose, and that will go a long way toward repositioning NAN.
“We have 40-clients from television stations and currently about 10 of the paid; on photo we have 75-clients and we have 35 radio station clients, who are receiving from us every day.
“Whenever they have a need, they come and we cannot afford to fail them,” Ajide said.
Ponle, a former Assistant Editor-in-Chief of the agency from 2001 to 2007, rose to the rank of Deputy Editor-in-Chief and later became Managing Editor and Director of the agency in 2011 till his retirement in 2013.
Edited By: Chioma Ugboma/Wale Ojetimi
NDPHC to add 125 megawatts to national grid to boost electricity
The Niger Delta Power Holding Company (NDPHC) says it plans to add 125MW of electricity to the national grid to boost power supply in the country.
The Managing Director of NDPHC, Mr Chiedu Ugbo, disclosed this in Abuja on Monday, when Gov. Aminu Masari of Katsina State visited the company’s headquarters.
Ugbo said that NDPHC in the next two or three months would bring about 125 megawatts to the national grid.
“We have the Gabarain Power Plant in Bayelsa which is one of the plants in our portfolio, we are in the second phase as we just finish construction and it is undergoing technical commissioning.
“And we expect to finish that in the next two or three months and add that to the grid and we have gas to power the unit.
“We have done several projects in transmission and several projects in distribution; we are virtually in every state and many local governments of the country.
“As at today, the company has delivered more than 4000 MW of its original mandate and they are all gas fired plants,” he said.
The MD said that the company had executed about 12 projects in Katisna State, adding that the company was considering doing more.
“We have a very vibrant renewable department now and we are looking at Katsina State and some other parts of the North to set up power project utility scale and even for clusters as well.
“We are working on that seriously and we are in the process of scooping now as things unfold you get to know,” he said.
Ugbo said that the company had deployed over 2000 solar home systems to some parts of Katisna State.
He said that under the current Economic Sustainability Plan by the President Muhammadu Buhari, five million more home solar systems were to be deployed.
He said that NDPHC had target to deploy at least two million out of the five million home solar systems, adding that the company was implementing the project with the Rural Electricity Agency.
The governor said that in spite of the electricity market liquidity challenge, NDPHC was still intervening in the distribution and transmission value chain, and urged the firm to deliver more projects beyond 12 that had been executed in the state.
“We have come to ask for more. Principally, I am here to thank you on behalf of Katsina State and to assure you of whatever support you will need from us.
“Katsina State will support you because you have done so many projects for us and we are seeking for more.
“Also, whatever intervention you may require from us either as a group of Nigeria Governors Forum or a representative of the board we assure you that the state will support and I hope this cooperation continues,”he said.
Edited By: Remi Koleoso/Grace Yussuf
NGO urges Nasarawa gov’t to prioritise Adolescent Sexual, Reproductive Health
Ighodo, represented by Oyebukola Tomori-Adeleye, Innovations and Partnership specialist of the organisation said that giving attention to ASRH would equip adolescent girls with the requisite knowledge to make informed decisions to achieve their dreams.
He explained that SFH works in partnership with communities, government, donors and the private sector for universal health coverage and social justice for all.
Ighodo added that SFH implements intervention projects in reproductive health, , malaria, maternal, new- born and child health, water purification as well as adolescent sexual reproductive health.
The MD lauded the Nasarawa state government for creating the enabling environment for the implementation of the A360 project in the state.
Also speaking at the meeting, Mrs Anita Elabo, Northern Regional coordinator of SFH, explained that the A360 project focuses on improving the livelihood, sexual and reproductive health of adolescent girls in Nigeria.
She said that the project which began in 2016, was being implemented in eight states – Lagos, Ogun, Oyo, Osun, Edo, Delta, Kaduna and Nasarawa.
She said that the project designed in partnership with adolescents girls and the communities had two components- “9ja Girls” for the unmarried adolescent girls and “Matasa Matan Arewa” for the married adolescent girls.
According to Elabo, the primary goal of the project is to improve the sexual and reproductive health outcomes by making modern contraception relevant and accessible to adolescents and young people who have unmet need, thus increasing modern contraceptives prevalence rate and reducing maternal mortality rate.
She said that the “Matasa Matan Arewa” component of the project was implemented in Karu and Doma Local Government Areas in Nasarawa state where 10, 032 married adolescent girls were reached with Sexual and Reproductive Health (SRH) services and life building information and skills aquisition.
According to her, 7,537 of the married adolescent girls reached, visited health facilities to access services and adopted a modern contraceptive method, while 1,106 others did not adopt any method.
She further explained that SFH engaged male Interpersonal Communication agents (IPCAs) to reach out to the husbands of the adolescent girls in their relaxation spots, to educate and convince them on why their wives should use contraception for safe child birth spacing.
She said that safe spaces were created in public and private health facilities for adolescent girls to access services such as quality sexual reproductive and counselling by trained youth-friendly providers.
She added that the adolescent were also empower through vocational skills acquisition to gain financial freedom and make informed choices.
In his remarks, the state Commissioner for Health, Pharm. Ahmed Yahaya, commended SFH for implementing the project in the state.
Yahaya, represented by the Director for Public Health in the Ministry of Health, Dr Ibrahim Adamu, said the intervention of the SFH in filling the space for development of the adolescent girls in the state, was the first and had encouraged other partners to look in that direction.
He said that the state government would scale up the project to two more Local Government Areas as part of its sustainability plan.
According to him, the government will leverage on the success of the A360 project to further break the cultural and religious barrier to ASRH in the state.
Also, Dr Mohammed Adis, Executive Chairman, Nasarawa Primary Health Care Development Agency (NAPHCA) said the agency was committed to enhance the wellbeing of adolescent girls in the state.
He said that there was already a budgetline for ASRH in the agency’s 2020 budget, saying that it would be sustained.
The News Agency of Nigeria reports that some of the beneficiaries of the A360 project in the state testified of the benefits at the closeout meeting
Mrs Khadija Mohammed from Doma, said she got married at 15 years and had to undergo Ceasearean Section (CS) for the birth of her child.
She said her husband introduced her to the “Matasa Matan Arewa” programme and they both agreed to adopt a contraceptive method.
She also said that she learnt how to make body cream through the vocational skills acquisition programme.
Mr Tanimu Dahiru said that he heard about the programme from an IPC agent at a relaxation spot and introduced it to his wife, who initially refused but later accepted to visit a health facility to access family services.
He said that the family was living happily and that skills his wife learnt from the programme had improved their livelihood.
Edited By: Isaac Ukpoju