Business
NDIC Charges Judges On Bank Fraudsters
The Nigeria Deposit Insurance Corporation (NDIC) last Monday urged judges of the Federal High Court to be ‘hard on Bank fraudsters’, so as to restore depositors’ confidence.
Alhaji Umaru Ibrahim, the Managing Director of the Corporation, made the call at a sensitisation seminar on “The Challenges to Deposit Insurance Law and Practice’’, for judges.
Ibrahim said that the judges’ understanding was needed to abate the fraud in the banking system.
He said that deliberate efforts should be geared towards quick dispensation of all pending liquidation-related cases.
Ibrahim said the corporation was faced with difficulties in the execution of court judgments.
He said the corporation had a vulnerable funding base, as well as difficulties in recovering debt owed to failed banks by debtors.
According to Ibrahim, most of the problems stem from poor public awareness and inadequate legal framework.
“The Nigerian judiciary, legal practitioners and other esteemed stakeholders have important roles to play in ensuring that the mandate of the Corporation is realised.
“As our partners and stakeholders, I urge you to use your good offices and privileged positions to ensure that the corporation is empowered to safeguard the Nigeria banking system.
In his opening address, Justice Ibrahim Auta, the Chief Judge of the Federal High Court, said the seminar was necessary to keep judges abreast with the operations of the NDIC, and the sustenance of the country’s economy.
“Acquiring such technical capacity will certainly enable us to make efficient, effective and informed decisions based on law for the interest of the nation’s economy,’’ Auta said.
Reports say that the court, which has exclusive jurisdiction over NDIC cases, handles the prosecution of directors and officers of banks suspected of banking malpractices.
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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