Breaking News
Just In: CBN Revokes Heritage Bank Operating License
“We wish to assure the public that the Nigerian financial system remains on a solid footing. The action we are taking today reflects our continued commitment to take all necessary steps to ensure the safety and soundness of our financial system,”
The Central Bank of Nigeria (CBN), has revoked the banking licence of Heritage Bank Plc with immediate effect.
This decision, it said, was to maintain a stable and healthy financial system as authorised under Section 12 of the Banks and Other Financial Institutions Act (BOFIA) 2020.
A statement by the Ag. Director, Corporate Communications of the Appex bank, Hakama Ali, on Monday, said the move was under its mandate to promote a sound financial system in Nigeria, and in exercise of its powers under Section 12 of the Banks and Other Financial Act (BOFIA) 2020.
According to Ali, the bank had breached Section 12 (1) of BOFIA, 2020, adding that the Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability.
“The bank’s Board and Management failed to improve its financial performance, posing a risk to the financial stability of the country. Despite various supervisory measures taken by the CBN to help the bank recover, Heritage Bank continued to struggle without any reasonable prospects of recovery,” the apex bank stated.
To ensure public confidence and integrity of the financial system, the CBN appointed the Nigeria Deposit Insurance Corporation (NDIC) as the Liquidator of Heritage Bank as stipulated in Section 12 (2) of BOFIA 2020.
“We wish to assure the public that the Nigerian financial system remains on a solid footing. The action we are taking today reflects our continued commitment to take all necessary steps to ensure the safety and soundness of our financial system,” the statement added.
The CBN reassured the public that Nigeria’s financial system remains robust and secure.
Details Shortly…
Breaking News
NAF Appoints Air Commodore Akinboyewa As New Spokesman
The Chief of Air Staff (CAS), Air Marshal Hassan Abubakar, has approved the appointment of Air Commodore Olusola Akinboyewa as the new Director of Public Relations and Information (DOPRI) and spokesman of the Nigerian Air Force (NAF).
According to a statement by Deputy Director Public Relations and Information, Group Captain Kabiru, on Tuesday, October 8, Air Commodore Akinboyewa would take over from Air Vice Marshal Edward Gabkwet, who has been redeployed to NAF’s Civil-Military Relations Branch, as Director of Coordination and Cooperation.
The statement said: “This strategic realignment is part of the NAF’s ongoing efforts to strengthen its public and community engagement functions, while also ensuring a more robust and effective interface with the general public and stakeholders.
“As the new Spokesperson, Air Commodore Akinboyewa is expected to continue in the footsteps of his predecessor by overseeing NAF’s media engagements, strategic communications, and information dissemination, while building perception, maintaining transparency and further enhancing public trust and confidence.”
Air Commodore Akinboyewa is a member of the 43rd Regular Combatant Course of the Nigerian Defence Academy (NDA), and holds a Bachelor of Science degree in Mathematics from the NDA, and a Masters Degree in Security and Strategic Studies from the same institution.
Until his appointment he was the Commandant of NAF’s Air Traffic Services Training Centre, Kaduna.
Breaking News
IGP Orders Immediate Withdrawal Of Personnel From Rivers LGAs
The Inspector General of Police, Kayode Egbetokun, has ordered the immediate withdrawal of police personnel previously deployed to seal off the 23 local government areas of Rivers State.
This directive was announced on Monday in a statement by Grace Iringe-Koko, the Public Relations Officer of the Rivers State Command.
According to the statement, the order follows recent political developments in Rivers State.
“The newly deployed State Commissioner of Police, Bala Mustapha, conveyed the directives of the Inspector General of Police, IGP Kayode Egbetokun, for the immediate withdrawal of all police personnel previously deployed to seal and safeguard the Local Government Secretariats in the state.”
The statement emphasized that the decision “is in line with the commitment of the Nigeria Police Force to ensure neutrality and the smooth functioning of democratic institutions.”
It further clarified that personnel will only be redeployed to those areas if there was a crisis or breakdown of law and order, at which point emergency measures would be swiftly implemented to restore normalcy.
The Rivers State Command assured the public of its continued commitment to maintaining peace and order across the state, while reiterating its professional conduct in carrying out its duties.
Residents and stakeholders were urged to remain calm and law-abiding as the situation unfolds.
Breaking News
Alleged N110.4bn Fraud: Court Issues Public Summons Against Yahaya Bello
A High Court of the Federal Capital Territory (FCT) in Maitama has issued a public summon against immediate past governor of Kogi State, Yahaya Bello.
The court ordered Bello to attend court and answer to a fresh 16-count charge pending against him.
By the summons, Bello is to attend court on October 24 for his arraignment alongside two other defendants.
Justice Maryanne Anenih issued the order for public summons in a ruling on Thursday, following an application by the Economic and Financial Crimes Commission, EFCC.
Justice Anenih ordered the EFCC to publish the public summons in a widely circulating newspaper
She also ordered the EFCC to paste copies of the public summons on Bello’s last known address and in conspicuous places in the court premises.
The EFCC had claimed that it has been unable to serve Bello with the charge filed on September 24, in which the ex-governor and two others were charged with criminal breach of trust to the tune of N110.4billion.
The other two defendants in the charge are Umar Oricha and Abdulsalami Hudu.
Bello’s absence stalled the arraignment earlier scheduled for Thursday.
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