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NDIC Begins Liquidation Of 182 Insolvent Banks Axed By CBN

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From lateef Taiwo

Towards ensuring financial stability and sustainable economic development as envisaged by the current Federal Government, FG, led by President Bola Tinubu, the Nigeria Deposit Insurance Corporation, NDIC, has assured that machinery was in place to ensure smooth liquidation process of no fewer than 178 Micro Finance Banks, MFBs, and four Primary Mortgage Banks, NFBs, whose operational licences had been withdrawn by the Central Bank of Nigeria, CBN, over insolvency and non recapitulation.

Speaking at a two – day workshop for senior management executive staff of the NDIC, held in collaboration with the Bureau of Public Procurement BPC, yesterday at the Four Points By Sheraton Hotel, Ikot Ekpene Local Government Area of Akwa Ibom state, the Managing Director, MD, of NDIC, Bello Hassan, stressed the need for efficiency and transparency in public procurement processes by Ministries, Departments and Agencies, MDAs, as well as Corporations for the overall wellbeing of the country.

Represented by the Director of Operations, DoP, of the agency, Mustapha Ibrahim, the NDIC Chief Executive Officer, CEO, the firm is seriously neck-deep in ensuring proper and effective liquidation of the no fewer than 178 MFBs and four PMBs by ensuring seamless settlement of customers, recovery of debts owed the affected banks, sale of physical assets and payment of liquidation dividends on the uninsured sum

He said: “The NDIC will continue to play its role as a key player in the financial safety net arrangement of the country’s banking system as a deposit insurance in line with the lender of last resort’s function of the CBN. These components will continue to safeguard the safety and soundness of the banking system as well as promoting financial stability.

“In that regard, following the recent revocation of licences of 178 NFBs by the CBN, and four PMBs, the NDIC has commenced the liquidation exercise with the main purpose of paying the guaratied sum, recovery of debts owed the banks, sale of physical assets and payment of liquidation dividends on the uninsured sum.

“The NDIC is hereby assuring the depositors of the closed banks of speedy payment of their insured sums as the Corporation is leaving no stone unturned to ensuring that no room is left for public panic over the safety of banks’ deposits. This will create the enabling environment for the financial system to appropriately support the economic advancement of our great nation, and also contribute meaningfully to the financial system stability.”

In the same vein, the Director General, DG, Bureau for Public Procurement, BPP, Mamman Ahmadu, represented by a senior Director of the agency, Aliyu Aliyu, underscored the importance of the workshop as a major avenue over the years to strengthen collaboration and synergy with the NDIC to enhance due process in public procurement in line with the relevant sections of the Public Procurement Act, PPA, 2007, as amended.

He, therefore, stressed the need for imbibing the electronic procurement (e -procurement) system, which he noted, was effective and transparent in order to curtail frauds and other financial crimes in the procurement regime by various Ministries and Agencies of government.

“You must have your procurement plans before you begin procurement,” he stressed and charged those saddled with such responsibilities to imbibe highest level of integrity and transparency as enshrined in the BPP Act

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Hon. Hamma Adama Ali Kumo Applauds APC Consensus, Declares Full Support for Dr. Jamilu Gwamna and Governor Yahaya’s Senatorial Bid

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Hon. Hamma Adama Ali Kumo, National Deputy Financial Secretary of the All Progressives Congress (APC), has congratulated Dr. Jamilu-Isiyaku Gwamna on his emergence as the party’s consensus governorship candidate for Gombe State ahead of the 2027 general elections.

In a statement issued in Abuja, Hon. Kumo described Dr. Gwamna as “a visionary leader, accomplished technocrat, and grassroots mobilizer whose credibility and capacity will strengthen the APC’s position in Gombe.” He noted that the consensus arrangement reflects the party’s commitment to unity and inclusiveness, adding that it is a step toward consolidating APC’s achievements in the state.

Hon. Kumo called on all aspirants who contested for the governorship ticket to rally behind Dr. Gwamna, stressing that collective effort is essential for the APC to secure victory. “Every aspirant remains a vital pillar of our party. By joining hands with Dr. Gwamna, we can ensure APC’s continued dominance and deliver progress for the people of Gombe,” he said.

He further commended Governor Muhammadu Inuwa Yahaya for his exemplary leadership, which has brought peace, infrastructural development, and political stability to Gombe State. Hon. Kumo emphasized that the governor’s guidance was instrumental in the smooth adoption of consensus candidates, describing him as “a leader whose vision has transformed Gombe and whose legacy will endure.”

Hon. Kumo also reaffirmed his support for Governor Yahaya’s senatorial aspiration, expressing confidence that his wealth of experience will bring quality representation to the National Assembly. He noted that Yahaya’s senatorial bid complements Dr. Gwamna’s governorship candidacy, creating a formidable team to advance APC’s mission in Gombe.

Concluding his remarks, Hon. Kumo urged party members, stakeholders, and the electorate to remain steadfast in their support for APC candidates, assuring that with unity and determination, the party will deliver victory and sustain progress in Gombe State.

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Nassarawa 2027: Crisis Rocks APC as Lawyer petitions governor Sule anointed Aspirants over dual membership of SDP/APC.

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A legal practitioner in Nasarawa State and member of the All Progressives Congress (APC), Barr Tari Trochon has submitted a Formal petition to the National Secretariat of the party demanding proper investigation into the alleged dual membership of Senator Aliyu Ahmed Wadada.

Senator Wadada has won elections into the Senate in 2023 on the platform of the Social Democratic Party (SDP) and has emerged the preferred choice of Governor Abdullahi Sule of Nassarawa State for the APC Governorship primaries scheduled for May 21st 2026.

According to the petition signed by Barr Trochon from Nakere ward of Wamba LGA, “we demand immediate investigation into Wadada membership and compel him to produce verifiable evidence of resignation from the SDP which should be verified from the national leadership of the SDP and not forged documents.

“His disqualification from the participation in the primaries if he fails to establish lawful and exclusive membership of the APC among other legal violations of the Constitutional provisions by Wadada participating in the process while holding dual membership of SDP and APC”

The legal Practitioner warned that allowing Wadada participate in the forth coming gubernatorial primaries would amount to institutional endorsement of illegality that will set the grounds for pre-election legal challenges that might lead to disqualification.

” The enormous credibility issues bothering on how his failure to inform the Senate of his alleged defection, nine months after, provides a fertile ground for litigations that may be costly to the APC in Nasarawa State if he is not stopped.

“We are aware that the SDP is set to take Senator Wadada to court over his defection to APC while still maintaining his membership with SDP simultaneously” he said.

The Petitioner added that in view of time constraint, he will be left with no other option than to proceed to court in order to save the APC in Nasarawa State from imminent problems that may cost us electoral misfortunes.

“There is prima facie infraction of section 222 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), section 77 of the Electoral Act 2026, Conventions of the Senate and clear expressions of lack of credibility and character which must be looked into.

“He shouldn’t go into our Direct Primaries, and we’ll ensure the Courts stop him from further participation” he said.

He maintained that the Petition has since been submitted to the APC national Secretariat, signed received and acknowledged.

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NEW LAFIA BYPASS ENDS YEARS OF TRAFFIC NIGHTMARE, TRANSFORMS MOBILITY AND LIVELIHOODS

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BY MOHAMMED MUSA

Residents and motorists in Nasarawa State are already feeling the relief that comes with good infrastructure, as the main construction of the Lafia bypass has been completed, slashing travel time through the state capital from 45 minutes to just 15 minutes.

The bypass, a critical section of the Keffi Road Phase II project, was constructed by China Harbour Engineering Company, CHEC, and its completion is quietly transforming local traffic conditions. Although the formal handover is still being prepared, many residents and drivers say the improvement in travel time and road environment is unmistakable.

For years, Lafia, the capital of Nasarawa State, has groaned under the weight of heavy transit traffic. As a major gateway linking Abuja to Makurdi and the eastern corridor, all long-haul vehicles had no choice but to crawl through the city centre. The result was predictable: congestion, wasted man-hours, higher fuel consumption, and increased safety risks for both residents and commuters.

However the story has changed.
Abdullahi Mohammed , a small shop owner in Lafia and a regular traveler on the route, captures the mood on the street. “It used to take about 45 minutes to pass through the city, especially when heavy trucks were on the road. Traffic jams and delays were common,” he said. “Now, with the completion of the Lafia bypass, it only takes about 15 minutes to get across. These past few days, the roads feel much smoother, and going out is more reassuring.”

The impact is even more direct for commercial drivers who earn their living on the road. A freight driver who spoke with our correspondent explained that the old route through the city was not just slow but costly. “Previously, vehicles had to pass through the city, which was time-consuming, increased fuel consumption, and posed safety risks,” he noted that, “now with the bypass, we save time and it’s safer. This is very important for those of us in transport because we save on fuel consumption and time spent on the road, which has greatly improved profitability.”

It is worthy of note that, Lafia has long endured heavy transit traffic pressure, with urban roads often congested during peak hours. The city’s status as an administrative and commercial hub means that local traffic already competes for limited road space. The hundreds of trailers and tankers heading to Benue, Cross River, and beyond, through Lafia put a lot of strain on Lafia’s inner roads.
With the completion of the bypass’s main works, transit vehicles will gradually be diverted, easing the burden on city traffic. The benefit goes beyond speed. Improved road conditions will also provide more efficient channels for agricultural product transport and daily goods circulation. Nasarawa is an agrarian state, and farmers along the corridor stand to gain from faster access to markets in Abuja and Makurdi. For residents, it means fresher produce, lower transport costs, and a tangible lift in quality of life.

The bypass is not just another road; it is a strategic intervention that had stalled for years before the current administration revived it. Delivering it required more than engineering skill, it demanded discipline, planning, and resilience.

Despite a complex security environment, the CHEC construction team advanced steadily by strengthening site management and optimizing construction organization. The company ensured the smooth completion of the section in record time, maintaining standards across earthworks, hydraulic structures, stone base, asphaltic concrete, and drainage.
The result is a road that meets specification and already delivers value before formal commissioning. Preparations for handover are now underway, and the bypass’s traffic relief function will gradually take effect. Industry observers note that CHEC’s ability to deliver under pressure reinforces its reputation for quality and timely delivery on federal road projects across Nigeria.
Engr Shuaibu Abdullahi the Principal Engr Federal Ministry of Works Lafia Field Headquarter, Nasarawa State couldn’t have put it better while commending CHEC and the impact of the bypass: “The Lafia bypass road project stands as a transformative and important road corridor for both the community along the road and commuters. By significantly reducing travel time between Lafia and Makurdi, easing traffic congestion within Lafia metropolis, and lowering vehicle maintenance costs, the project enhances mobility, productivity, and overall quality of life. Equally impactful is the lifesaving construction of drainage systems in Mararaba, a deliberate corporate social responsibility effort by the contractor aimed at mitigating the effects of perennial flooding, safeguarding lives, property, and livelihoods. Together, these interventions not only improve access to markets for farm produce but also reinforce a commitment to sustainable development and community well-being.”

In a similar vein, Abdullahi Shehu Kasimu the Village head of Mararaba Akunza gave commendation to CHEC for its Corporate Social Responsibility works to control flooding on the Mararaba axis of the road corridor: “On behalf of the Mararaba Akuza community, we wish to express our sincere appreciation to Messrs CHEC for coming to our aid through the expansion of drainage facilities in Mararaba Akuza. For many years, the community suffered persistent flooding that damaged homes and property, but this intervention has brought much-needed relief.
Today, residents are already experiencing the positive impact of the upgraded drainage system, which has significantly improved water discharge and offers lasting protection against future flooding.
We also extend our gratitude to His Excellency, Engr. A. A. Suleiman, the Executive Governor of Nasarawa State, for his prompt response to our concerns and support for this intervention”.

Expectation is high in Lafia. “If it can be fully opened soon, it will be good for all of us,” said Aliyu Subair, echoing a view expressed by several residents. For traders, students, civil servants, and transporters, the bypass represents time recovered and costs saved. For the state government, it frees up inner-city roads for local use and reduces maintenance pressure caused by heavy-duty vehicles.

As follow-up works continue, this vital regional corridor is steadily unlocking its value for people’s livelihoods and national development. The bypass does three things at once: it cuts travel time by 66 percent, improves road safety by separating through-traffic from city traffic, and creates an economic artery for Nasarawa and neighboring states.

The completion of the main works is proof that with political will, proper funding, and competent contractors, Nigeria can turn frustration into free flow. CHEC’s delivery of the Lafia bypass to good standard and in record time sets a benchmark for how critical road interventions should be executed.

For Abdullahi Sabo, the shop owner, the change is simple but profound: “Going out is more reassuring.” For Nigeria’s transport economy, it is another step toward an integrated, efficient road network.

The Lafia bypass may have been built quietly, but as an important local transportation milestone, the project has improved the regional road network, eliminated urban congestion, and enhanced traffic safety. Supported by complementary drainage works, it has addressed flooding issues affecting livelihoods, effectively driving commercial and agricultural upgrades along the route, revitalizing the regional economy, and becoming a benchmark project for high-quality infrastructure cooperation between China and Nigeria

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