6TH OSOM GAMES TODAY DECLARED OPEN BY THE NSC CHAIRMAN.(PHOTOS ).#PRESS RELEASE

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 PRESS RELEASE  6TH OSOM GAMES TODAY DECLARED OPEN BY THE NSC CHAIRMAN.  The National Sports Commission (NSC) is making headlines once again with its commitment to promoting Nigerian athletes through regular internal competitions. Today, Mallam Shehu Dikko, Chairman of the National Sports Commission (NSC), declared the 6th OSOM Games open in a colourful ceremony at the Moshood Abiola International Stadium in Abuja. This statement reinforces the Commission's dedication to their Renewed Hope Initiative for Nigerian Sports Economy (RHINSE) mandate and their goal of turning sports from a field of consumption to one of production. The OSOM Games, which stands for One Service One Medal, is an inter-security agency competition that aims to foster unity and camaraderie among the various security agencies in Nigeria. It also serves as a platform for discovering new talents and keeping athletes actively engaged.  Dikko recognizes the significant role that the security agencies...
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CBN REVOKES LICENCE OF HERITAGE BANK. (PHOTO).

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 CBN revokes licence of Heritage Bank


The Central Bank of Nigeria, CBN, has revoked the operating licence of Heritage Bank.


The Acting Director, Corporate Communications, CBN, Hakama Sidi Ali, disclosed this in a statement.

She said: “The Central Bank of Nigeria, CBN, in accordance with its mandate to promote a sound financial system in Nigeria and in exercise of its powers under Section 12 of the Banks and Other Financial Act (BOFIA) 2020, hereby revokes the licence of Heritage Bank Plc with immediate effect.


‘This action has become necessary due to the bank’s breach of Section 12 (1) of BOFIA, 2020.


“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 license the next necessary step.


“Consequently, 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.


“The Nigeria Deposit Insurance Corporation (NDIC) is hereby appointed as the Liquidator of the bank in accordance with Section 12 (2) of BOFIA, 2020.


“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.”

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