The Peoples Democratic Party (PDP) has advised President Muhammadu Buhari to immediately forward to the National Assembly an amendment bill to the new Petroleum Industry Act.
The party gave the advice in a statement by its National Publicity Secretary, Mr Kola Ologbondiyan, on Monday in Abuja in reaction to the signing of the Petroleum Industry Bill (PIB) into law by Buhari.
Ologbondiyan advised the president to send amendment bill to the national assembly to reflect the true wishes and aspirations of every segment of the Nigerian society.
He expressed surprise that Buhari ignored the huge outcry by majority of disenchanted
Nigerians and signed the bill as passed by the National Assembly into law.
He noted that that the signing of the law in spite widespread public rejection amounted to “endorsement of imposition, lack of respect for the people and the tenets of democracy as a system of government’’.
Ologbondiyan added that signing the bill into law was not in the interest of oil producing communities, particularly in the face of the challenges they faced as a result of oil exploration.
“Mr President could have returned the bill to the National Assembly with a request that it is made to address the demands of the oil producing communities.
“Our party fears that the new law cannot guarantee the desired stability and development in the oil and gas sector as well as respite in the Niger Delta region.
“The PDP calls on President Buhari to salvage the situation by immediately forwarding an amendment bill to the National Assembly to reflect the true wishes and aspirations of every segment of our nation,” he said.
Ologbondiyan, however, called for calm across the country, particularly the South-South geo-political zone.
He also urged lawmakers elected on PDP platform to be at alert even as preparation must be in full swing for an urgent amendment to the law. (NAN)
NDIC commences payment of N16.18bn to liquidated banks’ depositors
Following impressive recoveries from debtors and realisation of assets of banks in liquidation, the Nigeria Deposit Insurance Corporation (NDIC) has declared N16.18 billion liquidation dividends to depositors, creditors and shareholders of 20 banks in-liquidation.
A statement by the Director, Communication & Public Affairs, NDIC, Bashir Nuhu, disclosed that the Corporation has commenced verification and payment of stakeholders covered by the declarations within 30 days, starting from 28th September 2023.
The ongoing payment is sequel to an earlier payment of various sums which cumulatively amounted to N45.45bn as liquidation dividends in respect of the 20 banks by July 2023, Nuhu said.
Relevant stakeholders have been requested to visit any of the NDIC offices closer to them or go to the claims page on the corporation’s website, www.ndic.gov.ng to download, complete and submit the verification form with prescribed supporting documents to a dedicated email.
The closed banks covered by the exercise are Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, Progress Bank, Merchant Bank of Africa (MBA), Premier Commercial Bank, North South Bank and Prime Merchant Bank.
Others are Commercial Trust Bank, Cooperative and Commerce Bank, Rims Merchant Bank, Pan African Bank, Fortune Bank, All States Trust Bank, Nigeria Merchant Bank and Amicable Bank in-liquidation.
Liquidation dividends represent amounts in excess of the insured sums paid by the NDIC to depositors of a closed bank from recoveries made from realisation of assets of failed financial institutions. They also cover the amount paid to creditors and shareholders of closed banks after full payment to depositors of such defunct banks.
Senate Confirms Appointment Of Cardoso, Others As CBN Governor And Deputies
The Nigerian Senate has confirmed the appointment of Yemi Cardoso as the Central Bank of Nigeria (CBN) Governor and four others as Deputy Governors of the apex bank.
They were confirmed on Tuesday following a screening by the upper legislative body.
The deputy governors who were confirmed are Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor, and Bala Bello.
“The nomination of Olayemi Cardoso is hereby confirmed as governor of the Central Bank of Nigeria (CBN),” Senate President Godswill Akpabio said.
Before their confirmation, the nominees had answered questions on matters related to economic and other policies.
During the screening, Cardoso promised to embrace compliance, assuring that under his leadership, the apex bank would remain apolitical.
“I believe that the Central Bank under our watch will have no choice but to embrace a culture of compliance,” he said.
“We will not wait for oversight to come and tell us what to do. We will ensure that by the time the system is passing through us, we catch it and we deal with it,” said Cardoso who promised zero tolerance for abuse of compliance.
“That is a cultural shift, a change in mindset, but we will make sure it happens,” the former Citibank Nigeria chairman assured.
Cardoso’s confirmation comes weeks after President Bola Tinubu nominated him as the acting CBN governor and four others as deputies.
He assumed office last week, replacing the then-acting governor of the CBN Folashodun Shonubi.
The recent appointments followed the suspension and resignation of Godwin Emefiele as the apex bank boss. The Delta-born began his reign in 2014 but got backlash owing to the naira redesign policy.
Emefiele, who was later arrested by the Department of State Services (DSS) but released on bail, is being tried on an alleged N6.9b fraud.
Senate Screens CBN Governor, Deputies Today – Bamidele
The Senate will on Tuesday screen former Chairman of the Board of Citi Bank Nigeria, Dr. Olayemi Michael Cardoso for the position of the Governor of the Central Bank of Nigeria (CBN).
The senate will also screen four nominees for the positions of CBN Deputy Governors, who will join forces with Cardoso to steer affairs of the apex bank in the next five years.
In a statement by the Media Office of the Senate Leader, Senator Michael Opeyemi Bamidele, the senate will screen all the nominees following its resumption from its annual recess.
The statement said: “The Senate of the Federal Republic of Nigeria will resume plenary on Tuesday, September 26. We will consider the screening of Dr. Cardoso at the Committee of the whole.
“Dr. Cardoso will be screened alongside four deputy governors namely Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.
“Besides, the Senate has scheduled to screen the ministerial nominees – Dr. Jamila Bio Ibrahim and Mr. Ayodele Olawande, respectively designated as Minister of Youth and Minister of State for Youth on October 3.”
On September 15, President Tinubu approved the nomination of Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN).
He also approved the nomination of four deputy governors for a term of five years each at the first instance, pending their confirmation by the Senate of the Federal Republic of Nigeria.
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