KEBBI GOVT DONATES 10 HILUX VEHICLES TO BOOST SECURITY ON SOKOTO–BADAGRY SUPER HIGHWAY. (PHOTOS).

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 Kebbi Govt Donates 10 Hilux Vehicles to Boost Security on Sokoto–Badagry Super Highway  The Kebbi State Government has handed over 10 brand-new Hilux vehicles to the Federal Ministry of Works to strengthen security for personnel working on the Sokoto–Badagry Super Highway project. The vehicles were formally received by the Minister of State for Works, Bello Muhammad Goronyo, who praised Kebbi State Governor, Dr. Nasiru Idris (Kauran Gwandu), for the donation. Goronyo described the gesture as a clear demonstration of the state government’s commitment to protecting workers and contractors on the strategic highway corridor. He explained that the vehicles will be deployed exclusively to security operatives providing cover for construction teams along the section of the super highway passing through Kebbi State. The Sokoto–Badagry Super Highway is a multi-state infrastructure project aimed at improving connectivity and economic activities across northern and southern Nigeria. More...
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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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