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BREAKING: CBN Revokes Heritage Bank Licence

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The Central Bank of Nigeria (CBN) has revoked the licence of Heritage Bank Plc with immediate effect.

Hakama Sidi Ali, Acting Director, Corporate Communication at the apex bank, announced this in a statement on Monday.

Ali said the action became necessary due to the bank’s breach of Section 12 (1) of BOFIA, 2020.

She said: “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.

“This follows a period during which the CBN engaged with the bank and prescribed various supervisory steps intended to stem the decline. Regrettably, the bank has continued to suffer and has no reasonable prospects of recovery, thereby making the revocation of the licence the next necessary step.”

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Mrs Halima said the CBN has taken this action to strengthen public confidence in the banking system and ensure that the soundness of our financial system is not impaired.

She said the Nigeria Deposit Insurance Corporation (NDIC) had been appointed as the Liquidator of the bank in accordance with Section 12 (2) of BOFIA, 2020.

She said: “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.”

CREDIT: Journalist101

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Nigerian Govt shuts Eko Bridge, ramps for 8-week repairs

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The Federal Government has announced the closure of the Eko Bridge and Ramps for eight weeks to carry out essential asphalt resurfacing work.

Mrs. Olukorede Kesha, the Federal Controller of Works in Lagos, shared this information in a statement on Saturday. She noted that the resurfacing project is set to begin on Friday, September 20, at 7:00 a.m., and will continue until November 20.

Due to the closure, drivers will need to follow detours and alternative routes. Kesha advised that motorists traveling to the Island from Funsho Williams Avenue should utilize the service lane at Alaka to connect to Costain and access the Eko Bridge.

She explained that some sections of the bridge will be fully closed while others will have partial access.

“This important project aims to enhance road safety and improve the driving experience for motorists,” she stated. The work will involve milling the existing asphalt and laying down new asphalt on both the bridge and ramps to address wear and tear and create a smoother, safer roadway.

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Gov Adeleke appoints new Governing Council Chairman for Osun College of Education

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Osun State Governor, Ademola Adeleke, has appointed Akinwale Sarafadeen Adeyemi as the new Chairman of the Governing Council for Osun State College of Education in Ila-Orangun.

The announcement was made in a statement on Friday by Governor Adeleke’s spokesperson, Olawale Rasheed. The statement described Adeyemi as an experienced educationist and noted that he will succeed Peter Babalola, the former chairman, who was dismissed by the state government earlier this month.

Babalola, who was also a member of the Peoples Democratic Party (PDP) in the state, faced suspension from his local ward in Irewole due to public criticism over alleged financial misconduct before his removal.

The statement highlighted, “Governor Ademola Adeleke has approved the appointment of Mr. Akinwale Sarafa Adeyemi, a seasoned educationist, as the new Chairman of the Governing Council of Osun State College of Education, Ila-Orangun. Mr. Adeyemi replaces Dr. Peter Babalola, who resigned following a controversial term at the college.”

Adeyemi holds both a bachelor’s and a master’s degree in Education from the University of Ibadan and is a retired principal of the Federal Girls College in Ipetumodu. His swearing-in ceremony is scheduled for 10 a.m. on Monday at the EXCO lounge.

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Edo Decides: Police arrest armed political thugs ahead of election

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The police have reported that their operatives apprehended political thugs and seized firearms during overnight operations in Edo State, where the governorship election is taking place today, Saturday.

They also vowed to address illegal weapons possession and prevent any disruptions to the electoral process in the state.

Prince Olumuyiwa Adejobi, the Force Public Relations Officer, shared this information in a statement on Friday night, along with images of the recovered firearms.

He identified the arrested individuals as Edwin Obanor, 43, and Audu Tajudeen, a 41-year-old PDP member from Ugbogbo quarters in Igara Akoko, Edo.

“The Nigeria Police Force has made a significant breakthrough in combating electoral violence in Edo State with the arrests of Edwin Obanor, 43, and Audu Tajudeen, a 41-year-old PDP member,” the statement noted.

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According to DAILY POST, residents of Edo State will be voting for a new governor today, September 21, 2024, who will succeed Governor Godwin Obaseki after his eight-year term ends.

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