DEPOSITORS’ REIMBURSEMENT TO RECEIVE MAJOR BOOST AS NDIC, NIBSS SET TO SIGN MOU

DEPOSITORS’ REIMBURSEMENT TO RECEIVE MAJOR BOOST AS NDIC, NIBSS SET TO SIGN MOU

RT-LT, MD, NDIC Mr. Thompson Oludare Sunday, and NIBSS MD/CE, Mr. Premier Oiwoh,

Bisi Akingbade 

Nigeria Deposit Insurance Corporation, NDIC, and the Nigeria Inter-Bank Settlement System, NIBSS, Plc. are set to sign a Memorandum of Understanding (MoU) aimed at ensuring a more efficient process of reimbursement of depositors in the event of bank failure.

This development was disclosed by the Managing Director/Chief Executive of the NDIC, Mr. Thompson Oludare Sunday, during a courtesy visit to the Corporation’s Head Office in Abuja by the NIBSS Executive Management team led by its Managing Director/Chief Executive, Mr. Premier Oiwoh.

Mr. Sunday commended NIBSS for its longstanding partnership and invaluable contributions to strengthening the Corporation’s mandate of protecting depositors and enhancing public confidence in the banking system. 

He highlighted the pivotal role played by the NIBSS in driving digital verification processes, particularly through the deployment of the Bank Verification Number (BVN) platform, which enabled seamless payment to the alternate bank accounts of depositors of failed Heritage Bank Limited.

His word: “You have been a reliable partner and NDIC remains committed to that partnership. Without NIBSS’s support, it would have been difficult to achieve the milestone we attained with the closure of failed Heritage Bank despite the impromptu nature of the arrangement. That is why it is important for us to concretise our partnership through this MoU”, the NDIC MD/CE stressed. 

The Head, Communication & Public Affairs Department, Hawwau Gambo, in the press release issued by NDIC highlighted key areas to be covered by the MoU such as real-time synchronization of NDIC’s deposit registers and electronic records to allow for swift verification of eligible accounts during bank resolution; expansion of disbursement channels for depositor claims to include Mobile Money Operators, MMOs, and possible NDIC-branded mobile interface; and investment in Single Customer View, SCV, and interoperability infrastructure for instant validation in the event of bank failure.

The NDIC Boss commended NIBSS for reforming the payments system in Nigeria and putting it ahead of its peers in most part of the world, adding that efforts of the NIBBS platform in mitigating frauds in the financial system are laudable.

In his response, the NIBSS MD/CE, Mr. Premier Oiwoh, expressed appreciation to the NDIC leadership for the sustained partnership that is geared towards a safer and smooth payment system in Nigeria over the years. He reaffirmed NIBSS’s full commitment to supporting the Corporation in the delivery of its mandate of depositor protection, emphasizing that NIBSS exists to serve Nigerians and stands ready to provide the technological backbone required to enhance financial system stability.

Mr. Oiwoh emphasized the critical importance of prompt and efficient reimbursement during bank failures, noting that the NDIC’s efforts in this regard directly contribute to public trust and financial inclusion. He assured that his organisation is working closely with law-enforcement agencies to proactively reinforce the safety of the nation’s payment system, as well as strengthen its infrastructure to lower the cost of transactions on its platforms.

The MoU between both institutions is expected to usher in a new era of digitized, responsive, and technology-driven depositor reimbursement process, ultimately reinforcing confidence in Nigeria’s financial safety-net framework.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

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DEPOSITORS’ REIMBURSEMENT TO RECEIVE MAJOR BOOST AS NDIC, NIBSS SET TO SIGN MOU

DEPOSITORS’ REIMBURSEMENT TO RECEIVE MAJOR BOOST AS NDIC, NIBSS SET TO SIGN MOU

RT -LT, MD NDIC, Thompson Oludare Sunday, and NIBSS MD/CE, Mr. Premier Oiwoh

Bisi Akingbade 

Nigeria Deposit Insurance Corporation, NDIC, and the Nigeria Inter-Bank Settlement System, NIBSS, Plc. are set to sign a Memorandum of Understanding (MoU) aimed at ensuring a more efficient process of reimbursement of depositors in the event of bank failure.

This development was disclosed by the Managing Director/Chief Executive of the NDIC, Mr. Thompson Oludare Sunday, during a courtesy visit to the Corporation’s Head Office in Abuja by the NIBSS Executive Management team led by its Managing Director/Chief Executive, Mr. Premier Oiwoh.

Mr. Sunday commended NIBSS for its longstanding partnership and invaluable contributions to strengthening the Corporation’s mandate of protecting depositors and enhancing public confidence in the banking system. 

He highlighted the pivotal role played by the NIBSS in driving digital verification processes, particularly through the deployment of the Bank Verification Number (BVN) platform, which enabled seamless payment to the alternate bank accounts of depositors of failed Heritage Bank Limited.

His word: “You have been a reliable partner and NDIC remains committed to that partnership. Without NIBSS’s support, it would have been difficult to achieve the milestone we attained with the closure of failed Heritage Bank despite the impromptu nature of the arrangement. That is why it is important for us to concretise our partnership through this MoU”, the NDIC MD/CE stressed. 

The Head, Communication & Public Affairs Department, Hawwau Gambo, in the press release issued by NDIC highlighted key areas to be covered by the MoU such as real-time synchronization of NDIC’s deposit registers and electronic records to allow for swift verification of eligible accounts during bank resolution; expansion of disbursement channels for depositor claims to include Mobile Money Operators, MMOs, and possible NDIC-branded mobile interface; and investment in Single Customer View, SCV, and interoperability infrastructure for instant validation in the event of bank failure.

The NDIC Boss commended NIBSS for reforming the payments system in Nigeria and putting it ahead of its peers in most part of the world, adding that efforts of the NIBBS platform in mitigating frauds in the financial system are laudable.

In his response, the NIBSS MD/CE, Mr. Premier Oiwoh, expressed appreciation to the NDIC leadership for the sustained partnership that is geared towards a safer and smooth payment system in Nigeria over the years. He reaffirmed NIBSS’s full commitment to supporting the Corporation in the delivery of its mandate of depositor protection, emphasizing that NIBSS exists to serve Nigerians and stands ready to provide the technological backbone required to enhance financial system stability.

Mr. Oiwoh emphasized the critical importance of prompt and efficient reimbursement during bank failures, noting that the NDIC’s efforts in this regard directly contribute to public trust and financial inclusion. He assured that his organisation is working closely with law-enforcement agencies to proactively reinforce the safety of the nation’s payment system, as well as strengthen its infrastructure to lower the cost of transactions on its platforms.

The MoU between both institutions is expected to usher in a new era of digitized, responsive, and technology-driven depositor reimbursement process, ultimately reinforcing confidence in Nigeria’s financial safety-net framework.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

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NOTICE TO DEPOSITORS OF ASO SAVINGS AND LOANS PLC, UNION HOMES SAVINGS AND LOANS PLC (IN-LIQUIDATION)

NOTICE TO DEPOSITORS OF ASO SAVINGS AND LOANS PLC,  UNION HOMES SAVINGS AND LOANS PLC (IN-LIQUIDATION)

Bisi Akingbade 

Following the revocation of the licenses of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc by the Central Bank of Nigeria (CBN) on December 15, 2025, the Nigeria Deposit Insurance Corporation (NDIC) was appointed as the liquidator of the defunct banks in line with the provisions of Section 12(2) of the Banks and Other Financial Institutions Act (BOFIA) 2020. It is in this regard that the management of NDIC announces the following to the banks’ depositors and the general public:

Commencement of Liquidation:

In line with Section 55, subsections 1 & 2 of the NDIC Act 2023, the Corporation has commenced the liquidation process for Aso Savings and Loans Plc and Union Homes Savings and Loans Plc. Accordingly, the verification and payment of insured deposits to depositors of the closed banks have begun as outlined below:

Verification and Payment of Depositors

Depositors will be paid their insured deposits up to the maximum amount of ₦2,000,000 (Two Million Naira) per depositor, using the Bank Verification Number (BVN) as a unique identifier to locate their alternate bank accounts, into which the insured sums will be automatically credited.

Depositors with balances in excess of ₦2,000,000 will be paid the initial insured amount, while their outstanding balances will be settled as liquidation dividends upon the realisation of the assets and recovery of debts owed to (of) the failed banks.

To this end, the Corporation will commence the sale of the banks’ assets and continue recovery of outstanding loans in order to expedite payment of uninsured sums.

Submission of Claims

Verification and processing of depositors’ claims may be carried out online or physically, as follows:

Online Submission of Claims:

Depositors are advised to submit their claims online by visiting the NDIC claims portal at https://ndic.gov.ng/claims-verification-forms/  completing the digital claims form with all required information, and clicking the “Submit” button.

Physical Submission of Claims:

Depositors who prefer physical verification are advised to visit the nearest branch of the closed banks between Tuesday, December 16, 2025 and Thursday, December 30, 2025, where NDIC officials will be available to attend to them.

For verification of deposits and subsequent payment of insured sums, depositors are required to present:

Proof of account ownership;

A verifiable means of identification (Driver’s License, Permanent Voter’s Card, or National Identity Card); and

Details of their alternate bank account and Bank Verification Number (BVN). 

Activate Transaction Alerts

Depositors are advised to ensure that transaction alerts are activated for their alternate bank accounts in order to receive notifications of payments. Where alerts are not active, depositors may check their account balances using their banks USSD codes or by visiting their bank branches.

Verification and Payment to Creditors

Creditors of the closed banks are advised to submit their claims online or by visiting the nearest branch of the banks between Tuesday, December 16, 2025 and Thursday, December 30, 2025.

In accordance with the provisions of the law, payment of liquidation dividends to creditors will commence after all depositors have been fully paid. 

Payment to Bank Staff

After the full payment to all depositors, payment of deposit of staff of the defunct banks will be made from the proceeds of the sale of the banks’ assets, as liquidation dividends.

Payments to Shareholders

Following the full payment to Depositors and Creditors, Shareholders shall subsequently be paid from further realisation of the banks’ assets and the recovery of outstanding debts, as liquidation dividends.

Debtors’ Repayment of Outstanding Loans

Debtors of the defunct banks are advised to visit the Corporation’s Asset Management Department to ensure the settlement of their indebtedness in full.

Enquiries and Further Information

For further information or clarification on claims verification and payments, depositors and other stakeholders may contact the Corporation through the following channels:

E-mail: claimscomplaints@ndic.gov.ng

Claims Resolution Department:

(Weekdays: 9:00 a.m. to 5:00 p.m.)

Telephone Numbers:

09037273810, 09038197064, 08109313326, 08104220807, 09064657140

Or contact:

The Director

Claims Resolution Department

Nigeria Deposit Insurance Corporation

Lagos Office, 8th Floor, 

Mamman Kontagora House

23A, Marina

P.M.B. 12881, 

Lagos

Website: www.ndic.gov.ng

NDIC Social Media Handles:

Facebook, Instagram, Twitter (X), LinkedIn, YouTube – @NDICNigeria

The NDIC wishes to assure the entire banking public of its commitment to the continued safety of depositors’ funds in all licensed banks. As such, depositors are encouraged to continue their banking businesses without fear as banks whose licenses have not been revoked remain safe and sound.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

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Customs College Graduates 100 Middle Cadre Officers to Boost Leadership, Service Delivery

Customs College Graduates 100 Middle Cadre Officers to Boost Leadership, Service Delivery

The Nigeria Customs Service, NCS,  on Friday, 12 December 2025, graduated officers of Senior Course 13 and Junior Course 23 of the Nigeria Customs Command and Staff College (NCCSC), Gwagwalada, as part of ongoing efforts to strengthen leadership capacity, operational efficiency and strategic management across the Service.

The ceremony attracted senior officers, instructors and invited guests, highlighting the Service’s commitment to continuous professional development and institutional excellence.

Representing the Comptroller-General of Customs (CGC), Adewale Adeniyi, the Deputy Comptroller-General (DCG) in charge of Finance, Administration and Technical Services, Kikelomo Adeola, congratulated the graduates and urged them to deploy the skills and values acquired during the programme to enhance service delivery in their respective Commands and units.

“Capacity building remains a central pillar of the Nigeria Customs Service modernisation agenda, and officers who pass through this College are expected to translate their training into improved service delivery across all Commands,” DCG Adeola said.

She further charged the graduates to uphold professionalism and integrity, noting that they would serve as examples to younger officers and newly recruited personnel. “As you return to your various units, you must uphold professionalism, discipline and integrity, knowing that younger officers will look up to you as role models worthy of emulation,” she added.

Earlier, the Commandant of the College, Assistant Comptroller-General (ACG) Dow Gaura, described the successful completion of the courses as a reflection of the discipline, resilience and intellectual rigour demonstrated by the officers throughout the training period.

“The successful completion of Senior Course 13 and Junior Course 23 reflects the discipline, resilience and intellectual rigour displayed by the officers throughout a demanding programme designed to prepare them for higher responsibilities in the Service,” ACG Gaura said.

He noted that the College plays a critical role in professionalising the NCS workforce through a structured curriculum that aligns with international best practices. “The College remains committed to professionalising the Nigeria Customs Service through a curriculum that integrates customs law, leadership, operations management and strategic studies in line with global best practices,” he stated.

Speaking on behalf of the graduates, the Course Senior for course 13, Assistant Comptroller of Customs Umar Garba described the programme as transformative, noting its positive impact on their professional outlook. “The programme has been transformative, strengthening our leadership skills, deepening our understanding of customs procedures and broadening our perspective on inter-agency collaboration and national security,” Garba said.

The ceremony featured a Guard of honour for the Special Guest of Honour, presentation of certificates and awards to outstanding officers. 

Earlier, a Regimental Dinner Night was held on Wednesday, 10 December 2025 at College premises to sustain the long-standing service tradition of celebrating students having undergone rigorous training for three (3) and six (6) months for Junior and Senior Courses respectively.

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NEAPS 2025: CGC Adeniyi Bags National Award for Outstanding Revenue Collection

NEAPS 2025: CGC Adeniyi Bags National Award for Outstanding Revenue Collection

CGC BASHIR ADEWALE ADENIYI 

The Comptroller-General of Customs, Adewale Adeniyi, has received the Outstanding Revenue Collection Award at the 2025 Nigeria Excellence Awards in Public Service (NEAPS), held on Sunday, 7 December 2025, at the Banquet Hall of the Presidential Villa, Abuja.

President Bola Ahmed Tinubu, represented by the Secretary to the Government of the Federation (SGF), George Akume, said the CGC was selected from 44 distinguished recipients drawn from institutions across the country following a rigorous assessment of public service performance.

The SGF commended Adeniyi for his discipline, transparency and professionalism in revenue administration, describing his leadership as “a clear reflection of the kind of public service Nigeria needs at this critical moment.”

Akume added that the Nigeria Customs Service, NCS, under Adeniyi has shown “commendable consistency in surpassing revenue targets, tightening border management processes and restoring public confidence in institutional service delivery,” noting that his nomination was both deserving and inspiring.

He stressed that NEAPS aims to strengthen a culture of recognition in public institutions, reminding recipients that “public offices are held in trust for the Nigerian people.”

Speaking to newsmen after receiving the award, CGC Adeniyi expressed deep appreciation to President Tinubu, the SGF and the organisers for the honour.

CGC Adeniyi said “a personal inspiration but, more importantly, a tribute to the dedication of the officers and men of the Nigeria Customs Service.”

Adeniyi dedicated the award to the entire workforce, noting that it would further boost morale as the Service intensifies efforts to improve revenue collection, strengthen border security and advance trade facilitation.

“This recognition challenges us to work even harder. It reinforces our commitment to making this country proud through credible revenue administration and service that reflects integrity and excellence,” CGC Adeniyi said.

CGC Adeniyi was among the standout honourees at the ceremony, which attracted a high-profile audience including the Governors of Adamawa, Bauchi, Kano and Zamfara States, as well as the Director-General of the Nigerian Ports Authority, NPA, and other senior public officials.

The ceremony formed part of the second edition of NEAPS, organised by The Best Strategic, TBS,  Media in collaboration with the Office of the Secretary to the Government of the Federation, OSGF), to celebrate individuals and institutions delivering exceptional service to the nation.

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Kebbi Area Command: "A clean and conducive environment equips us with the right state of mind to efficiently deliver on our core responsibilities of revenue generation, anti-smuggling, and trade facilitation"- Compt. Ibrahim

Kebbi Area Command: "A clean and conducive environment equips us with the right state of mind to efficiently deliver on our core responsibilities of revenue generation, anti-smuggling, and trade facilitation"- Compt. Ibrahim

The Customs Area Controller of Kebbi Command,  Comptroller Mahmoud Matawalle Ibrahim, fdc has organised General Sanitation Exercise across the Customs Headquarters and Sam Ango Barracks, Birnin Kebbi.

During the exercise, the CAC while addressing the officers, emphasized that the essence of the activity was to instill a sense of cooperation between the rank and file, and to demonstrate the importance of working together to achieve collective goals.

 He further stated that a clean and conducive environment provides the right state of mind needed to effectively and seamlessly carry out the mandate of the Service.

In conclusion, he directed OCs and Patrol Team Leaders to extend the sanitation exercise across all border stations and outstations. He also assured that such activities would be conducted regularly.

 The Assistant Superintendent of Customs IAg. Public Relations Officer, Kebbi Area Command , Mubarak Mustpha stated in the press release that 

the exercise included sweeping, weeding, raking, burning refuse, and general cleaning of both residential areas and the surrounding environment.

The event concluded with a brief discussion on self-development between the CAC and officers, followed by refreshments.

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I Didn’t Resign Over Alleged US Planned Strike on Nigeria – Ex-Defence Minister Badaru

Immediate past Minister of Defence, Muhammad Badaru Abubakar, has dismissed reports claiming he resigned from President Bola Tinubu’s administration due to an alleged planned military strike on Nigeria in collaboration with the United States.

Badaru, in an electronically signed statement titled “Rejoinder: Categorical Denial of Malicious Publication Regarding My Resignation as Minister of Defence,” said the viral online publication suggesting he quit because he could not “watch the US and Tinubu government bombing our brothers in the forest” was entirely fabricated.

He described the report as “malicious, false, and baseless,” insisting it did not originate from him or any authorised representative.

“The intention behind this claim is to tarnish my hard-earned reputation, sow discord between me and the Commander-in-Chief, President Bola Ahmed Tinubu, and create needless distractions from the important work of governance,” he said.

Badaru explained that the true reasons for his resignation were properly communicated to President Tinubu and later made public through official channels. He stressed that any alternative or inflammatory narrative was engineered by mischief makers seeking to distort facts.

He also reaffirmed his loyalty to the President and the ruling All Progressives Congress (APC), pledging continued support for national peace and stability.

“My loyalty to the President and unwavering support for the Renewed Hope Agenda remain intact,” he said. “I remain committed to the continued success of our great party, the APC, especially as we approach the 2027 general elections.”

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