Business
NDIC Wants Sanctions For Non-Performing Insider Loans

She Nigeria Deposit Insur
ance Corporation (NDIC) says it is concerned about the increasing figure of non-performing insider loans in banks and directed banks to impose strict sanctions on defaulters.
This is contained in a statement issued recently in Abuja by the Head, Communication and Public Affairs of NDIC, Mr Hadi Birchi.
It quoted Alhaji Umaru Ibrahim, the Managing Director, NDIC, as expressing the concern when the newly elected President, Chartered Institute of Bankers of Nigeria (CIBN), Prof. Segun Ajibola, visited him in Abuja.
According to Ibrahim, the development had posed credibility questions which were capable of eroding public confidence in the banking system.
He called for strict compliance with the existing code of conduct and a review of the existing laws to provide stiffer penalties for directors of banks who are guilty of the act.
The NDIC boss also decried the casualisation of workers in the banking industry, adding that the development has a negative impact on the system.
According to him, casual staff accounted for about 25 per cent of the banking industry workforce.
He noted with concern the practice whereby some banks assigned sensitive roles to casual staff; thereby exposing the banking industry to cases of fraud and forgeries.
Speaking on the recent staff rationalisation embarked upon by banks, Ibrahim enjoined the banks to exercise caution so as not to create industrial unrest in the industry.
He therefore called on the CIBN to intervene by advising its members on the aim of the rationalisation, which should be to weed out bad eggs from the industry.
Ibrahim said that the corporation would continue to partner with the CIBN and other professional bodies towards achieving effective capacity building among its staff.
The NDIC boss also disclosed that 77 members of its staff were currently undergoing the Bangor/CB MBA programme which commenced three years ago.
“The Bangor/CB MBA programme is an initiative of the NDIC, the CIBN and the Bangor University, Scotland, where staff of the corporation undergo up to 24 months training programme.
“They graduate with dual certification, an MBA and Chartered Banker of Scotland, and 14 members of staff have already graduated from the programme,’’ he said.
Ibrahim urged CIBN to fast track the accreditation of the Corporation’s Training Academy and the introduction of the Deposit Insurance System (DIS) in the institute’s curricula to broaden professionalism in the industry.
The CIBN President had earlier appreciated the corporation for its positive contributions to the activities and programmes of the institute.
He commended NDIC for its support towards the establishment of the CIBN Bankers House in Abuja and for its contribution in ensuring stability in the banking system.
Ajibola assured Ibrahim that the accreditation committee of the institute would soon visit the NDIC Academy.
He appealed to the NDIC boss to further collaborate with the institute on training and other issues of mutual interest.
Business
NCAA Certifies Elin Group Aircraft Maintenance

Business
SMEDAN, CAC Move To Ease Business Registration, Target 250,000 MSMEs

Business
Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
-
Oil & Energy4 days ago
Digital Technology Key To Nigeria’s Oil, Gas Future
-
News4 days ago
Disclose appointment process of INEC chairman, SERAP tells Tinubu
-
Rivers2 days ago
MOSIEND Hails DELGA Chair Over Inclusive Leadership
-
News4 days ago
2027: Tinubu’s Presidency Excites APC Stalwarts…As Group Berates NWC For Party Crisis In Bayelsa
-
Niger Delta4 days ago
Ewhrudjakpo Tasks CS-SUNN On Effective Nutrition Awareness
-
News2 days ago
Fubara Wades Into Emuoha LG, Workers Conflict ….As NULGE Suspends Strike.
-
Sports4 days ago
Akomaka Emerges South South Representative Board Member In NCF
-
Sports4 days ago
Tottenham Salvage Point Against Wolves