Connect with us

News

Just in: 87 Nigerian banks revoked by CBN to go under NDIC hammer

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

 

The Nigerian Deposit Insurance Corporation (NDIC) will, at the expiration of its notice released on August 23, 2024, approach a Federal High Court to grant the order to dissolve 87 microfinance banks and primary mortgage banks in the country.

The Corporation disclosed this in a statement titled “Notice of intention to terminate liquidation activities” published on its website.

The statement reads, “NOTICE is hereby given to the General Public that the Nigeria Deposit Insurance Corporation (NDIC), in its capacity as the Liquidator of the under-listed closed Microfinance Banks and Primary Mortgage Institutions, in accordance with the provisions of its enabling law and other relevant laws, will at the expiration of thirty (30) days from the date of this publication present an application to the Federal High Court to obtain dissolution orders of the closed banks and to release/discharge Corporation as Liquidator of the banks.”

Advertisement

SEE LIST: NDIC to liquidate 87 Nigerian banks revoked by CBN

The Nigerian Deposit Insurance Corporation (NDIC) will, at the expiration of its notice released on August 23, 2024, approach a Federal High Court to grant the order to dissolve 87 microfinance banks and primary mortgage banks in the country.

The Corporation disclosed this in a statement titled “Notice of intention to terminate liquidation activities” published on its website.

The statement reads, “NOTICE is hereby given to the General Public that the Nigeria Deposit Insurance Corporation (NDIC), in its capacity as the Liquidator of the under-listed closed Microfinance Banks and Primary Mortgage Institutions, in accordance with the provisions of its enabling law and other relevant laws, will at the expiration of thirty (30) days from the date of this publication present an application to the Federal High Court to obtain dissolution orders of the closed banks and to release/discharge Corporation as Liquidator of the banks.”

Advertisement

See Affected Banks and their dates of licence revocation

1. Galilee MFB, Abuja – 26 September 2018

2. Pinnacle MFB, Abuja – 4 February 2014

3. Royal Children Heritage MFB, Abuja – 26 September 2018

Advertisement

4. Savings Corp MFB, Abuja – 26 September 2018

5. Spec MFB, Abuja – 26 September 2018

6. Imad MFB, Abuja – 26 September 2018

7. Ihima MFB, Kogi – 4 February 2014

Advertisement

8. Liberty MFB, Kogi – 26 September 2018

9. Ovidi MFB, Kogi – 24 November 2020

10. New Mercantile MFB, Abuja – 4 February 2014

11. Altitude MFB, Lagos – 26 September 2018

Advertisement

12. Bonded MFB, Lagos – 26 September 2018

13. Hybrid MFB, Lagos – 26 September 2018

14. Mar-Bonch MFB, Lagos – 26 September 2018

15. Coral MFB, Lagos – 26 September 2018

Advertisement

16. Lasu MFB, Lagos – 26 September 2018

17. Shoreline MFB, Lagos – 26 September 2018

18. Sovereign MFB, Lagos – 26 September 2018

19. Wealthbasket MFB, Lagos – 26 September 2018

Advertisement

20. EDS MFB, Lagos – 4 February 2014

21. Compass MFB, Lagos – 4 February 2014

22. Enterprise MFB, Lagos – 4 February 2014

23. Freegate MFB, Lagos – 4 February 2014

Advertisement

24. Funds Matrix MFB, Lagos – 4 February 2014
25. Green Field MFB, Lagos – 4 February 2014

26. Interglobal MFB, Lagos – 4 February 2014

27. Kings MFB, Lagos – 4 February 2014

28. Keystone MFB, Lagos – 4 February 2014

Advertisement

29. Vinning MFB, Lagos – 4 February 2014

30. Marvelous MFB, Lagos – 26 September 2018

31. Santrust MFB, Lagos – 26 September 2018

32. TSM MFB, Lagos – 26 September 2018

Advertisement

33. Biztrust MFB, Lagos – 26 September 2018

34. Gideon Trust MFB, Lagos – 26 September 2018

35. Ethics MFB, Lagos – 26 September 2018

36. First Credit MFB, Lagos – 26 September 2018

Advertisement

37. Gapbridge MFB, Lagos – 26 September 2018

38. New Gate MFB, Lagos – 24 September 2010

39. Primate MFB, Lagos – 24 September 2010

40. Mustason MFB, Lagos – 24 September 2010

Advertisement

41. Mustard MFB, Lagos – 26 September 2018

42. Southwest MFB, Lagos – 24 September 2010

43. Trust One MFB, Lagos – 23 May 2023

44. Traders MFB, Lagos – 4 February 2014

Advertisement

45. Citiserve MFB, Lagos – 4 February 2014

46. SVP MFB, Rivers – 4 February 2014

47. CKC MFB, Rivers – 4 February 2014

48. Acorn MFB, Rivers – 4 February 2014

Advertisement

49. Aracom MFB, Ondo – 4 February 2014

50. Homeland MFB, Bayelsa – 24 September 2010

51. First Golden Mercury MFB, Osun – 4 February 2014
52. Cubic MFB, Edo – 24 September 2010

53. Solace MFB, Delta – 4 February 2010

Advertisement

54. Top Mega Trust MFB, Delta – 4 February 2014

55. Advance MFB, Akwa Ibom – 26 September 2018

56. Umu-Uma MFB, Anambra – 4 February 2014

57. First Amalgamated B/S, Kwara – 5 January 2015

Advertisement

58. Horizon Building Society, Abuja – 6 August 2012

59. Imani Savings & Loans, Abuja – 6 August 2012

60. New Capital Savings & Loans, Abuja – 6 August 2012

61. Owners Home S & L, Abuja – 6 August 2012

Advertisement

62. Perennial Building Society, Abuja – 6 August 2012

63. Primrose Savings & Loans, Abuja – 6 August 2012

64. Global Building Society (Confluence S&L), Abuja – 5 January 2015

65. Melrose Savings & Loans, Abuja – 6 August 2012

Advertisement

66. Acclaim Homes and Loans, Lagos – 6 August 2012

67. CB Homes Savings and Loans, Lagos – 6 August 2012

68. Coastal Homes Savings and Loans, Lagos – 6 August 2012

69. Crest Mortgage Savings and Loans, Lagos – 6 August 2012

Advertisement

70. Estaport Building Society, Lagos – 6 August 2012

71. Guardian Trust S & L, Lagos – 6 August 2012

72. Home Trust Savings and Loans, Lagos – 6 August 2012

73. Mars Home Investment Savings and Loans, Lagos – 6 August 2012

Advertisement

74. Omono Building Society, Lagos – 6 August 2012

75. Secure Savings and Loans, Lagos – 6 August 2012

76. Urban Shelter Savings and Loans, Lagos – 6 August 2012

77. Consolidated Estate Building Society, Lagos – 5 January 2015

Advertisement

78. Home Foundation Savings and Loans, Lagos – 5 January 2015

79. Password Savings and Loans, Lagos – 5 January 2015

80. Supreme Savings and Loans, Lagos – 1 October 2018

81. Midland Mortgages, Rivers – 5 January 2015 (Self-liquidation)

Advertisement

82. Garden City MFB, Rivers – 26 September 2018 (Self-liquidation)

83. Combined Benefit MFB, Bayelsa – 4 February 2014 (Self-liquidation)

84. Corporate MFB, Oyo – 4 February 2014 (Self-liquidation)

85. Lofty Heights MFB, Edo – 4 February 2014 (Self-liquidation)

Advertisement

86. Express MFB, Abia – 4 February 2014 (Self-liquidation)

87. Multi-Banc Savings and Loans, Lagos – 5 January 2015 (Self-liquidation)

News

Breaking: Customs to unveil yearly hiring, open 2026 recruitment portal soon

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

 

The Nigeria Customs Service has announced a significant shift in its recruitment policy, stating that future recruitment exercises will be conducted annually instead of at irregular intervals.

The Comptroller-General of Customs, Adewale Adeniyi, revealed this during a press briefing on the release of the final list of successful candidates for the 2024/2025 recruitment exercise at the service headquarters in Abuja on Tuesday.

He said the decision was part of efforts to create a predictable manpower planning system that would enable the service to replace retiring officers promptly while giving young Nigerians regular opportunities to join the organisation.

Advertisement

According to Adeniyi, the service has moved away from a recruitment model under which applicants had to wait several years before another opportunity became available.

He explained that the new structure would make recruitment a continuous process, with the 2026 exercise expected to commence later this year.

The 2026 Recruitment Exercise will open later this year, and it is my firm intention that it will be completed within a single calendar year, from advertisement to final list.”

The Comptroller-General said the lengthy process experienced during the 2024/2025 recruitment exercise was largely due to the need to establish a robust recruitment architecture capable of supporting future exercises.

Advertisement

He said the service had invested time and resources in building the framework, adding that subsequent recruitment exercises would benefit from the structures already put in place.

“The systems, the screening architecture and the verification processes built during this exercise now exist, and they will not have to be built again,” he said.

“The delays of this cycle were in significant part the cost of constructing that machinery. That cost has now been paid.”

Adeniyi said the annual recruitment model would benefit both the service and prospective applicants by improving workforce planning and reducing uncertainty among young Nigerians seeking employment.

Advertisement

He explained that the approach would enable the service to anticipate manpower gaps arising from retirements and other exits instead of waiting until shortages occur before recruiting.

“An annual cycle serves the Service and the applicant equally. It allows us to plan our manpower against known retirements rather than in reaction to them,” he said.

He added that the new system would also provide clarity for unsuccessful applicants by allowing them to prepare for future opportunities without prolonged uncertainty.

“And it means that a young Nigerian who is unsuccessful this year knows precisely when the next opportunity arrives, rather than waiting in uncertainty for an announcement that may be years in coming,” he stated.

Advertisement

The announcement followed the conclusion of the 2024/2025 recruitment exercise, which attracted significant interest from Nigerians seeking employment in the paramilitary agency.

Adeniyi also announced that 3,852 candidates had been offered appointments across the service’s three entry cadres.

Of the successful candidates, 1,275 were recruited into the Superintendent Cadre, 367 into the Inspectorate Cadre, and 2,210 into the Customs Assistant Cadre.

Advertisement
Continue Reading

News

Nigeria-Israel Renew Push for Stronger Security, Trade and Technology Partnership

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

By Gloria Ikibah

Nigeria and Israel have reaffirmed their commitment to deepening bilateral cooperation in security and defence, agriculture, technology, healthcare and trade as both countries seek to strengthen their long-standing diplomatic and economic relationship.

The commitment was reaffirmed during a valedictory visit by the outgoing Israeli Ambassador to Nigeria, Mr. Michael Freeman, to the Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, in Abuja.

Receiving the envoy, the Minister commended Ambassador Freeman for his efforts in advancing relations between Nigeria and Israel during his diplomatic assignment.

Advertisement

She reiterated Nigeria’s determination to broaden cooperation in key areas of mutual interest, particularly in counter-terrorism, intelligence sharing, border security, security financing and capacity building.

The Minister also underscored the need to deepen collaboration in innovation and technology by fostering stronger partnerships between Nigerian start-ups and Israeli technology companies.

She noted that Nigeria would also benefit from Israel’s expertise in water resource management and modern agricultural practices to improve food production and strengthen national food security.

Speaking during the visit, Ambassador Freeman described Nigeria as “an amazing country” with “warm and welcoming people,” stressing that sustained engagement would be crucial to unlocking the full potential of the relationship between both nations.

Advertisement

He reaffirmed Israel’s commitment to expanding cooperation with Nigeria across several strategic sectors.

“Israel remains committed to supporting Nigeria in innovation, agriculture, healthcare, education, skills development and security,” he said.

The outgoing envoy also expressed confidence that economic relations between both countries would continue to grow, noting that bilateral trade, currently estimated at about 200 million dollars annually, has significant room for expansion.

He said stronger partnerships between the public and private sectors of both countries would help unlock new investment opportunities and drive economic growth.

Advertisement

Both sides expressed optimism that the longstanding relationship between Nigeria and Israel will continue to flourish through enhanced cooperation in security, commerce, technology and sustainable development.

Continue Reading

News

Prepare Young People for Leadership Now – Speaker Abbas

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

…say youths must shape Nigeria’s future today, not tomorrow

…back greater inclusion of women, persons with disabilities in governance

By Gloria Ikibah

Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas has called for deliberate investment in preparing young Nigerians for positions of leadership, insisting that they should no longer be viewed simply as the leaders of tomorrow but as active contributors to the country’s development today.

Advertisement

Speaking at the launch of the Leadership for Equity, Advocacy and Development (LEAD) Fellowship organised by the Gender Mobile Initiative (GMI) at the National Assembly  on Tuesday, in Abuja, Speaker Abbas said Nigeria’s youthful population must be equipped with the knowledge, values and institutional understanding needed to drive meaningful change.

Represented by the Chairperson of the House Committee on Women Affairs and Social Development, Rep. Kafilat Ogbara, the Speaker said leadership is far more than occupying political office.

“It is high time we prepared young people for power. As the trustees of our tomorrow, they must understand how government works and how to use political office to change society for the better. Without this preparation, they risk squandering the opportunity to effect real, lasting good,” he said.

He described the fellowship, which targets students in tertiary institutions, as a strategic investment in Nigeria’s democratic future.

Advertisement

“The youths are no longer merely the leaders of tomorrow; their time has come. As voters, innovators, entrepreneurs and community leaders, they deserve the power to influence the decisions that shape their lives today,” Abbas added.

According to him, the programme will nurture a new generation of leaders who understand public policy, appreciate the responsible use of power and are committed to building strong institutions.

The Speaker also praised the fellowship’s emphasis on inclusion, as he said meaningful democracy cannot thrive while significant sections of society remain excluded from governance.

“The inclusion of women, persons with disabilities, and historically marginalised groups is not an act of benevolence. It is a matter of basic justice, democratic legitimacy and institutional effectiveness. A democracy that excludes large sections of society cannot be said to be representative,” he stated.

Advertisement

Abbas reiterated the commitment of the 10th House to expanding women’s participation in politics through the proposed constitutional amendment seeking reserved seats for women in the National Assembly and State Houses of Assembly.

He identified inadequate campaign financing, exclusion from party structures, cultural stereotypes and electoral violence as some of the major obstacles preventing women from seeking elective office.

“Let me be absolutely clear: we are not attempting to lower the standard of leadership. We are attempting to remove the barriers that prevent capable women from even reaching the starting line.

“Nigeria does not need a generation that is simply more ambitious than the one before it. Our nation needs a generation that is wiser, more ethical, more inclusive, more technologically advanced and more institutionally minded,” he said.

Advertisement

The Speaker urged participants in the fellowship to focus on solving societal problems rather than pursuing political office for its own sake.

To sustain the impact of the programme, Abbas proposed the creation of a LEAD Alumni Policy Network that will allow fellows to continue mentoring one another, undertake policy research and collaborate on initiatives that promote national development.

He reaffirmed the readiness of the House to partner with the Gender Mobile Initiative in promoting inclusive governance, civic participation and constitutional reforms.

“The work before us is both legislative and societal. We continue to change the law where the law is the barrier. We are also changing institutions where institutions are the barrier. Finally, we must change attitudes where attitudes are the barrier,” he added.

Advertisement

Abbas who described investment in people as the most valuable investment any nation can make, expressed confidence that the fellowship will produce future legislators, policymakers, entrepreneurs, jurists, academics, innovators and civil society leaders committed to strengthening Nigeria’s democracy.

Earlier, Executive Lead of the Gender Mobile Initiative, Omowumi Ogunrotimi, said the LEAD Fellowship was conceived to bridge the gap between student leadership and meaningful participation in governance after graduation.

The 18-month programme aims to train 1,000 student leaders drawn from 10 tertiary institutions across Nigeria.

She disclosed that the initiative is being implemented in partnership with the Office of the Speaker of the House of Representatives, National Institute for Legislative and Democratic Studies (NILDS), Office of the Senior Special Assistant to the President on Student Engagement, with support from the Open Society Foundations.

Advertisement

Ogunrotimi said the idea was inspired by a female student leader who questioned what opportunities existed for ethical student leaders after graduation.

Recalling the encounter, she said the student asked: “Even if I survive all this, if I graduate and maintain my integrity, where do I go next? That single, courageous reflection became a mirror held up to our entire national governance ecosystem. It became the catalytic seed for why we are convened here today.”

She argued that although many young Nigerians already demonstrate leadership on campuses, the country has failed to provide structured pathways into governance.

According to her, Nigeria is grappling with what she described as a “democratic formation deficit”, where emerging leaders are often exposed to patronage, transactional politics, exclusion and abuse of influence at an early stage.

Advertisement

She also identified a “transition deficit”, noting that many outstanding student leaders struggle to find opportunities to contribute to governance after leaving school.

“As a result, civic talent is often disconnected from the very institutions that need it most,” she said.

Ogunrotimi explained that the fellowship was designed to address both challenges by providing structured leadership training, mentoring, institutional exposure and policy engagement.

She described the initiative as more than a leadership programme, urging government institutions, development partners and civil society organisations to support it as an investment in national development.

Advertisement

“We are intentionally incubating 1,000 student leaders across 10 pilot institutions. Our ambition is to cultivate women and men whose exercise of leadership will be defined by ethics, constitutionalism, evidence, inclusion and an unwavering commitment to service because democratic stewardship does not emerge by accident,” she said.

Also speaking, SpokespersonoftheHouse, Rep. Akin Rotimi Jr., urged young Nigerians to place character, competence and service above the pursuit of political office.

“Strong institutions require capable leaders. Leadership must therefore be identified, nurtured and developed,” he said.
Rotimi said the fellowship aligns with his legislative philosophy of “Leaving No One Behind,” which seeks to promote inclusion, accountability and equal opportunities for women, young people, persons with disabilities and underserved communities.

He therefore commended the Gender Mobile Initiative for its contributions to legislative reforms, recalling its advocacy role in the passage of the Sexual Harassment in Tertiary Educational Institutions Bill.

Advertisement

The lawmaker highlighted his sponsorship of the Independent Candidacy Bill and the Special Seats for Special Interest Groups Bill, saying both proposals are designed to deepen democratic participation.

He noted that the 10th House of Representatives has consistently expanded citizen engagement through structured policy dialogues, including the Youth Town Hall held during the 2026 National Assembly Open Week.

“These efforts reflect a clear conviction: young people must not remain spectators in governance. Democracy works best when young people participate, organise, engage institutions, contest ideas and hold leaders accountable,” he said.

Addressing the pioneer fellows, Rotimi urged them not to confuse popularity with leadership or political office with service.

Advertisement

“Leadership demands character, competence, discipline, empathy and commitment to the common good,” he said.

Quoting former Ekiti State Governor, Dr. Kayode Fayemi, he reminded participants that, “Politics is not a sprint; it is a relay. One must learn how to carry the baton before aspiring to receive it.”

He encouraged them to embrace mentorship, develop competence, strengthen institutions and prioritise service over personal recognition.

“Nigeria needs leaders who place service above self, strengthen institutions, expand opportunity and advance the public interest,” Rotimi added.

Advertisement

Also speaking, Director-General of the National Institute for Legislative and Democratic Studies (NILDS), Prof. Abubakar O. Sulaiman, represented by Dr. Shuaibu Danwanka, described the fellowship as a timely intervention in Nigeria’s democratic journey.

Sulaiman said Nigeria requires leaders whose competence is matched by integrity and whose ambition is guided by service.

“Today’s event represents far more than the unveiling of another fellowship programme. It is the launch of a bold national investment in ethical leadership, democratic resilience and inclusive governance.

“I have consistently maintained that strong democracies are built not merely by strong institutions but by leaders who possess the intellectual capacity, ethical discipline, emotional intelligence and patriotic commitment to strengthen those institutions,” he stated.

Advertisement

He warned that unless ethical values are deliberately nurtured at the formative stage of leadership development, young leaders could replicate the same negative practices that weaken public institutions.

“Unless we intentionally nurture ethical leadership, democratic values and a culture of service at this formative stage, we risk producing future leaders who replicate these negative practices in our public institutions rather than reforming them,” he said.

Sulaiman reaffirmed NILDS’ commitment to supporting the fellowship through research, democratic education, legislative capacity development and strategic partnerships, expressing confidence that the initiative would produce a new generation of ethical leaders committed to strengthening Nigeria’s democracy.

Advertisement
Continue Reading

Trending

Copyright © 2024 Naija Blitz News