President Tinubu Will Commission the Newly Constructed Gomani – Dafa – Yangoji Road Today

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The Federal Government has reaffirmed its commitment to deepening citizen engagement as a critical pillar of macroeconomic stability, while spotlighting far-reaching reforms in the banking sector that are strengthening depositor protection, reinforcing financial system resilience and advancing the Renewed Hope Agenda.

The commitment was made at the Q2 2026 Citizens and Stakeholders’ Engagement Session convened by the Federal Ministry of Finance in Abuja.

Speaking during the session, the Permanent Secretary, Federal Ministry of Finance, Mr. Raymond Omachi, said the engagement reflects government’s deliberate commitment to transparency, accountability and inclusive governance by creating a platform through which citizens and stakeholders can engage directly with ongoing economic reforms, government priorities and institutional performance.

He noted that the Federal Ministry of Finance occupies a strategic position in the management of the nation’s public finances and remains committed to implementing fiscal policies that restore macroeconomic stability, strengthen public financial management and place the economy on a sustainable growth trajectory.

According to him, sustained engagement with citizens has become indispensable to effective policy implementation, improved service delivery and the consolidation of public confidence in government institutions.

He added that the initiative also provides an avenue for Ministries, Departments and Agencies (MDAs) to demonstrate progress in delivering Presidential directives and ministerial priorities.

Mr. Omachi highlighted the strategic role of the Nigeria Deposit Insurance Corporation (NDIC) in safeguarding financial system stability, describing the Corporation as a critical institution responsible for protecting depositors, promoting confidence in the banking industry and preserving the soundness of Nigeria’s financial system.

Presenting the Corporation’s scorecard, the Managing Director and Chief Executive Officer of the NDIC, Mr. Thompson Oludare Sunday, outlined a series of reforms and milestones that have significantly strengthened the nation’s financial safety net.

He disclosed that deposit insurance coverage was increased tenfold in 2024, raising the maximum insured amount for commercial bank depositors from ₦500,000 to ₦5 million, with 98.98 per cent of depositors now fully protected under the scheme.

He further revealed that the Corporation has significantly accelerated depositor reimbursement, paying insured depositors within four days following the closure of Heritage Bank and within 72 hours after the revocation of the licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, demonstrating its readiness to protect depositors and sustain confidence in the financial system.

According to him, the NDIC currently provides deposit insurance coverage for more than 281 million depositor accounts across 914 licensed financial institutions, underscoring the breadth of protection available within Nigeria’s banking ecosystem.

Mr. Oludare also announced that the banking sector recapitalisation exercise has attracted over ₦4.61 trillion in fresh capital, considerably strengthening the resilience of financial institutions and enhancing their capacity to finance productive sectors of the economy.

On the Corporation’s contribution to public finance, he disclosed that the NDIC has remitted over ₦505.53 billion into the Consolidated Revenue Fund since 2023, bringing its cumulative remittance to more than ₦950.52 billion.

He described the achievement as evidence of prudent financial management, operational efficiency and the Corporation’s sustained contribution to national revenue generation.

He further explained that the NDIC Act, 2023 (Act No. 33), provides the Corporation with four core mandates: Deposit Guarantee, Bank Supervision, Distress Resolution and Bank Liquidation.

He said these statutory responsibilities continue to underpin the Corporation’s efforts to protect depositors, maintain financial stability and support national economic development.

In his Vote of Thanks, the Director of Economic Research and Policy Management Department, Mr. Othma Abubakar Musa, commended the Honourable Minister of Finance and Coordinating Minister of the Economy, as well as the Permanent Secretary, Mr. Raymond Omachi, for their strategic leadership and steadfast support for reforms aimed at strengthening fiscal sustainability and advancing inclusive economic growth.

He also appreciated participants for their active engagement and reaffirmed the Ministry’s commitment to sustaining stakeholder dialogue, strengthening public confidence in ongoing economic reforms and ensuring that citizens remain active partners in advancing Nigeria’s economic stability, fiscal resilience and inclusive national development.

 

A federal high court in Abuja has ordered the Independent National Electoral Commission (INEC) to proceed with the registration of the All Democratic Alliance (ADA) and release its access code to the Akin Ricketts-led leadership of the political association.

In October 2025, INEC announced that ADA and seven other associations, out of the 14 pre-qualified seeking registration as political parties, had successfully completed the upload of all required information and documentation.

The commission said the next stage of the registration process for the eight associations would be the detailed assessment and verification of the information and documents they submitted.

The associations are Citizens Democratic Alliance (CDA), All Democratic Alliance (ADA), Abundance Social Party (ASP), African Alliance Party (AAP), Democratic Leadership Alliance (DLA), Green Future Party (GFP), National Democratic Party (NDP) and Peoples Freedom Party (PFP).

In a judgement delivered on Monday, Peter Lifu, the presiding judge, directed INEC to release the access code to ADA’s interim secretary within 72 hours.

After reviewing the submissions of all parties, the judge nullified all steps and actions taken on behalf of ADA by Umar Ardo.

 

The judge faulted the commission for issuing the access code to Ardo, whom he said was not the recognised acting secretary of the association.

Lifu declared INEC’s action “illegal, wrongful, null and void”.

The judge also ordered the commission to reopen its portal for one week to enable the plaintiff to upload the documents required for the registration process, including the party’s membership register.

The plaintiff, through Stephen Atabo, its counsel, sued INEC and Ardo, seeking a declaration that the electoral commission violated the law by issuing the access code to the second defendant.

The plaintiff argued that Ardo is neither the pro tem national chairman nor the pro tem national secretary of the association.

The suit further stated that the information on INEC’s portal differed from the details contained in the plaintiff’s letter of intent and urged the court to declare the information illegal, unlawful, null and void.

The plaintiff also sought an order directing INEC to release the access code to enable the association to upload the documents required for its registration as a political party.

The plaintiff also asked the court to compel INEC to register the association as a political party and issue it a certificate of registration.

Justice Lifu also directed INEC to extend the May 10, 2026, deadline for the submission of the party’s digital membership register and the May 30, 2026, deadline for the submission of the candidate list.