Defunct Heritage Bank: NDIC Vows to Recover N700 Billion Loans, Advances, Inherited Bank's N650bn at Takeover
Declares 99.9% of 2.3 million insured depositors have balances less than N5 million, 4,000 depositors have N5 million and above Payment of insured deposits to commence within a week
James Emejo in Abuja Managing
Director/Chief
Executive of Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, has vowed
to employ all resources at its disposal to recover over N700 billion loans and advances owed
to the defunct Heritage Bank Plc, whose operating license was recently revoked by the Central
Bank of Nigeria (CBN). Hassan said NDIC had the responsibility to recover all
debts as well as pay eligible Continued on page 5
FG Directs N150,000 Govt Grant Be Given to Each MSME Owner... Page 8 Friday, June 7, 2024 Vol 29. No 10649. Price: N400
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Obi Disowns LP’s Creation of Obidient Dept, Says Movement Far Beyond Particular Political Party... Page 35
Edun Presents Cost Implication of Proposed Minimum Wage to President, Tripartite C’tee to Reach Agreement Today Deji Elumoye and Onyebuchi Ezigbo in Abuja Minister of Finance and Coordinating Minister of the
Economy, Mr Wale Edun yesterday submitted to President Bola Ahmed Tinubu cost implication of a new minimum wage. This is expected to help guide negotiation with
the tripartite panel comprising government officials, labour and the Organised Private Sector (OPS). President had on Tuesday given the Finance Minister 48 hours to
submit to him the cost implication of the proposed wage review to enable government take informed decision on the contentious wage issue.
Edun submitted the document Idris, had announced to newsmen to the president in his office at the after a closed-door meeting of the government negotiation team led State House, Abuja. The Minister of Information and Continued on page 5 National Orientation, Mohammed
Bagudu: Despite Economic Growth, 40% of Nigerians Still Live Below Poverty Line Restates commitment to inclusive growth
Story on page 5
PARTNERSHIP FOR PRIVATE-SECTOR GROWTH IN NIGERIA... IFC DELEGATION AT THE VILLA... Managing Director, International Finance Corporation (IFC), Mr. Makthar Diop (left) and Governor, Central Bank of Nigeria (CBN), Mr.Olayemi Cardoso, after a strategic meeting to support private sector growth in Nigeria, held at the CBN head office in Abuja…yesterday
Managing Director, International Finance Corporation. Makhtar Diop with President Bola Ahmed Tinubu during meeting with a delegation of the International Finance Corporation (IFC), group member of World GODWIN OMOIGUI Bank at the Presidential Villa, Abuja... yesterday