NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS
Friday, September 26, 2014
Vol. 1 No. 220
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NDIC’s premium cut frees N53bn for banks lCorporation extends insurance cover to mobile banking Simeon Oguegbulem and Abdulwahab Isa
T
he Nigeria Deposit Insurance Corporation (NDIC) has extended
the downward review of banks’ insurance premium to 2015, translating to a cumulative cash of N53 billion, which will be available for banks to lend
to customers. The premium reduction, which came into effect in 2011, would be extended to 2015; and is one of several mechanisms
adopted by the corporation for resolving banks failure through the establishment of financial stability fund. With the extension, banks are to save N53 bil-
lion over a four-year period, an amount that will ease their liquidity and boost funds for loaning to customers. CONTINUED ON PAGE 4
Ibrahim
Gov poll: Ekiti courts shut
lCJ orders indefinite closure lThugs attack another judge }3
Quick Read Editorial Cancel the new polling units now!
}19
Uproar as Senate okays Jonathan's $1bn loan request }3 South Africans to sue TB Joshua over church tragedy }5
L-R: Former Head of State, Major General Muhammadu Buhari; widow of Pastor Dimgba Igwe, Oby; daughter, Victory; son, Chinazam and former Managing Director/Editorin-Chief, The SUN Newspapers, Mr. Mike Awoyinfa, during Buhari condolence visit to the family in Lagos…yesterday. PHOTO: GODWIN IREKHE
30 die in B'Haram leadership crisis
lSect wipes out pastor, 19 others in Borno Ibrahim Abdul, Emmanuel Onani and Ahmed Miringa
B
oko Haram, which has suffered a series of losses following sustained attacks by the
military, has been hit by a leadership crisis that has degenerated into a gunfight among its members in Adamawa State. No fewer than 30 members of the terrorist group
were killed in Madagali, Madagali Local Government Area of the state following a disagreement on who should be the new Amir (leader) after the killing of the former leader of the insurgents by troops
in Bazza about a fortnight ago. Trapped residents of Madagali town yesterday told reporters in Yola on the phone that the gunfight broke out when the CONTINUED ON PAGE 5
LAGOS
Storms
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