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‘NDIC Academy will Lead Africa in Deposit Insurance’

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The Nigeria Deposit Insurance Corporation (NDIC) MD/CE, Alhaji Umaru Ibrahim (6th from left) receiving the certificate of accreditation for the NDIC Academy from the President/Chairman, CIBN Council, Prof Segun Ajibola (5th from left); NDIC Academy was accredited as a Training Service Provider for the Banking and Finance industry by the Council of the Chartered Institute of Bankers of Nigeria (CIBN); on the MD’s right are: NDIC Executive Director (Corporate Services), Hon. Mrs. Omolola Abiola-Edewor; Director, NDIC Academy, Dr Azubike Okoro and NDIC Executive Director (Operations), Prince Aghatise Erediauwa, in Lagos, recently.

 

By Joseph INOKOTONG

The Nigeria Deposit Insurance Corporation (NDIC) is set to lead the African Sub-Region in enhancing capacity building and bridging skills gaps in the banking industry in general and the Deposit Insurance Scheme (DIS) in particular.

This was made known by the NDIC’s Managing Director/Chief Executive, Alhaji Umaru Ibrahim during his remark at the accreditation ceremony of the NDIC Academy as a training service provider for its staff and the banking industry by the Council of the Chartered Institute of Bankers of Nigeria (CIBN) at the Bankers House, Victoria Island, Lagos.

Alh. Ibrahim said with the NDIC Academy’s new status, it is positioned to fulfill the Corporation’s goal of serving as a center of academic excellence for capacity building on the Deposit Insurance Scheme (DIS) for countries in the Sub-Saharan Africa.

He added that the Corporation prides itself on establishing high standards of professionalism and competency among its staff through the Corporation’s NDIC Academy and other human capital development initiatives, including the Chartered Banker/MBA program of University of Bangor, Scotland in partnership with the CIBN.

A statement issued by the Head, Communication & Public Affairs, Hadi S. Birchi said the NDIC CEO emphasized the importance of continuous high level training in order to achieve the Corporation’s core mandates of deposit guarantee, bank supervision, bank distress resolution and bank liquidation.

The ultimate goal, he said, would be to enhance depositor protection and public confidence in the banking system.

In his earlier address, the President and Chairman, Council of CIBN, Prof. Segun Ajibola commended the Corporation for its consistent efforts toward meeting high standards for the benefit of the banking industry and larger economy.

Prof. Ajibola described the NDIC’s readiness to subject itself to the rigors of the accreditation process as a testimony of its Management’s commitment towards capacity development in order to equip its workforce with critical skills to enhance their performance and productivity.

He said that there would be periodic monitoring to ensure that standards were maintained, adding that the accreditation would last for three years after which the Corporation would require recertification.

 

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Dogara Celebrates Former President Ibrahim Babangida at 85, Hails His Enduring Legacy

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Rt. Hon. Yakubu Dogara, former Speaker of Nigeria’s House of Representatives, has joined millions of Nigerians in celebrating the 85th birthday of former military President, General Ibrahim Badamasi Babangida (rtd), fondly known as IBB.

In a heartfelt tribute, Dogara described General Babangida as “a statesman of uncommon vision whose leadership helped shape the destiny of Nigeria.” He emphasized that Babangida’s years in power were marked by bold reforms, infrastructural expansion, and the creation of new states that gave voice and identity to millions of Nigerians.

Born on August 17, 1941, General Babangida rose through the ranks of the Nigerian Army to become Head of State in 1985. His eight-year tenure remains one of the most defining eras in Nigeria’s political and economic journey. During his administration, Babangida introduced far-reaching economic reforms, strengthened Nigeria’s federal structure through state creation, and invested in infrastructure projects that continue to serve the nation decades later.

Dogara noted that Babangida’s foresight in establishing institutions and agencies has left an enduring legacy. He highlighted the former president’s role in expanding Nigeria’s federation, ensuring equity and representation across diverse regions, and laying foundations that successive governments have built upon.

Beyond his years in office, Dogara commended Babangida’s enduring role as an elder statesman. Even in retirement at his Minna Hilltop residence, Babangida continues to provide wise counsel to successive governments and inspire younger generations with his humility, patriotism, and resilience.

He prayed for Babangida’s continued health, strength, and grace, adding that his life is a testimony of service to God and country.

As Nigerians reflect on his 85 years, Babangida’s story is not only one of military distinction and political leadership but also of enduring influence in shaping Nigeria’s path toward unity and progress. His legacy continues to resonate, reminding the nation of the importance of vision, courage, and commitment to the common good.

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Group Threatens Legal Action Against Akutah Over Alleged Breach of Presidential Directive

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An advocacy group, the Centre for Democracy (CDD), has given the Executive Secretary of the Nigerian Shippers Council, Pius Akutah, five days to explain why he allegedly failed to resign from his position after obtaining the All Progressives Congress (APC) governorship nomination form.

In a statement signed by its Director of Operations, Barrister Jude Oseni, and made available to journalists, the group alleged that Akutah ought to have resigned immediately after obtaining the nomination form.

The group said his alleged failure to resign breached a presidential directive requiring federal appointees seeking elective positions in the 2027 general elections to relinquish their appointments by March 31, 2026.

According to the CDD, failure to comply with the directive amounts to insubordination to President Bola Tinubu and raises questions about Akutah’s relationship with the office of the Secretary to the Government of the Federation and the Minister of Transportation.

The group threatened to institute legal action against Akutah if he failed to publicly clarify that the APC governorship nomination forms were purchased by another person without his knowledge.

The CDD further alleged that Section 88(3) of the Electoral Act would prevent Akutah from participating in the election if he is presented as the APC governorship candidate, claiming that his alleged failure to resign from public office made him ineligible to contest.

The group also claimed that the APC, or any other political party that fields Akutah as its governorship candidate, could face legal consequences over his alleged non-compliance with the resignation requirement.

“His failure to resign on May 31, 2026 has made him ineligible to contest for the 2027 governorship election in the All Progressives Congress and also in any other political party,” the statement said.

The CDD argued that presidential directives constitute orders or policy guidelines issued by the President to the executive branch of government, provided such directives do not conflict with the Constitution or laws enacted by the National Assembly.

It cited Section 5 of the 1999 Constitution, which vests executive powers of the Federation in the President, and Section 130(2), which provides that the President is the Head of State, Chief Executive of the Federation and Commander-in-Chief of the Armed Forces.

The group argued that these constitutional provisions empower the President to issue directives to officials under his authority, including heads of ministries, departments and agencies.

It also cited Section 171 of the Constitution in arguing that the President’s authority over the appointment and removal of certain public officers reinforces his power to issue administrative directives to officials under his control.

The CDD alleged that President Tinubu’s directive requiring political appointees seeking elective office to resign by March 31, 2026 was issued to ensure compliance with electoral guidelines and promote fairness ahead of the 2027 general elections.

The group further referenced Section 88(1) of what it described as the Electoral Act, 2026, which it said provides that a political appointee at any level shall not serve as a voting delegate or be voted for at the convention, congress or primary of a political party for the purpose of nominating candidates for an election.

On that basis, the CDD argued that any political appointee who failed to resign in accordance with the directive would be ineligible to participate in a party’s nomination process or emerge as its candidate.

The group therefore called on Akutah to clarify his status within five days, warning that failure to do so would prompt it to pursue legal action over what it described as an alleged breach of the presidential directive and electoral law.

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Energy Consultants Retract Call for Ojulari’s Removal, Say Further Investigation Found ‘High Level of Transparency’ at NNPCL

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The Association of Energy Policy and Development Consultants (AEPDC) has retracted its earlier call for the removal of Bayo Ojulari, Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), saying further investigations showed that its initial position was based on incomplete and misleading information.

Dr Ibrahim Danjuma, national president of AEPDC, announced the reversal at a press conference in Kaduna on Friday, where he said the association had conducted further investigations, reviewed relevant documents and consulted industry stakeholders after issuing its initial statement.

Danjuma said the association’s subsequent findings revealed a high level of transparency in the management of NNPCL, particularly regarding the energy security expenditure and other financial obligations that had initially triggered its criticism of Ojulari.

“We have called this press conference today because we owe Nigerians an important explanation. A few days ago, the Association of Energy Policy and Development Consultants (AEPDC) issued a statement expressing serious concerns about the management of the Nigerian National Petroleum Company Limited (NNPCL), particularly the figures relating to energy security expenditure, pipeline protection and other claims contained in the company’s financial records,” he said.

“In that statement, we called for the resignation of Mr Bayo Ojulari, group chief executive officer of NNPCL, arguing that the information available to us at the time suggested a disturbing level of opacity and weak accountability in the management of the nation’s petroleum resources.

“Today, after conducting further investigations, reviewing additional documents and engaging with relevant industry stakeholders, we have come before you to formally retract that position.”

The association said its initial assessment had been influenced by “incomplete information, selective interpretations and narratives” that did not adequately reflect the circumstances surrounding the expenditure under scrutiny.

Danjuma said AEPDC subsequently examined NNPCL’s financial disclosures, the legal framework governing its energy security obligations, under-recovery mechanisms, claims against the federation and the operational circumstances behind the expenditure.

“What emerged from this exercise was substantially different from the picture initially presented to us. Our findings reveal a level of transparency in the current management of NNPCL that we believe deserves recognition rather than condemnation,” he announced.

The group said the energy security figures should not be treated as unexplained expenditure simply because they involved large sums, arguing that they must be assessed within NNPCL’s statutory responsibilities, its role as an energy supplier of last resort, petroleum pricing interventions and exchange-rate movements.

According to Danjuma, the association also found that NNPCL’s financial disclosures contained explanations that could enable the claims to be examined and independently scrutinised.

“On this basis, we believe our earlier characterisation of the NNPCL’s position as one of secrecy was unfair. We therefore apologise to the management of NNPCL, particularly Mr Bayo Ojulari, for the conclusion we reached before completing the level of investigation that this matter deserved,” he said.

He stressed that the retraction did not amount to abandoning the group’s demand for accountability.

“Our decision today is therefore not a retreat from accountability. It is accountability in practice,” Danjuma emphasised.

The consultants maintained that legislative and independent scrutiny of NNPCL’s finances should continue, but urged stakeholders to approach the issue objectively and avoid drawing conclusions from isolated figures.

AEPDC also urged NNPCL to continue publishing comprehensive financial statements and providing clear explanations for major expenditures, while calling for stronger systems for independently verifying and reporting energy security costs.

Danjuma said the association’s revised position was based on its responsibility to correct itself after discovering that its earlier assessment was not sufficiently supported by the full facts.

“We made a judgment. We investigated further. We found that the judgment was not sufficiently supported by the full facts. We are correcting it publicly,” he said.

The association subsequently withdrew its demand for Ojulari’s resignation and reaffirmed confidence in his leadership of NNPCL, while urging him and his management team to sustain transparency, accountability and efficiency in the management of Nigeria’s petroleum resources.

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