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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