General News
Ogunleye, NDIC Boss Commends DIS in Banking
Nigeria Deposit Insurance Corporation (NDIC), has said that functional Deposit Insurance Scheme (DIS) as a essential instrument of generating depositors’ confidence in the banking system as well as maintaining financial stability in any nation’s economy.
Mr. Ganiyu Ogunleye, managing director/chief executive of NDIC said that in design of DIS, the scheme should be made to not only protect the net worth individuals and even the small and unsophisticated depositors who would be most affected in event bank failure.
Ogunleye spoke at the opening of workshop on "DIS coverage and public awareness" organized by the African Regional Committee (ARC) of the International Association of Deposit Insurance (IADI) in Abuja.
The managing director, who is also the chairman of the ARC, emphasized that one of the important aspects in the design of (DIS) is the determination of the coverage scope and level so that every depositor would have a sense of security.
Ogunleye said that "the determination of both the scope and level of DIS coverage is crucial because they determine the potential liabilities under the scheme and also influence the extent to who which depositors’ confidence in the banking system can be promoted and sustained by the scheme.
"I wish to note that the public policy objectives of the DIS are typically to protect small and unsophisticated depositors and to maintain financial stability. The appropriate coverage level and scope should be set to have the least possible negative impact on the normal operation of the financial system; they should be credible and internally consistent with other design features of the DIS".
Ogunleye noted that even when the scheme was perfectly designed; it would not be effective to achieve its objectives if the stakeholders were unaware of its existence or unclear about the terms and conditions of coverage.
He canvassed for a sustained effective public awareness programme to change wrong perceptions and behaviours and further enhance public confidence in the deposit insurance system and safety and soundness of the financial system.
The IADI was established in May 2002 with its registered office at the Bank of International Settlement in Basle, Switzerland. The association commenced with 23 members and has grown up to 73 members with mission "to contribute to the enhancement of deposit insurance effectiveness by promoting guidance and international cooperation".
General News
FG Asks MDAs to Halt New Policies Until Full Compliance with RIA

Federal government has directed all Ministries, Departments and Agencies (MDAs) to suspend the introduction and rollout of new policies, regulations, or major regulatory changes until full compliance with the Regulatory Impact Analysis (RIA) Framework is achieved.

The directive, issued by Princess Zahrah Mustapha Audu, director general of the Presidential Enabling Business Environment Council (PEBEC), is part of efforts to strengthen regulatory quality, ensure policy coherence, and improve the ease of doing business in Nigeria
According to the statement, the RIA Framework, which was formally implemented in January 2025, requires that all new policies or amendments introduced after the date must undergo review and approval in line with its provisions.
She noted the framework has already been circulated to MDAs by the Office of the Secretary to the Government of the Federation and is also accessible on the PEBEC website.
MDAs are therefore expected to familiarise themselves with the framework and align their policy development processes accordingly.
Audu emphasised that while the government remains committed to working collaboratively with regulatory institutions, no new reform or policy would be allowed to proceed without being backed by clear and verifiable evidence.
She explained the directive aims to prevent policy shocks that could negatively affect businesses, investors and citizens, eliminate inconsistencies and frequent policy reversals, and institutionalise evidence-based policymaking across government.
The directive also seeks to enhance transparency, improve predictability, and boost stakeholder confidence in public policies, while ensuring adequate engagement to minimise resistance prior to implementation.
Consequently, all MDAs have been instructed to suspend any planned policy rollouts that have not yet been implemented, ensure that new policy proposals are supported by comprehensive RIA and necessary approvals, and integrate the RIA process into their internal policy formulation procedures.
They are also required to undertake structured and inclusive stakeholder engagement as part of policy development to improve acceptance and implementation outcomes.
The PEBEC boss added that MDAs can access the RIA Framework through its website or seek technical support from the council’s secretariat.
She, however, noted that exceptions would only be granted in cases of urgent national interest, subject to appropriate approval.
Audu stressed that cooperation from all MDAs is crucial to building a stable, consistent and business-friendly regulatory environment capable of driving sustainable economic growth and boosting investor confidence.
General News
FG Unveils Digital Platform to Showcase Nigeria’s Culture, Tourism Destinations

The Federal Government has unveiled a new digital platform, NITOUREY, aimed at showcasing Nigeria’s rich cultural heritage and tourism destinations to global audiences.

The initiative, introduced at a press conference organised by the Nigerian Tourism Development Authority, was described as a public-private partnership designed to project Nigeria’s diverse cultural assets.
Speaking at the event on Tuesday, the Minister of Arts, Culture, Tourism and the Creative Economy, Hannatu Musawa, said the platform marked another step in repositioning Nigeria as a leading global destination for tourism, culture and creative excellence.
She explained that the digital project would harness the power of the creative economy and technology to amplify Nigeria’s cultural narratives while creating opportunities for young Nigerians, filmmakers, content creators and tourism operators.
Musawa said, “Today marks yet another significant step in our collective journey to reposition Nigeria as a leading global destination for tourism, culture and creative excellence.
“The initiative aligned with the administration’s economic diversification drive, noting that tourism had the potential to contribute significantly to national growth.
“President Bola Tinubu has a vision to use tourism as part of economic diversification and expansion, and NTDA can play a vital role in achieving that goal”.
She emphasised that NITOUREY would not only showcase destinations across the country but also create economic opportunities within the creative industry.
“Through this initiative, we are not only showcasing destinations across Nigeria but also creating opportunities for the creative industries, including filmmakers, content creators, tourism operators and young Nigerians within the creative economy,” she added.
The minister also stressed the importance of collaboration between government agencies, state governments and the private sector, noting that the platform was a PPP initiative designed to unlock the full potential of Nigeria’s tourism and creative sectors.
“This is a commendable PPP initiative that demonstrates the collaboration required to unlock the full potential of Nigeria’s tourism and creative industry,” she said.
She further assured stakeholders that the Ministry of Art, Culture, Tourism and the Creative Economy would continue to support initiatives that enhance Nigeria’s visibility, attract investment and create jobs.
In his remarks, the Director General of NTDA, Ola Awakan, described NITOUREY as a transformative platform that will redefine how Nigeria is presented to the world.
He emphasised that tourism thrives on perception, visibility, and storytelling, noting that the platform will collaborate with key institutions, including the Nigerian Film Corporation, National Film and Video Censors Board, and the National Information Technology Development Agency, to deliver high-quality content.
Awakan added that the initiative is powered by a strong public-private partnership involving TOURCLIQ Creatives Limited and JM MiSA International Limited, underscoring the importance of collaboration in unlocking the full potential of Nigeria’s tourism and creative industries.
He further revealed that NITOUREY will spotlight iconic destinations across Nigeria’s six geopolitical zones, including Zuma Rock, Yankari Resort and Safari, the Argungu Fishing Festival, Ngwo Pine Forest and Cave, Obudu Mountain Resort, and Olumo Rock, projecting them to a global audience.
The platform is expected to serve as Nigeria’s premier tourism streaming platform, projecting the country’s culture, creativity and destinations to both domestic and international audiences.
General News
Telecoms subscribers’ compensation for poor service starts this month – NCC

Nigerian Communications Commission has announced that its directive requiring telecom operators to compensate subscribers for poor service quality will take effect from this month.

NCC
In an FAQ released on Tuesday, April 7, the Commission clarified that the directive applies specifically to Mobile Network Operators (MNOs) that fail to meet their Quality of Service (QoS) Key Performance Indicators (KPIs).
These include major operators such as MTN, Airtel, Globacom, and 9mobile, although the NCC did not specify which of them fell short of the required standards.
The Commission explained that the compensation framework covers service failures affecting voice calls, data services, and SMS. It also applies to both individual and corporate subscribers.
According to the NCC, subscribers will qualify for compensation if they experienced poor network service in an affected Local Government Area and carried out at least one revenue-generating activity, such as a billed call, SMS, or data session, during the relevant period.
The regulator emphasised that subscribers do not need to apply for compensation, as operators are mandated to automatically identify affected users and provide compensation directly. It added that only service failures falling below defined thresholds under the QoS Regulations will qualify, while brief or quickly resolved disruptions may not be eligible.
The NCC also noted that a separate compensation framework already exists for Internet Service Providers (ISPs). The directive was earlier announced in a statement by the Commission’s Head of Public Affairs, Nnenna Ukoha, as part of efforts to prioritise consumer protection within Nigeria’s telecommunications sector.
The Commission highlighted the critical role of telecom services in economic activity, communication, and access to digital opportunities, noting that poor service quality can negatively impact productivity, business operations, and public confidence.
It added that the compensation policy complements existing regulatory measures aimed at monitoring service delivery and enforcing performance standards across the industry.
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