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14 — Vanguard, MONDAY, FEBRUARY 24, 2020<br />

:Vanguard News :@vanguardnews :@vanguardnews NEWS HOTLINES: 08052867023, 08052867058<br />

COURTESY VISIT: From left: Speaker, Kwara State House of Assembly, Hon. Yakubu Salihu<br />

Danladi; Etsu Patigi and Vice Chairman, Kwara State Council of Chiefs, Alhaji Ibrahim<br />

Umar Bologi II; Kwara State Governor, AbdulRahman AbdulRazaq; Etsu Tsaragi, Alhaji<br />

Abdullahi Ndakotwa; and Secretary to the State Government, Prof. Mamman Saba Jibril;<br />

during a courtesy visit to the governor at Government House, Ilorin.<br />

NDIC liquidates 425 banks, others<br />

By Emma Ujah,<br />

Abuja Bureau<br />

Chief<br />

ABUJA––THE Nigeria<br />

Deposit Insurance<br />

Corporation, NDIC, weekend<br />

said as at December<br />

2019, it had liquidated 425<br />

financial institutions.<br />

The Liquidation took<br />

place between 1989 and<br />

2019.<br />

An Assistant Director, AD<br />

in the Insurance and Surveillance<br />

Department of the<br />

NDIC, Mr. John Abiodun,<br />

stated this at the Quarterly<br />

Forum of the Finance Correspondents<br />

Association of<br />

Nigeria (FICAN), in Abuja.<br />

According to him, the liquidated<br />

institutions comprised<br />

51 Deposit Money<br />

Banks, DMBs, 325 Micro<br />

Finance Banks, MFBs, and<br />

51 Primary Mortgage<br />

NAMA commissions Cat 3 ILS in<br />

Lagos, Abuja Airpor<br />

ports<br />

By Lawani<br />

Mikairu<br />

LAGOS––THE Nigeri<br />

an Airspace Management<br />

Agency, NAMA, yesterday<br />

successfully commissioned<br />

its newly installed<br />

Category 3 Instrument<br />

Landing System, ILS,<br />

at Runway 18 Right of the<br />

Murtala Mohammed International<br />

Airport, Lagos.<br />

Similarly, the agency also<br />

commissioned those installed<br />

at Runway 22 at the<br />

Nnamdi Azikiwe International<br />

Airport, Abuja.<br />

Making this disclosure in<br />

a statement, the Managing<br />

Director of NAMA, Fola<br />

Akinkuotu also stated that<br />

“a flight commissioning of<br />

the newly installed DVOR<br />

(Doppler Very High Frequency<br />

Omni-Directional<br />

Radio Range) in Lagos had<br />

successfully been carried<br />

out just as routine flight calibration<br />

had also been carried<br />

out on Runway 18 Left<br />

in Lagos”.<br />

Akinkuotu said a NOT-<br />

AM (Notice to Airmen) to<br />

this effect had been disseminated<br />

accordingly while<br />

calibration of navigational<br />

aids in other locations<br />

across the country was in<br />

progress to ensure all navigational<br />

aids in Nigeria<br />

that were due for calibration<br />

are covered.<br />

According to the NAMA<br />

boss, “in spite of initial<br />

hitches, it is gratifying to<br />

note that Runway 18R in<br />

Lagos has been certified for<br />

CAT 3 just as Runway 22<br />

in Abuja with the newly acquired<br />

calibration aircraft<br />

by the Aviation Ministry.<br />

Both facilities are now fully<br />

operational.”<br />

Banks, PMBs.<br />

The AD spoke on,<br />

“Speedy Bank Failure Resolution<br />

Strategies: Challenges<br />

and Prospects.”<br />

He said, “Through efficient<br />

and diligent liquidation<br />

activities, the Corporation<br />

has successfully paid<br />

in full the deposits of the<br />

Customers of 18 DMBs,<br />

(Both insured and uninsured)<br />

while payment to<br />

Depositors of Fortune International<br />

Bank, Triumph<br />

Bank and Peak Merchant<br />

Bank was put on hold as at<br />

end of 2019 due to litigation<br />

challenging the revocation<br />

of their operating licence.”<br />

Mr. Abiodun lamented<br />

however, that in spite of the<br />

efforts of the corporation,<br />

bank failure resolution was<br />

faced with a myriad of challenges<br />

that needed to be urgently<br />

addressed.<br />

“The effectiveness of the<br />

NDIC’s efforts in failure<br />

resolution had been impaired<br />

by a number of constraints<br />

and challenges<br />

which included: delays in<br />

revocation of the licenses of<br />

terminally distressed<br />

banks; depositor and creditor<br />

apathy and ignorance<br />

(delay in filing claims); recovery<br />

of debts owed the<br />

failed banks; “legal actions<br />

of owners of closed banks;<br />

protracted litigations; disposal<br />

of low quality physical<br />

assets of the closed<br />

banks and provision of<br />

timely liquidity support,”<br />

he said.<br />

In addition, the AD said<br />

the delay in the proposed<br />

amendments to the NDIC<br />

Act; poor Corporate Governance;<br />

poor record keeping<br />

by banks; poor lending cul-<br />

While pledging a timely<br />

calibration of navigational<br />

facilities at all federal airports<br />

henceforth, he said<br />

the availability of the new<br />

flight calibration aircraft the<br />

federal government just<br />

acquired would ensure that<br />

NAMA was able to carry<br />

out calibration as and when<br />

due.<br />

It would be recalled that<br />

for over two weeks , foreign<br />

airlines were diverting their<br />

Lagos bound flights to<br />

Kotoka International Airport,<br />

Accra, Ghana which<br />

resulted in more than 1,500<br />

Nigerians being stranded<br />

in Ghana.<br />

British Airways, Delta Air<br />

and other foreign airlines<br />

said they diverted flights to<br />

Ghana due to the inclement<br />

weather in Lagos and<br />

poor visibility at the Muritala<br />

Muhammed International<br />

Airport, Lagos.<br />

ture; uncooperative attitude<br />

with the bank closing Team;<br />

slump in property market<br />

and court sympathy for<br />

debtors, were inhibiting the<br />

activities of the corporation.<br />

Mr. Abiodun identified<br />

Insider abuse as a major<br />

cause of bank failures in the<br />

country.<br />

Army vowed to destroy<br />

Delta community,<br />

Muoboghare insists<br />

By Festus Ahon &<br />

Perez Brisibe<br />

DELTA––DELTA State<br />

Commissioner for<br />

Higher Education and indigene<br />

of Uwheru kingdom,<br />

Prof. Patrick<br />

Muoboghare, yesterday<br />

insisted that soldiers from<br />

the 222 Battalion, Agbarha-<br />

Otor vowed to destroy<br />

Agadama community if the<br />

community failed to produce<br />

the corpses of those<br />

reportedly killed by armed<br />

herdsmen.<br />

Muoboghare while responding<br />

to the denial by<br />

the army authorities that its<br />

personnel did not at anytime<br />

make such threats,<br />

said if the matter was not<br />

blown to high heaven, the<br />

army would have carried<br />

out its threat.<br />

Speaking to Vanguard,<br />

he said: “On Saturday<br />

when the place was chaotic,<br />

after the soldiers from<br />

Bomadi retreated to go and<br />

reinforce, the other Agbara-<br />

Otor military team came and<br />

they said there was no reason<br />

for the protest by the<br />

youths and that nobody<br />

died. They insisted that unless<br />

they see the dead bodies,<br />

they were going to<br />

bring down the community<br />

and that is the truth and<br />

they appealed to me to talk<br />

to the community youths<br />

to go for the dead bodies if<br />

any.<br />

“The soldiers now took the<br />

youths into the forest where<br />

they met the Fulani herdsmen,<br />

and they (soldiers) told<br />

the herdsmen saying, ‘give<br />

us the dead bodies and the<br />

herdsmen said no they will<br />

not release them’ and at that<br />

point, they dared the soldiers<br />

and the soldiers beat<br />

a hasty retreat.<br />

“The following day was<br />

when they went back and<br />

saw some corpses including<br />

the ones burnt beyond recognition<br />

by the herdsmen.<br />

Also, categorically speaking,<br />

the Police Commissioner<br />

was angry that the DPO<br />

Ughelli accepted that those<br />

bodies be brought. So they<br />

did not want any evidence<br />

with the herdsmen and then<br />

on Monday, they went and<br />

saw the six corpses and at<br />

that point, they could not<br />

deny any more. When the<br />

police said we should bring<br />

money for autopsy, I told the<br />

community members not to<br />

drop one kobo for autopsy<br />

but the Governor brought

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