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NDIC Recovers N22bn Depositors’ Funds
The Nigeria Deposit Insurance Corporation (NDIC), has made a debt recovery of N22.79 billion in 2010, as against the N20.77 billion it recovered in 2009, Alhaji Umaru Ibrahim, its Managing Director, has said.
Ibrahim disclosed this in the 2010 annual report and statement of account of the NDIC, a copy of which was given to our correspondent in Abuja.
“The total cumulative recovery made by the NDIC in 2010 was N22.79 billion, as against N20.77 billion in 2009, representing an increase of over N2billion or about 9.7 per cent,’’ he said.
He said that in 2010, the corporation embarked on a number of aggressive debt recovery activities to facilitate and enhance liquidation dividends being paid to depositors.
Ibrahim said that the corporation used debt recovery agents and relevant law enforcement agencies, as well as the Assets Management Company of Nigeria (AMCON) to achieve the debt recovery.
“The NDIC has commenced discussions with AMCON to use its platform to dispose some of the risks assets of ‘banks-in-liquidation’.
“The NDIC has completed the segregation of all accounts, with outstanding balances of N100 million and above, and 174 accounts will be off-loaded to AMCON as soon as it takes off,’’ he added.
On the closed micro-finance banks (MFBs), Ibrahim said that that NDIC had compiled all the necessary information on 76, out of 104closed banks.
He said that the payment of their insured deposits commenced on December 6, 2010.
‘As at December 31, 2010,NDIC had paid over N559.2 million to 18, 520 depositors of the affected micro-finance banks.
“It is noteworthy that the payment was effected with minimum delay from the date of closure.
“The NDIC had since intensified efforts at obtaining the required information from the rest 27 MFBs, so that payment to affected depositors could commence in January 2011.’’
Ibrahim said that as at December 31, 2010, the corporation had also paid a total of N7.597 billion to insured depositors of the banks-in-liquidation.
He said that apart from the payment of insured sums, the NDIC had the additional responsibility of settling the claims of uninsured depositors, creditors and shareholders of the closed banks by paying liquidation dividends.
“The sum of N69.9 billion had been paid as liquidation dividends to 248,822 depositors as at the end of year 2010.
“The payment included the uninsured portion of private sector depositors of 11 out of the 13 banks closed in 2006.’’
Ibrahim said that at the end of 2010, N1, 500.33 million was earmarked for some creditors of the banks-in-liquidation, out of which the NDIC had paid N848.127 million to creditors who had filed their claims.
He also said that the cumulative liquidation dividends declared for the shareholders of three banks-in-liquidation as at Dec. 31, 2010 stood at N1, 513 million, out of which N1, 285.65 million had been paid.
Ibrahim noted that the cumulative dividends paid to uninsured depositors of the banks, under the “purchase as assumption arrangement’’, as at December 2010 totalled N63.52 billion, as against N59.443 billion paid in December 2009, reflecting an increase of N4.08 billion.
The Mayor of Housing, My-ACE China, has teamed up with a renowned hospital group in Port Harcourt, the Meridian Hospitals, which is in partnership with the Pilgrims Health Foundation, to carry out a one-day medical outreach last Tuesday.
The free treatment scheme took place at Oromenike Government Girls Secondary School in D-Line, Port Harcourt, with over 100 persons accessing free treatments, including free eye-glasses and booking for eye surgeries.
Other areas of treatment included general health consultations and treatment; blood pressure and sugar level testing; malaria testing and treatment; free prescriptions; preventive health talks focusing on hygiene, maternal health, and nutrition.
The scheme was conducted under the theme: ‘Bringing Healthcare to the Community.’
Newsmen who visited the venue of the scheme found that enthusiastic beneficiaries had thronged the area as early as 7a.m. After setting up, the medical team began attending to the patients.
Mr. Jerry Onwuso, a 63-year-old patient, who was first to see eye doctors and got eye glasses and drugs, told newsmen that he was pleased with the medical intervention.
He made it clear he did not pay any money to get all the treatments and glasses, and pleaded that the scheme be sustained.
Another patient, Loveth Sam, expressed satisfaction with the scheme and appealed to the sponsors to continue to increase the benefits.
Throwing some light on the scheme, Mr. China said he worked in Meridian Hospitals as a Lab. Scientist 19 years ago, but resigned because he could not bear to see patients struggling for life because they had no money to pay for treatment.
He said he came back to help extend free medical treatment to the less privileged.
Sources said China was always having issues with the hospital authorities when he would insist on critical patients being allowed to be treated first, with or without money.
Years later, China, who now goes by a brand name, the Mayor of Housing, returned to the Meridian Hospital headquarters to support free medical scheme.
He also went the next day to the headquarters of Meridian, after the one-day medical outreach, to give cash gifts and palliatives to workers he met when he worked there but had remained in service since he left.
He encouraged them to continue to give their all to humanity through the hospital. The Mayor of Housing called most of them by name and a cloud of emotions descended on them during the reunion.
Appreciating the gesture, the Founder and Chief Medical Director, Dr. Iyke Odo, said China had always manifested hard-work, ambition, and impulsive giving.
According to him, the then young bright boy was full of humanity, kindness, love, and made friends easily, adding that “not everybody that gives is a giver. The difference is that givers are given to give.”
Dr. Odo used the opportunity to call on governments to review Nigeria’s health insurance system and make it work in Nigeria to save lives.
He said it was sad watching critically sick persons abandoned because they did not have money for treatment.
He also condemned harsh tax and electricity tariffs whereby facilities like his now pay N12 million instead of N500,000 few years back.
He wondered why hospitals were being made to pay tariffs like oil companies, citing many other countries where medical facilities were placed on low rates and tariffs so they could charge moderate fees from patients.
The Renewed Hope Initiative in conjunction with the Rivers State Government has empowered 500 elderly citizens in Rivers State with financial support of N200,000 each.
The empowerment programme was part of activities to celebrate the third anniversary of the Renewed Hope Initiative Elderly Support Scheme RHIESS, a social investment policy initiated by the First Lady of the Federal Republic of Nigeria, Senator Oluremi Tinubu.
Speaking at the event which held at the Government House, Port Harcourt, recently, under the theme, ‘Finding Joy in Old Age,’ Senator Tinubu said the gesture which has become traditional since 2023 was a mark of gratitude in recognition of the invaluable contributions of the senior citizens to nation building.
The First Lady who was represented by the wife of the Rivers State Governor and State Coordinator of the Renewed Hope Initiative, Lady Valerie Fubara, said the scheme was to “support two hundred and fifty (250) vulnerable elderly citizens aged 65 and above in all the 36 states of the federation, the Federal Capital Territory, and veterans from the Defence and Police Officers’ Wives Association (DEPOWA) totalling 9,500 selected beneficiaries across the nation.
She urged the beneficiaries to engage in activities that will make them find joy in old age.
“I encourage you to continue playing your part by staying healthy and active, nurture both your body and mind through regular exercise and meaningful engagement,” Senator Tinubu advised.
On her part, Lady Fubara said the State Government through the magnanimity of the governor, Sir Siminalayi Fubara, has increased the beneficiaries of the programme from 250 to 500.
She restated the commitment of the State Government towards provision of social welfare and improving the standard of living of the elderly in the State.
Also speaking, the Executive Secretary, Rivers State Contributory Health Protection Programme (RIVCHPP), Dr Vetty Agala, said the State Government has through the Health4allrivers Initiative, introduced free medical care for senior citizens in the State, in line with the Renewed Hope Initiative.
