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Garbamahmud4
NDIC Set To Liquidate 42 Microfinance Banks
~3.4 mins read
Nairametrics

Nairametrics

FINANCIAL SERVICES

NDIC set to liquidate 42 Microfinance Banks

NDIC is officially closing 42 MFBs whose operating licenses had earlier been revoked by CBN.

Published

 5 hours ago 

on

 December 20, 2020
154 failed banks: Insurance corporation commences payment to depositors , NDIC settles over 500,000 failed banks, MFB depositors, Defunct Savannah Bank not yet liquidated  NDIC clarifies , NDIC to use AI, digital technology to tackle emerging threats to banks , NDIC extends insurance coverage to mobile money subscribers, FG moves to capture 80% of Nigerians in formal financial services sector 

The Nigeria Deposit Insurance Corporation (NDIC) is verifying the claims of stakeholders of the 42 microfinance banks (MFBs) that recently lost their operating licenses in the latest efforts of the Central Bank of Nigeria (CBN) to sanitize and weed technically insolvent operators in the industry.

READ: Nigerian economy to grow by 2.38% in Q4  CBN 

The NDIC will conduct the verification exercise between Monday and Thursday 24 December at the branches of the MFB and will involve meeting with the depositors, creditors, and shareholders of the banks to ascertain their relationships, as well as their deposits in preparatory to their liquidation by the corporation, which is statutorily empowered to do so.

READ: Nigerias manufacturing sector gains momentum in November, first time in 6 months

According to NDIC Twitter handle,

  • This is to inform the depositors, creditors, shareholders and the general public that the operating licenses of the under listed forty-two (42) Microfinance Banks (MFBs) have been revoked by the Central Bank of Nigeria (CBN), effective 12th November 2020.
  • The Nigeria Deposit Insurance Corporation (NDIC), the Official Liquidator of the banks whose licenses were recently revoked, is in the process of closing the listed banks and pay their insured Depositors.
  • We, therefore, request that all depositors of these banks should visit the closed banks addresses and meet NDIC officials for the verification of their claims, commencing from Monday, 21st December 2020 till Thursday, 24th December 2020.
  • READ: Update-#EndSARS: Flutterwave Chairman says he ordered closure of firms payment platform

    What you should know

  • The Central Bank of Nigeria (CBN) on 12th November 2020, revoked the licenses of the banks and the NDIC is expected to prepare their rites of passage to finally close the regulators books on them.
  • In 2018, over 153 Micro-Finance Banks (MFBs) and six Primary Mortgage Banks (PMBs) lost their operating licenses, according to the 2018 Annual Reports of the NDIC. This latest revocation is another in the series of clean up by the two banking regulators (NDIC and CBN).
  • Most MFBs have been battling with high level of non-performing loans which had inevitably resulted in high portfolio risk (PAR) and impaired their capital and liquidity to do businesses.
  • The 42 MFBs are Hedgeworth MFB, Utako, Abuja; Future Growth MFB, Utako, Abuja; Bagwai MFB, Bagwai LGA, Kano; Ere City MFB, Oriade LGA, Osun State; Cafon MFB, Garki II, Abuja; Akcofed MFB, Uyo, Akwa-Ibom State; Gufax MFB, Uyo, Akwa Ibom State, Partnership MFB, Onitsha, Anambra State; ICB MFB, Ilah, Delta State; Onima MFB, Ezinihite Mbaise LGA, Imo State; and Hometrust (NATIONS) MFB, Nkwere, Imo State.
  • Also on the list are Ringim MFB, Ringim, Jigawa State; Bigthana MFB, Ali Akilu Road, Kaduna; Rogo MFB, Rogo LGA, Kano State; Makoda MFB, Makoda LGA, Kano; Takai MFB, Takai LGA, Kano State; Bebeji MFB, Bebeji L.G.A., Kano State; Ajingi MFB, Ajingi LGA, Kano State; Garko MFB, Garko, Kano; Kangiwa MFB, Kangiwa LGA, Kebbi State; Augie MFB, Augie LGA, Kebbi State; Mopa MFB, Mopa, Kogi State; Solid Base MFB, Ijumu LGA, Kogi State; Ultimate Benefit MFB, Lokoja, Kogi State; Ovidi MFB, Okene, Kogi State; Kirfi MFB, Kirfi LGA, Bauchi; Credit Express MFB, Kakawa Street, Lagos; King Solomon MFB, Western Avenue, Iponri, Lagos; Riggs MFB, Victoria Island, Lagos; Billionaire Blue Bricks MFB, Ajah, Lagos; Susu MFB, Yaba, Lagos; Wealthstream MFB, Apapa, Lagos; Aguda Titan MFB, Ogba, Lagos and Sapphire MFB, Uyo, Akwa Ibom State.
  • The list also includes Metro MFB, Ogba, Ikeja, Lagos, Mountain Top MFB, Trade Fair Complex, Lagos; Unyogba MFB, Ofu LGA, Kogi State; Wapo MFB, Okene, Kogi State; Ibogun MFB, Ifo LGA, Ogun State; Korede MFB, Igbotako, Ondo State; Ahetou MFB, Ogba/Egbema/Ndoni LGA, Rivers State and Fufore MFB, Yola, Adamawa State.
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    LadyQeenmother2020
    Smart Shopping Smart Earnings
    ~1.1 mins read
    This is how MyBonus works. MyBonus is an app that allows you to provide positive reviews  to sellers, thereby increasing their sales and brand awareness on the internet.
    Register through the link below 
    https://mybonus2u.ssdh5.com/register/?qr=5814525

    MyBonus users only provide product reviews and ratings without actually purchasing the products, so MyBonus users will not receive any products but get paid commission for giving the reviews which is the 60 orders.

    How much do I need to recharge and complete 60 orders to get paid?

    Your account balance needs at least 1000 Naira to unlock Silver Hall, and you can participate in smart shopping orders and earn high commissions. Your top-up funds are equal to the margin, you can withdraw the money at any time.

    Example: if you register with my link above and you recharge minimum of #1000 and u complete 60 orders (shopping) you will get nothing less than #30 profit your total  money for that day will be #1030+ meanwhile you will get 3%+ everyday on any amount in your account after you complete 60 orders which you can complete in less than 5 mins. What of if you have 10k in your account, u will making #300 profit for the first day and it will increasing everyday. And you can withdraw your money to your bank account anytime and its instantly... If u can refer u will still earn few commission on them till 3rd generation.

    You can chat me up if you don't understand.

    Hurry up now !

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    Bkay
    Naira Marley Shades #ENDSARS Protesters Blaming Burna Boy, Toyin Abraham
    ~1.2 mins read
    Naira Marley Shades #ENDSARS Protesters Blaming Burna Boy, Toyin Abraham by damilola4162(m): 5:20pm On Oct 09
    Popular Nigerian singer Azeez Adeshina Fashola, better known as Naira Marley who has shade #ENDSARS protesters castigating Nolly wood actress Toying Abraham and singer Burna Boy for not participating in the peaceful protest ongoing nationwide.

    The singer who gave the caution on his verified tweeter handle on Friday afternoon, said, anybody can lead the protest, adding that it musn't be celebrities that would lead the protest.

    He added that everyone is entitled to do any thing he or she like, saying they should levae them alone.

    "You dont need celebrity to lead a protest before you protest. You have the same rights as them. We are all Nigerians, You can be a leader today. Take ur dad, mum, brothers and sisters out there and protest if u believe thats the answer.

    "Leave Burna boy and Toyin Abraham.... leave who no protest.. its a free world let them do what they want haha.. stay focus... lets drag the government..,"he tweeted.

    It would be noted that Naria Marley himself had previously pledge to lead the protest on October 6, but later cancelled the protest after many plead from the Minister of Youth and Development Sunday Dare as well as the Inspector General of Police ( IGP) Mohammed Adamu, not to do so.

    He(Naria Marley) has given the government a one week altimatum to make changes about SARS.



    Source: https://insidenaija.com.ng/naira-marley-shades-endsars-protesters-castigating-burna-boy-toyin-abraham-for-not-joining-protest/

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    Ndoma
    Sanwo-Olu, Has Presented Cars, Among Other Gifts, To Outstanding Teachers And School Administrators In The State.
    ~2.4 mins read

    Some teachers in Lagos state have smiled home after they become car owners courtesy of Governor Babajide Olusola Sanwo-Olu.

    The governor presented cars, among other gifts to outstanding teachers and school administrators in the state.

    The governor did this in fulfilment of his promise to reward excellence and hard work in the teaching profession.

    According to him, the initiative is in line with the governments commitment to using education as a weapon to change the world.

    He added that this was also developed towards rewarding selflessness, dedication and diligence amongst teachers in the State.

    Sanwo-Olu puts smiles in teachers' faces, gives them car gifts

    Sanwo-Olu, has presented cars, among other gifts, to outstanding teachers and school administrators in the state. Photo:@followlasg

    Going further, the governor said that the success of students also depends on teachers.

    Some Nigerians are making money from insecurity, Rotimi Amaechi claims

    His said:

    Our teachers must continue to uphold the ethics of the teaching profession and display an uncommon sense of responsibility and greater commitment to duty.

    Meanwhile, Legit.ng had earlier reported that the continuous hardwork and passion of Salisu Adamu is about to be rewarded,

    Salisu Adamu - a traffic warden despite being one-legged - according to a Linkedln user carried out his traffic controlling duties effectively.

    Adeyemi Ajayi, a HR expert and advocate for people with disability, while showering praises on Salisu, on Linkedln, appreciated the Lagos state government for adding him to the Lagos State Traffic Management Authority (LASTMA) staff.

    Legit.ng also reported that taxpayers in Lagos have until March 31, 2021, to pay their outstanding tax to the state government as Governor Babajide Sanwo-Olu plans to meet its monthly tax revenue target of N60.318 billion.

    Seyi Alade, the director of legal services for the Lagos state internal revenue service, said taxable persons shouldn't wait until a notice is sent or demand is made, NAN reported.

    He said self-employed and salary earners should meet the deadline as failure to file tax returns will attract punishment. Explaining what the law says about tax payment, Alade said:

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    Emy1010
    THE CHURCH PHARISEES
    ~2.3 mins read
    THE CHURCH PHARISEES

    “Hello! How dare you come before me to say that God spoke to you . . . . when did you join the church?”

    The quote above, speaks volume of a church pharisee. They believe strongly in upholding the church tradition.

    The church pharisee are a sect of religious individuals as members, elders or leaders who hold tenaciously to certain doctrinal values in the church. They believe in doing certain things in the old traditional ways.

    An elder, as a church pharisee, will never yield to spiritual directive as long as that directive comes from a member assumed to be beneath them in the spiritual hierarchy. A church pharisee believes strongly in ‘spiritual hierarchy’. I want to state this clearly, that, there is nothing like spiritual hierarchy but spiritual ranking.

    Spiritual hierarchy arranges man like a pyramid, one above the other while in spiritual ranking  all men are equal spiritually but some are gifted more in specific areas of spirituality than others. Furthermore, in spiritual ranking, no one is more important than the other because we all still need each other in the Body of Christ . this is more like a symbiotic relationship.

    To further understand the church pharisee, lets look at some scriptures: Matt 23:2; Ezra 7: 6/25; Neh. 8:4 and Jude 1:9

    Matt 23:2 (KLV)

    “Saying, the scribes and the pharisee sit in Moses seat”

    Joel 1:9 (KJV)

    “Ye, Michael the archangel, when contending with the devil he disputed about the body of Moses, durst not bring against him a railing accusation but said , The Lord rebuke thee”

    The Epistle of Jude 1:9 further explains Matt. 23:2. There was an attempt by the devil to institutionalize Moses. If he has succeeded, the children of Israel would have abandon GOD and worship Moses, occupying the seat of Moses and being a scribe of the law of Moses simply means there is that strong hold on the old doctrine and traditions of the church, These ones find it difficult to understand the new move of the Holy Spirit.

    Moreover, whenever the Lord speaks about another reformative move they would be unable to perceive or hear the voice of the Lord. Their inability to hear from GOD makes them to oppose or doubt the move of GOD. This is also as a result of an unveiled or uncircumcised heart.

    Church pharisees believe that they can predict the way or ways GOD will move and therefor anything contrary they will disbelieve and oppose such move. They have defined the ways of GOD. These leaders would remain seated in Moses seat (An unshaken traditional doctrines) as long as their heart remain veiled.

    They champion church politics and are always in the forefront to decide the fate of “erring” faithful’s in the church. They are so verse in the things of GOD and claim to din regularly with Him. If an elect of GOD is not careful, they can easily reassign another ministry to him or her totally different from the one originally apportioned by GOD. Church pharisees act contrary when out of reach.

    I will conclude for now by saying that church pharisees are extremely, deeply and dangerously religious to the core.

    emy1010

     

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    Yasirmurtala
    KADUNA STATE UNIVERSITY POST-UTME SCREENING EXERCISE FOR 2020/2021 ACADEMIC SESSION UPDATE
    ~2.1 mins read
    UPDATE ON KASU POST-UTME SCREENING EXERCISE FOR 2020/2021 ACADEMIC SESSION
     
    Kaduna State University wishes to invite candidates who applied for admission into the University through UTME and DE to register for online screening exercise through the University PUTME Screening Portal. 
     
    Based on the recent JAMB directives, registration for the Post-UTME Screening will now commence on Monday, 7th Septemter, 2020 and end on Friday 16th October, 2020.
     
    REQUIREMENTS
     
    a. Prospective candidates must have a minimum of Five (5) relevant passes at Credit level in the Senior Secondary School Certificate Examination (SSCE) conducted by recognized Examination Bodies in not more than Two (2) sittings, including a pass at credit level in English and Mathematics.
     
    b. Prospective candidates must have sat for the UTME Examinations, chose KASU as first choice, and must have scored an aggregate of (See table below) or higher in the relevant subjects. 
     
     
    SN FACULTY CUT-OFF POINTS
    1 Allied Health Sciences: 200
    2 Arts: 170
    3 Agriculture: 170
    4 Education: 170
    5 Environmental Sciences: 170
    6 Management Sciences: 180
    7 Science: 180 for Biochemistry, Computer Science and Microbiology, and 170 for other programmes
    8 Social Sciences: 180
    9 Medicine: 200
    10 Pharmaceutical Sciences: 200
     
    c. Eligible candidates must upload their O’ Level Results on KASU website before consideration for admission.
     
    d. Direct Entry (DE) candidates shall in addition to the minimum Five (5) O’ level relevant credits (including English and Mathematics) in relevant programmes applied, shall also obtain the minimum ‘A’ Level points for the programme.
    REGISTRATION GUIDELINES
     
    Eligible candidates are to pay the sum of N2, 000.00 (all charges inclusive) for the screening and aptitude test through the payment options provided on the University’s website.
     
    1. Visit https://forms.kasu.edu.ng from your computer OR any Mobile Device OR simply use KASU Android Application (available on Google Play store).
     
    2. Click on the Login Button (Green Button).
     
    i. Username is your JAMB Number (For Example 12345678BG).
    ii. Password is your JAMB Number excluding the First and Last Character (For Example 2345678B).
     
    3. Click on the link "Proceed with Payment" to generate your payment details.
     
    i. Click "Pay via Interswitch" i.e. green at the top of the page.
    ii. Proceed with payment.
     
    4. After successful payment, Logout of your account & wait for 10 minutes, then log in and continue your registration.
     
    For any enquiry or complain, please send a mail to: [email protected] and [email protected]
     
    Click Here to Register Now or Visit https://forms.kasu.edu.ng
     
     
    Signed
    Samuel S. Manshop
    REGISTRAR
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