img 20231025 wa00033255123697444502058 The Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Distinguished Senator Mukhail Adetokunbo Abiru, FCA, on Monday, led members of the committee on an oversight visit to the Lagos office of the Nigeria Deposit Insurance Corporation(NDIC).
This visit is in accordance with sections 62,88 and 89 of the Constitution of the Federal Republic of Nigeria 1999 (as amended) that empower the National Assembly to perform legislative oversight on all Ministries, Departments and Agencies (MDAs) and Government-owned Enterprises (GoES) , for judicious utilization of Government funds. Senator Abiru, who is the lawmaker representing the Lagos East Senatorial District, said that the committee came to assess the performance of the corporation and discuss its challenges with the hope of proffering necessary support to enhance its effectiveness. According to him, “The NDIC plays a critical role in safeguarding the stability and integrity of our financial system. It is our responsibility as lawmakers to ensure that it is fulfilling its mandate effectively and efficiently.
“The banking and financial sector is the backbone of any economy, and it is crucial that we maintain the highest standards of oversight and regulation to ensure the safety and security of the funds entrusted to these institutions by the public. The NDIC, as the primary insurer of deposits in Nigeria, is tasked with the responsibility of protecting depositors' funds and promoting sound banking practices”. Senator Abiru who is an accomplished economist, accountant and retired bank chief Executive, also challenged NDIC on innovation in the digitally-driven banking era. “The Nigerian banking and financial landscape are continuously evolving, and the NDIC's role has become even more critical. In recent years, we have witnessed an expansion of digital financial services, fintech innovation, and increased financial inclusion”, Senator Abiru was quoted to have said in a statement issued by his media aide, Mr. Enitan Olukotun, in Lagos on Tuesday.
The management team of NDIC, led by the Managing Director/ Chief Executive Officer, Mr. Bello Hassan, FCA, thanked the Senate delegation for their insights and valuable advice on how to improve the operational efficiency of the corporation.
In conclusion, the Senate Committee pledged to work with the Corporation and other stakeholders towards the protection of the deposit of Nigerians in the banks.
Other distinguished Senators who are members of the Senate Committee on Banking, Insurance and other Financial Institutions that were present include: Senator Aminu Waziri Tambuwal (Sokoto South), Senator Lawal Adamu Usman (Kaduna Central), Senator Ibrahim Khalid Mustapha (Kaduna North), Senator Habib Mustapha (Jigawa Central) and Senator Haruna Manu (Taraba Central).

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SENATOR TOKUNBO ABIRU LEADS SENATE COMMITTEE MEMBERS ON BANKING, INSURANCE AND OTHER FINANCIAL INSTITUTIONS ON OVERSIGHT VISIT TO NDIC OFFICE IN LAGOS ®™√ INN Nigeria ©

1 month ago INN

The Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Distinguished Senator Mukhail Adetokunbo Abiru, FCA, on Monday, led...

393j3j3n6291044436002858020 Undeterred by jetlag from a long intercontinental journey, President Bola Tinubu, on Tuesday, arrived in New Delhi to the immediate embrace of Mr Gopichand Hinduja, the Chairman and CEO of the Hinduja Group of Companies, a conglomerate with a total asset portfolio exceeding $100 billion U.S. Dollars.
The Indian Industrialist was received by the President within 90 minutes of the President's arrival in India for a meeting, which began around 8:8:00 pm local time.
Accompanied to the meeting by Nigeria's Ministers of Finance, Trade & Industry, and Foreign Affairs, the smiling Nigerian leader made it clear to his first visitor that he is in India with one focus: attracting investments to Nigeria with lucrative opportunities for investors, but most essentially, jobs for Nigerians and new revenue opportunities for Nigeria's federal and sub-national governments.
"We are here for business. I am here to personally assure our friends and investors that there is no bottleneck that I will not break. Nigeria will become one of the most conducive places on earth to make good profits and create lasting jobs. With my support, nothing is standing in your way of enjoying the unrivalled opportunities presented by our massive market and the ingenious & hardworking nature of the Nigerian people. We are open for business," the President firmly assured.
The Hinduja Group Chairman told the President that he was a living witness to his landmark effort as Governor of Lagos in turning a coastal erosion and water encroachment crisis into a massive free trade zone where industry now thrives. This, he said, was partially responsible for his excitement to partner with Nigeria's new President to create win-win prosperity for Nigeria's talented population.
"We believe in you as a leader who has done this before. You know what the challenges are. You know how to fix them. We are going to make investments into the billions of dollars under your leadership because we see you are already addressing the systemic problems. I am ready now to sign an MoU and to begin execution. You tell me who to liaise with, and we will get to work immediately, particularly concerning automobile manufacturing in Nigeria, amongst other areas," the industrialist enthusiastically stated.
The President did not wait to respond.
"Ministers of Trade and Finance, the two of you will follow this up immediately, and you will draw up the terms to the satisfaction of both parties. If there are any issues at all that require my intervention, they must be brought to my attention immediately."
After the President assigned the task of agreeing to the two Ministers in collaboration with Hinduja Group Executives, who were present in the room, the industrialist could not hide his excitement.
"I have had paperwork stalled in Nigerian bureaucracy for over one year, especially in FCT, but I knew that you would be purpose-driven in this endeavour and God will help you to turn Nigeria's rich promise into a rich reality for all of its citizens," the Indian Billionaire concluded.
The President concluded that his task of making Nigeria great can only be achieved through teamwork and not in isolation, noting that when his investors are happy, Nigerians will rejoice by partaking in an inclusive economy where hard work is rewarded and where excellence becomes the reputation of the nation.

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fb img 16908905051571317644832904998053 The Acting Inspector-General of Police, IGP Kayode Adeolu Egbetokun is deeply concerned about recent developments regarding planned nationwide protests by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC). While being mindful of the right to peaceful protest, as enshrined in our Constitution, the IGP urges all parties involved to ensure that the planned demonstrations are conducted peacefully to prevent being hijacked by miscreants, owing to the previous ugly experiences of such protests in most major cosmopolitan cities in the country. The IGP, however, acknowledges the grievances raised by the labour unions and the importance of constructive dialogue, which is sine qua none, in addressing these issues.
In light of this, the IGP orders the Commissioners of Police in charge of various commands, and supervisory Assistant Inspectors-General of Police, to engage in fruitful discussions with the NLC/TUC leadership to foster understanding and reach common grounds on the planned protests. A peaceful and coordinated approach is crucial to achieving meaningful solutions and preventing any form of violence or disruptions to public order, should the protests persist.
The Nigeria Police Force reiterates its commitment to ensuring the safety and security of all citizens during the period of the planned protests as all necessary measures to facilitate the peaceful conduct of these demonstrations have been emplaced. However, it is hereby reaffirmed that any attempt by miscreants to exploit the situation for violent purposes viz-a-viz vandalism, gangsterism, and extortion will be met with a firm, professional and commensurate lawful approach. The Police will not tolerate any act that threatens the peace and well-being of our country.
In light of the potential challenges posed by the planned protests, the Nigeria Police Force is fully prepared to deploy all available resources to maintain law and order and to protect the lives and property of our citizens. The IGP, therefore, calls on all officers to be vigilant, and professional, and uphold the highest standards of conduct during this period.
The Police boss urges all stakeholders, including the NLC, TUC, and other civil society groups, to embrace peaceful dialogue as the most effective means of resolving grievances, while also reemphasizing that the Police is committed to ensuring a secure and conducive environment for open dialogue, constructive engagement and mutual understanding for a seamless exercise of civil rights.

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In furtherance of his desire to ease the burden of the fuel subsidy removal on students of higher institutions of learning, President Asiwaju Bola Ahmed Tinubu has approved the provision of buses to the students' bodies of all universities, polytechnics and colleges of education across the country.
The President desires to see that students can access their campuses without much difficulty as a result of higher transportation costs.
The provision of buses will also remove the burden of additional costs of daily commuting on parents and guardians.
In line with his promise to ensure no Nigerian student abandons his or her educational pursuits as a result of lack of money and the economic circumstances of their parents, President Tinubu has also approved the removal of all restrictions on the students' loans to make it available to any student or household that may desire it.
Similarly, President Tinubu has directed the authorities in all Federal Institutions of higher learning to avoid arbitrary increase in sundry fees payable and where possible defer further increase so that parents and students don't face too many difficulties.
While it is important to reiterate that President Tinubu has directed the release of over 200,000 Metric Tonnes of grains to families in 36 states and Federal Capital Territory, Abuja, the government is working to ensure that vulnerable students can also benefit from conditional cash transfers and food distribution.
The Federal Government salutes the courage, wisdom and partnership of Nigerian Students as our country navigates this challenging time.
President Tinubu will continue to prioritise education and the needs of the students, improve the welfare of teaching and non-academic staff and invest in infrastructure to make our institutions of higher learning more globally competitive.

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In furtherance of his desire to ease the burden of the fuel subsidy removal on students of higher institutions of...

SENATOR TOKUNBO ABIRU LEADS SENATE COMMITTEE MEMBERS ON BANKING, INSURANCE AND OTHER FINANCIAL INSTITUTIONS ON OVERSIGHT VISIT TO NDIC OFFICE IN LAGOS ®™√ INN Nigeria ©

PRESIDENT TINUBU ARRIVES INDIA, HEADS STRAIGHT INTO TOP-LEVEL INVESTMENT MEETING WITH HINDUJA CHAIRMAN ®™√ INN Nigeria ©

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