News
NDIC gets commendation for ensuring safety, soundness of Nigerian Banking system
By Joseph INOKOTONG
Sterling Bank Plc has commended the Nigeria Deposit Insurance Corporation (NDIC) for its immense contribution to the safety and soundness of the Nigerian banking system since its inception.
The Management of the bank gave the commendation during a courtesy call and formal introduction of its new MD/CEO Mr. Abubakar Suleiman to the NDIC, last week.
The outgoing Managing Director/Chief Executive Officer of the bank, Mr. Yemi Adeola noted that in the entire financial system, the NDIC was renowned for the excellence of its Bank Examiners and the laudable reputation they earned through the quality of their reports.
The Sterling Bank team was received by the Managing Director/Chief Executive Officer (MD/CEO) of the NDIC Alh. Umaru Ibrahim along with the two Executive Directors of the Corporation, Prince Aghatise Erediawa and Mrs. Lola Abiola-Edewor.
A statement from the NDIC said the outgoing MD/CEO informed the Corporation’s Management that the procedure for the selection of the new CEO of the bank was rigorous and ably handled by reputable consulting firm, KPMG.
While expressing the hope that the courtesy call would further strengthen the excellent relationship between the Bank and the Corporation, the Management of the bank also seized the opportunity to brief the NDIC on the outlook of the Bank which includes the planned expansion of its Non-Interest Banking (NIB) window.
He informed the NDIC Management of plan by Sterling Bank to apply for a license for a stand-alone NIB as soon as possible, adding that the decision was informed by the feasibility studies conducted by the bank, judging from the potential market and financial resources of customers expected to embrace NIB.
The meeting also provided a platform to discuss the prospects and opportunities in the Nigerian Banking system along with its challenges.
In his response, the MD/CEO of the NDIC thanked the Management of Sterling Bank for the visit and promised to sustain the cordial relationship.
He expressed the hope that the appointment of capable hands into the banking system would improve the performance of the sector, and also assured the incoming MD/CEO of Sterling Bank Plc. of his support in ensuring the growth of the bank.
Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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I am writing to felicitate with Your Excellency, Atku Abubakar, GCON, former Vice-President of Nigeria (Zege Mule u Tiv & Wazirin Adamawa)
on the occasion of your 79th birthday anniversary.
I join your teeming admirers globally in celebrating you on this special day, an adorable Statesman and my Boss.
I recall with nostalgia, how countless generations have benefited from your generosity, wealth of experience and benevolence including being my key benefactor even as a young lawyer for my professional success.
Your Excellency, may your special day be filled with grandeur befitting your illustrious career.
I wish you continued success, prosperity, and an unending stream of accolades.
It takes a remarkable kind of fortitude to remain active in public life well into one’s golden years. Your dedication and patriotism remain truly exceptional.
May you enjoy a day of reflection on your many years of fruitful service to humanity. It is my prayer that God Almighty grants you many more healthy, fruitful, and fulfilling years ahead, and continues to endow you with wisdom, strength, and the grace to keep contributing to our nation-building.
Happy Birthday, Your Excellency.
Michael Kaase Aondoakaa SAN.
Former Attorney General of the Federation and Minister of Justice
TAU reaffirms commitment to globally competitive learning
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