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Breaking: Tinubu floors Atiku at Supreme Court, INEC results affirmed
Breaking: Tinubu floors Atiku at Supreme Court, INEC results affirmed
The Supreme Court has dismissed all the grievances of Atiku Abubakar against the election of Bola Tinubu as Nigeria’s President as declared by the Independent National Electoral Commission.
The apex court gave the declaration on Thursday in a judgment delivered on Thursday by leader of the seven-member judges, Justice Inyang Okoro, and consented to by others.
After the Supreme Court had dismissed the application of Atiku for admittance of fresh evidence of forgery against Tinubu, it went on to knock off the other seven grouses listed as bases for nullifying the election victory of Tinubu.
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NDIC jacks up deposit insurance cover from N500,000 to N5m
NDIC jacks up deposit insurance cover from N500,000 to N5m
The Nigeria Deposit Insurance Corporation (NDIC) has announced a significant increase in the maximum deposit insurance coverage levels for Deposit Money Banks (DMBs) and other financial institutions, effective immediately.
During a press conference in Abuja on Thursday, NDIC Managing Director Bello Hassan disclosed, “For Deposit Money Banks, the increase of the maximum deposit insurance coverage from N500,000 to N5,000,000, would provide full coverage of 98.98% of the total depositors compared with the current cover of 89.20%. In terms of the value of deposit covered, the revised coverage would increase the value of deposits covered by deposit insurance to 25.37% compared with the current cover of 6.31% of the total value of deposits.”
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Hassan further explained, “The increase of the maximum deposit insurance coverage for primary mortgage banks from N500,000 to N2,000,000 would provide full coverage of 99.99% of the total number of depositors and would increase the value of deposits covered by deposit insurance to 43.10% of the total value deposits from the current cover of 40.60%.”
Additionally, Hassan noted, “The increase of the maximum deposit insurance coverage for subscribers of Mobile Money Operators from N500,000 to N5,000,000 per subscriber.”
NDIC jacks up deposit insurance cover from N500,000 to N5m
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Drama as Delta workers boo Gov Oborevwori over minimum wage
Drama as Delta workers boo Gov Oborevwori over minimum wage
Delta State workers expressed their disappointment with Governor Sheriff Oborevwori on Wednesday as he failed to address the issue of minimum wage during the 2024 May Day celebration in Asaba, themed “People First.”
Anticipating news on the minimum wage, the workers were disheartened when the Governor concluded his speech without mentioning it, prompting them to chant, “no, no, no, we no gree, pay us our minimum wage.”
Despite the interruption, Oborevwori stood firm, stating, “Listen to me, listen to me, calm down, calm down, you cannot cajole me.”
The celebration, which included a march past by various affiliate unions, turned sour due to the workers’ dissatisfaction with the governor’s silence on the wage issue.
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According to a union leader, previous attempts to address the matter with the Governor proved futile.
In response, Governor Oborevwori announced plans to establish a committee to address the workers’ demand for salary increases amidst prevailing economic challenges. He praised the workers for their support and assured them of his administration’s commitment to workers’ welfare.
“I have listened attentively to your requests, and I have taken note of them; they are, no doubt, legitimate demands and as a responsible government, I will deliberate with my team on how best to address them within the limits of the resources available to us,” he affirmed.
In a statement delivered by Comrade Goodluck Ofobruku, the State Chairman of the Nigeria Labour Congress, NLC, he emphasized the importance of politicians keeping their promises, stating, “We want promise keeper politicians because, as workers, we keep records of promises.”
Drama as Delta workers boo Gov Oborevwori over minimum wage
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Two million bank accounts closed over BVN, NIN, others
Two million bank accounts closed over BVN, NIN, others
Commercial banks in Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q1’24, to clean their books of questionable accounts and comply with regulatory orders on the linkage of bank accounts to the National Identity Number, NIN.
This is contained in a report by the Nigerian Interbank Settlement System, NIBSS, which also indicated that the number of inactive bank accounts grew month-on-month, MoM, by four million or 2.0 per cent to 19.7 million in March 2024 from 19.3 million in the previous month, February.
A bank account is classified inactive when it records zero transactions including deposits, withdrawals, transfers or point-of-sale transactions for six months.
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However, details of the “Industry Bank Account Database”, a monthly data reported by banks, and compiled by the Nigerian Interbank Settlement System, NIBSS, also indicated that the number of active bank accounts grew by 6.62 million or 3.0 per cent to 219.64 million from 213.02 million in February.
Recall that in December 2023, the CBN issued a directive to all commercial banks in the country to restrict tier-1 accounts without proper Biometric Verification Number, BVN, and National Identity Number, NIN, that are not linked by Thursday, March 1st, 2024.
According to NIBSS data on BVN enrollment count, 61.6 million Nigerians have BVN as of April 2024.
Two million bank accounts closed over BVN, NIN, others
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