NEWS
CBN Vouches For Keystone, Polaris, Unity Banks
The Central Bank of Nigeria (CBN) has vouched for the strength of some lenders, assuring that there were no plans to revoke their operating licenses.
This follows online reports (not at Biztellers) that Unity Bank, Polaris Bank and Keystone Bank were at the risk of having their operating licenses revoked by the industry regulator.
The CBN took to its verified X handle on Tuesday to denounce such stories as “fake content”, which should be disregarded by members of the public.
It tweeted, with the image of the story as illustration, “This content is fake and not from the Central Bank of Nigeria”.
Biztellers reports that the speculations ride on the back of the revocation of the operating license of Heritage Bank.
To justify this action, the CBN had asserted that “The Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability.”
The regulator also added that Heritage Bank had not shown any prospects of recovery, making the revocation of its license necessary.
In keeping with extant laws, the Nigeria Deposit Insurance Corporation (NDIC) has swung into action to liquidate Heritage Bank, while vowing to protect the interest depositors.
NDIC’s appointment and action the liquidator of the bank, fell in line with Section 12 (3) of the Banks and Other Financial Act 2020.
Strategic efforts to reignite the national economy, by stimulating the manufacturing sector have yielded collaboration between the federal government and the Manufacturers Association of Nigeria (MAN).
This was revealed in a statement put out on the verified X handle of the Senior Special Assistant to The President on Media & Communications, (Office of The Vice President), Stanley Nkwocha.
Biztellers reports that they would be hosting a three-day national manufacturing policy summit scheduled for July 2-4, 2024, at the Banquet Hall of the Presidential Villa, Abuja, under the theme “Rethinking Manufacturing,”
Nkwocha revealed that President Bola Ahmed Tinubu would grace the event as the Special Guest of Honour and would also declare the summit open.
Nkwocha stated, “The President will also reinstate the administration’s commitment to industrial growth and economic diversification.
“The Office of the Vice President, the Federal Ministry of Industry, Trade and Investment (FMITI), National Institute for Policy and Strategic Studies (NIPSS) and other partners will play key roles in the summit to bring together stakeholders from Ministries, Departments and Agencies (MDAs), multilateral partners, regional institutions, and industry leaders to forge a new path for Nigeria’s manufacturing sector.”
Nkwocha cited the Director-General of MAN, Segun Ajayi-Kadir, thus, “the Summit will focus on discussions on overcoming the binding constraints that limit the performance of the manufacturing sector, enhancing supply chain resilience, leveraging technology, and generally fostering a conducive business environment to drive the growth of the sector.”
An explosion struck the Zungeru Hydro Electricity Dam early Monday morning, causing multiple injuries among the workforce.
The dam, which has not yet been officially commissioned by the Federal Government, is the fourth hydroelectric project in the state, following Jebba, Kainji, and Shiroro dams.
The cause of the explosion has not been disclosed. Local sources confirmed that several workers were injured, with those most seriously hurt being transported to Minna, the state capital, for intensive medical care.
Among the injured was a Chinese national, seen being taken to Minna for further treatment.
While the total number of injured workers is not yet clear, it is reported to be significant.
Tragedy struck early Monday morning along the Kano-Zaria Expressway in Kano State, as a trailer accident at Dangwaro Flyover claimed the lives of at least 25 individuals.
The trailer, carrying around 90 passengers along with livestock, motorcycles, and bags of maize, was involved in the fatal crash.
This incident follows closely after another heartbreaking event last Friday, when a trailer collided with worshippers who had just finished their Juma’at prayers in Imawa town, Kura local government area, resulting in the deaths of 14 people.
The spokesperson of the Federal Road Safety Corps (FRSC), RS1.2, Kano State Sector Command, Abdullahi Labaran, disclosed in a statement to journalists on Monday that a tragic accident occurred at Dangwaro Flyover along the Kano-Zaria Road at approximately 0330hrs.
He said “At approximately 0330hrs, a fatal accident involving a trailer (IVECO) with registration number KMC 311 ZB occurred at Dangwaro Flyover along Kano-Zaria Road.
“The crash involved ninety (90), with devastating consequences: twenty-five (25) fatalities, fifty-three (53) injured individuals, and twelve (12) people rescued unhurt.
“Preliminary investigations suggest that the probable cause of the crash was due to over-speeding and loss of control by the driver of the trailer.”
Labaran added that during the rescue operation, which involved the collaboration of FRSC personnel, the Police, and other first responders, they recovered six motorcycles, 10 mobile phones, several animals such as rams and goats, bags of maize, and a total of N4,000 in cash.
All injured victims were swiftly transported to Murtala Specialist Hospital Kano for urgent medical care.
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