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Heritage Bank Depositors To Be Compensated In 7 Days – NDIC

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The Nigerian Deposit Insurance Corporation (NDIC) has assured depositors of Heritage Bank that it has begun the process of reimbursing all depositors of the now-liquidated bank.

Managing Director, NDIC, Bello Hassan announced this on Wednesday in Abuja during a press briefing.

He outlined the repayment procedures and emphasized that the corporation aims to settle customers within one week, rather than the 30 days required by law.

“Preliminary findings show that depositors’ funds amounted to approximately N650 billion, while the bank’s loans were around N700 billion,” Hassan stated.

Recall that the Central Bank of Nigeria (CBN) revoked Heritage Bank’s operational license on Monday due to the bank’s inability to improve its financial performance.”

CBN had said “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.”

 

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NEWS

Adeleke Opens Up On Osun’s Agro-centric Initiatives

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Osun State Governor, Senator Ademola Adeleke has opened up on the plans of his administration for the agricultural sector, assuring stakeholders that farm inputs, including tractorization and food security are being addressed by his government.

He made the assertion on Friday evening after a meeting with a Nordic, a firm interested in setting up a tractor assembly plant in Osun State.

Gov Adeleke maintained that his plans for the agricultural sector remained robust and all inclusive.

In his words, “the state is now set for implementation of various programmes in the sector.

“We take Agriculture very seriously. Our government decided to first focus on bridging the infra deficit to strengthen connectivity between rural and urban areas. We first focused on building the roads and bridges as a condition to empower the agricultural sector in the area of transportation and market linkages.

“Now that we have made enormous progress in the infra sector, we are now set to roll out specific programmes for the agricultural sector. I have set up an implementation committee on the recommendations of our food security committee.

“The Committee which is to be chaired by my Special Adviser on Agriculture, Hon Olaniran Akanfe has the mandate to put into effect the suggestions and proposals in the food committee report. Other members of the committee include Olusola Omole, Dr Alaba Towoju, Dr Olu Olajide, Hon Moshood Yakub, Hon Alexander Kehinde Oloke, Adelowo Adekunle Saburi, Kolade Tunde (TISKO) and Engr Badmus Bukola Mikail. The Permanent Secretary for the Ministry of Agriculture is to serve as the Secretary of the Committee while the Commissioner for Agriculture, Hon Tola Faseru serves as overall Coordinator.

“As we kick-start the implementation of the food security committee, our government is to launch the Osun Young Agropreneurs Incubation Programme which is to target thousands of young farmers and agropreneurs across the agricultural value chain.

“The programme will include at least 1000 hectares of land per local government; provision of land clearing and tractorization; availability of inputs; guaranteed off-taking; all season irrigation farming; integration of hydroponic farming; integration of precision farming and emphasis on gender balancing and inclusivity.

“My Commissioner for Agriculture, Hon Faseru is to chair the action committee which will have representatives from ALGON, traditional institutions among others. Other members of the action committee will include Permanent Secretary, Ministry of Land; Surveyor General of the state; Director Agriculture services at the Ministry of Agriculture; Permanent Secretary, Ministry of Youth; President, Osun Chamber of Commerce and Industry; Mr Adegoke Taiwo Kamal; a representative of farm equipment leasers and Hon Hezekiah Olabamiji Oladele (HOB).

“I have also directed the Commissioner to host a meeting with real farmers on our various farmlands in the state. The Commissioner is to meet genuine farmers to strengthen our partnership as we launch various programmes within the sector.

“I am happy to announce that the federal-state partnership on Fertilizers has yielded positive results. We will as quickly as possible commence the distribution of Fertilizers to our farmers.

“On tractorization, this is another piece of good news. The state has acquired some tractors while the Commissioner has been directed to negotiate a leasing deal with the tractor hiring association. We are also repairing existing tractors.

“Our government is therefore elated to recieve your company with such interest as setting up a tractor assembly plant. We warmly welcome your initiative. The Commissioner for Agriculture is to meet and discuss further with your representative.

“For those into plantation farming, we are raising seedlings across the crop sectors. We are starting with cashew and cocoa.

“More importantly, our government is working on reviving the cocoa industry as well as supporting agro processing through public private partnership. We welcome investors and partners in this critical sector.”

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International News

I Don’t Debate As Well As I Used To,’ Biden Reflects On Debate Performance

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President Joe Biden emphasized his capacity to deliver results while acknowledging challenges with his mobility and speech during a campaign rally in North Carolina.

His remarks followed a heated debate against former President Donald Trump in Georgia, marking a significant moment in the 2024 election cycle.

At the campaign rally in North Carolina on Friday, President Biden addressed supporters stating “Folks, I don’t walk as easy as I used to, I don’t speak as smoothly as I used to. I don’t debate as well as I used to. But I know what I do know. I know how to tell the truth, I know right from wrong.”

To downplay suggestions of being replaced in the presidential race, Democrat Joe Biden emphasized resilience, stating, “I know, as millions of Americans know, when you get knocked down you get back up.”

He also asserted his commitment to safeguarding democracy, declaring, “I won’t allow Trump to attack our democracy again, I don’t think so folks.”

Reflecting on progress made since his predecessor’s tenure, Biden remarked, “The US has come a long way from the mess that Donald Trump left,” highlighting the past “constitutional crisis and international embarrassment” caused by the former president.

Biden reaffirmed his belief that America embodies “honesty and decency” and serves as a “beacon of the world,” contrasting this with Donald Trump’s motives of “revenge and retribution,” which he criticized as never having “built a damn thing.”

Reflecting on the recent debate, President Biden remarked, “I don’t know what you did last night, but I spent 90 minutes on a stage debating with a guy who has the morals of an alley cat.”

He also commented on Trump’s performance, alleging, “Did you see Trump last night? My guess is he set, and I mean this sincerely, a new record for the most lies told in a single debate.”

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NEWS

JUST IN: President Tinubu Appoints Eight New Federal Perm Secs

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President Bola Tinubu has approved the appointment of eight new Federal Permanent Secretaries to fill current and upcoming vacancies in various states and geo-political zones within the top administrative cadre of the Civil Service of the Federation.

In a statement released by presidential spokesman Ajuri Ngelale on Friday, it was announced that the appointments were made following a rigorous selection process conducted by the Office of the Head of the Civil Service of the Federation.

The newly appointed Federal Permanent Secretaries are: Dr. Emanso Umobong Okop from Akwa-Ibom; Obi Emeka Vitalis from Anambra; Mahmood Fatima Sugra Tabi’a from Bauchi; Danjuma Mohammed Sanusi from Jigawa; Olusanya Olubunmi from Ondo; Dr. Keshinro Maryam Ismaila from Zamfara; Akujobi Chinyere Ijeoma representing the South-East region; and Isokpunwu Christopher Osaruwanmwen representing the South-South region.

The President expressed confidence that the new Federal Permanent Secretaries will demonstrate unwavering dedication, diligence, and loyalty to the nation in the execution of their duties, ensuring optimal service delivery to the Nigerian people.

 

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