Business
…Appoints NDIC Liquidator Of 21 Mortgage Banks
The Central Bank of
Nigeria (CBN) has issued a notice of revocation of operating licences of 21 Primary Mortgage Banks (PMBs) as well as one microfinance bank via its gazette dated November 14 and 19, 2014.
A statement by the Nigeria Deposit Insurance Corporation (NDIC) Managing Director, Alhaji Umaru Ibrahim said, CBN has appointed NDIC the provisional liquidator to wind up affairs of the closed financial institutions.
To actualise its statutory powers the NDIC has issued a public notice announcing the closure of the financial institutions, stressing that it has commenced the process of orderly winding up of the affairs of the affected PMBS/MFB.
The NDIC said it would soon be making an announcement/publication to the verification and as payment of insured deposits, stressing that stakeholders can contact the NDIC’s Director, Claim Resolution Department or any of its zonal offices for necessary information and assistance.
The NDIC boss said available records showed that the PMBs portfolio at risk averaged 45.70 percent which is more than the prescribed five percent threshold.
He said the corporation’s attention is now being focused on the PMB sub-sector so as to address the emerging challenges especially in Credit Underwriting Standards.
Ibrahim said PMBs in the country can create significant impact if only they adhere to recommended corporate governance practices based on effective and sustainable risk management practices as instituted by the Regulatory Authorities.
He said PMBs should be interested in enhancing their Credit Underwriting Standards due to the fact that their loan portfolios are on a variable rate and therefore sensitive to Monetary Policy Rate (MPR) fluctuation.
Philip Okparaji
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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