• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

  • Fact-Check
  • Economy
    • Acting Controller General of Customs, Nigerian Customs Services, NSC, Ag. CG Bashir Adewale Adeniyi

      Adeniyi Inaugurates Lagos School Renovated by Nigeria Customs 

      Abdullahi Aliyu Maiwada

      Customs’ Maiwada Named Among Nigeria’s 50 Most Influential PR Voices

      Acting Controller General of Customs, Nigerian Customs Services, NSC, Ag. CG Bashir Adewale Adeniyi

      Customs Exposes Scam Over Form M Migration to B’Odogwu Platform

      CBN

      The Facts About Nigeria’s Debts Burden Under Tinubu’s Watch By Zekeri…

      Ibrahim Yahaya Dandakata of Arewa Economic Forum AEF

      AEF Slams CBN’s New BDC Policy, Cites Threat to Northern Economy…

  • National
    • Nnamdi Kanu of IPOB arrested by Nigerian security services

      Nnamdi Kanu’s Threat to Break Up Nigeria Was Deliberate, FG Insists

      NUJ election

      NUJ Urges Constitutional Backing for Journalists, Proposes Media Bailout Fund

      Tinubu Appoints IBB’s Son as Chairman, Bank of Agriculture, Names Heads…

      Bashir Adewale Adeniyi Customs Boss

      In Rivers, Customs Hands Over N20.5bn Worth of Fake Drugs to…

      Military Troops in Action

      COUNTER-TERRORISM OPERATIONS: Troops Arrest Terrorists Collaborators, Eliminate Scores, Seize Weapons, Rescue…

    • Government
      • IPRA GWA

        IPRA Calls on UN to Curb Misinformation from AI and Social…

        Nnamdi Kanu of IPOB arrested by Nigerian security services

        Nnamdi Kanu’s Threat to Break Up Nigeria Was Deliberate, FG Insists

        NUJ election

        NUJ Urges Constitutional Backing for Journalists, Proposes Media Bailout Fund

        Tinubu Appoints IBB’s Son as Chairman, Bank of Agriculture, Names Heads…

        Late President Muhammadu Buhari

        Critique of Renaming University of Maiduguri after Muhammadu Buhari By Dr…

  • Security
    • Nnamdi Kanu of IPOB arrested by Nigerian security services

      Nnamdi Kanu’s Threat to Break Up Nigeria Was Deliberate, FG Insists

      Nigerian Police Force

      Benue Police Nab Notorious Arms Traffickers, Recover Rocket Launcher, AK-47 Rifles,…

      Bashir Adewale Adeniyi Customs Boss

      In Rivers, Customs Hands Over N20.5bn Worth of Fake Drugs to…

      Military Troops in Action

      COUNTER-TERRORISM OPERATIONS: Troops Arrest Terrorists Collaborators, Eliminate Scores, Seize Weapons, Rescue…

      Lord Jonathan Marland, Chairman of the Commonwealth Enterprise and Investment Council (CWEIC), and Ministry of Defence Perm Sec Ambassador Gabriel Tanimu Aduda

      UK-Nigeria Pact to Drive Defence Innovation, Joint Ventures

  • Features
    • Late President Muhammadu Buhari

      Critique of Renaming University of Maiduguri after Muhammadu Buhari By Dr…

      Late President Muhammadu Buhari

      Buhari’s Shocker: I look Forward to Leaving, and when it’s …

      Buhari: The Soldier Who Couldn’t Conquer Democracy By Umar Farouk Bala

      Gen Lucky Irabor and Muhammadu Buhari

      Beyond the Public Gaze: Gen Irabor’s Intimate Farewell to Buhari

      Vice Admiral Awwal Z Gambo and Late President Muhammadu Buhari

      Tribute to the Late Former President Buhari, By Vice Admiral Awwal…

  • State
    • IPRA GWA

      IPRA Calls on UN to Curb Misinformation from AI and Social…

      Nigerian Police Force

      Benue Police Nab Notorious Arms Traffickers, Recover Rocket Launcher, AK-47 Rifles,…

      Bashir Adewale Adeniyi Customs Boss

      In Rivers, Customs Hands Over N20.5bn Worth of Fake Drugs to…

      Nigerian Navy

      Navy Hands Over Seized 1,575kg of Indian Hemp to NDLEA in…

      Nigerian Police Force

      Notorious Bandit Kingpin, Abubakar Magaji Arrested in Sokoto, Gun, Ammunition Recovered

  • Event
    • Dr Dr. Omoniyi Ibietan of NCC

      APRA Secretary General Omoniyi Ibietan Named ‘PR Change Maker’

      Prof Saudat Abdulbaqi

      Prof Saudat Abdulbaqi Makes History as First Female Dean of UniIlorin’s…

      Late Oba Sikiru Adetona and Late President Muhammadu Buhari

      Oba Sikiru Adetona: The Day Ijebu Lost Its Lion By Tahir…

      President & Chairman of Governing Council, Dr. Ike Neliaku

      On World PR Day, NIPR Charts Bold Path to National Renewal

      Late President Muhammadu Buhari

      Northwest Governors Mourn Buhari, Declare Tuesday Public Holiday

    • PR Nigeria Award
  • E-Paper
Home Economy EXCLUSIVE: Controversy Trails legality of NDIC Chairman Appointed by Buhari
  • Economy
  • National

EXCLUSIVE: Controversy Trails legality of NDIC Chairman Appointed by Buhari

By
Prnigeria
-
June 11, 2023

EXCLUSIVE: Controversy Trails legality of NDIC Chairman Appointed by Buhari

Fresh controversies seem to be surrounding the appointment of a new Board Chairman for the Nigeria Deposit Insurance Corporation (NDIC) in the dying days of the President Muhammadu Buhari administration.

PRNigeria discovers that in a single month (May 2023) several actions were taking including the confirmation of appointment, swearing in and and a new law that repealled such an appointment of a chairman from outside the public service.

The NDIC board chairman, Dr Abdul Hakeem Mobolaji, was appointed by President Buhari alongside six other board members on January 9, 2023 who sent their names to the Senate on the 22nd of March and their appointments were confirmed by the lawmakers on May 9.

Mobolaji was a former legislator and commissioner in Lagos State

The board members include Professor Osita Ogbu to represent South East, Umar Gambo Jibrin (North Central), Mohammed Attahiru Haruna (North East), Yasmine Zaabatt Amin Dalhatu (North West), Simon Ogie (South-South) and Abimbola Olashore (South West).

The Chairman and other Board members were therefore sworn-in by the then Minister of Finance, Budget and National Planning, Zainab Ahmed, on Thursday, May 25.

Surprisingly, the then President Buhari who was accused of taking a lot of controversial decisions in the last days of his reign had on May 26 signed into law the Nigeria Deposit Insurance Corporation Bill, 2023. It was an act of the National Assembly which repeals the NDIC Act No.16 of 2006 and enact NDIC Act of 2023.

The amendment bill was passed by the Senate on the 28th of March, 2023 and by the House of Representatives on the 2nd of May, 2023.

PRNigeria observes that the second schedule of the amendment law which was signed by President Buhari on May 26, 2023 and immediately gazetted, only the the Permanent Secretary in the Ministry of Finance can chair the governing board of the NDIC.

Read Also:

  • IPRA Calls on UN to Curb Misinformation from AI and Social Media
  • Nnamdi Kanu’s Threat to Break Up Nigeria Was Deliberate, FG Insists
  • ‎FACT-CHECK: Was Obi Ever Pictured Having Coffee with Gen Sani Abacha at the Presidential Villa?

The law provides as follows: “The governing body of the Corporation shall be a Board of Directors (in this Act referred to as “the Board”).(2) The Board shall consist of—(a) the Chairman who shall be the Permanent Secretary of the Federal Ministry responsible for finance; (b) the Managing Director; (c) two Executive Directors; (d) one representative of the Central Bank of Nigeria who shall be the Director of Banking Supervision; and (e) the Director-General of the Securities and Exchange Commission.”

Barely two weeks after the exit of President Buhari, some stakeholders are calling on President Bola Ahmed Tinubu to undo the appointment, saying it is illegal.

The agitators are saying that President Buhari himself signed an amendment to the NDIC establishment law which repealled and rendered the appointment unlawful.

One of the stakeholders in the financial sector of the public service who doesn’t want his name mentioned told PRNigeria that the NDIC has already commenced the implementation of the new Act.

He said “The NDIC Board of Directors which was inaugurated on the 25th of May, 2023 were nominated under the provisions of the NDIC Act, 2006; which was subsequently repealed and renacted as the new NDIC Act, 2023 on the 26th of May, 2023 by Mr. President. The new Act has clear guidelines and requirements for the composition and membership of the Board which is at variance with those contained in the old act. None of the independent members of the Board inaugurated on the 25th of May qualifies for membership under the new NDIC Act, 2023, which has already been gazetted.”

Lawyers are however arguing that it is fundamental in the profession for laws and rules not to have retroactive effect.

An Abuja based constitutional lawyer, Yunus AbdulSalam argued that since the bill was signed into law on May 26 and the appointments were approved by the Senate on May 9, the appointments are valid.

Abdulsalam said: “The newly amended Act can only operate in future as it cannot nullify or annul an appointment made under the law before the amendment of the NDIC ACT. This is in consonance with with section 6 (1) (c) of the Interpretation Act which provides that the repeal of an enactment shall not “affect any right, privilege, obligation or liability accrued or incurred under the enactment.”

By PRNigeria

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • mobolaji
  • NDIC
Previous articleNDLEA Uncovers Meth Lab in Lagos, Intercepts tramadol Pills in Women Hair
Next articleNOWA and Aisha Gambo’s Vision for Naval Officers’ Wives
Prnigeria
Prnigeria
https://prnigeria.com/

RELATED ARTICLESMORE FROM AUTHOR

Nnamdi Kanu of IPOB arrested by Nigerian security services

Nnamdi Kanu’s Threat to Break Up Nigeria Was Deliberate, FG Insists

‎FACT-CHECK: Was Obi Ever Pictured Having Coffee with Gen Sani Abacha at the Presidential Villa?

NUJ election

NUJ Urges Constitutional Backing for Journalists, Proposes Media Bailout Fund

Tinubu Appoints IBB’s Son as Chairman, Bank of Agriculture, Names Heads of Key Agencies

Bashir Adewale Adeniyi Customs Boss

In Rivers, Customs Hands Over N20.5bn Worth of Fake Drugs to NAFDAC

Military Troops in Action

COUNTER-TERRORISM OPERATIONS: Troops Arrest Terrorists Collaborators, Eliminate Scores, Seize Weapons, Rescue Captives Across N’East

Acting Controller General of Customs, Nigerian Customs Services, NSC, Ag. CG Bashir Adewale Adeniyi

Adeniyi Inaugurates Lagos School Renovated by Nigeria Customs 

Abdullahi Aliyu Maiwada

Customs’ Maiwada Named Among Nigeria’s 50 Most Influential PR Voices

Late President Muhammadu Buhari

Critique of Renaming University of Maiduguri after Muhammadu Buhari By Dr Umar Ardo

FULL TEXT: President Tinubu Extols Muhammadu Buhari at Special FEC Session

Late President Muhammadu Buhari

Buhari’s Shocker: I look Forward to Leaving, and when it’s time, I go to my Grave By Femi Adesina

University of Maiduguri

JUST IN: Tinubu Renames UNIMAID After Muhammadu Buhari

Recent Posts

  • IPRA Calls on UN to Curb Misinformation from AI and Social Media
  • Nnamdi Kanu’s Threat to Break Up Nigeria Was Deliberate, FG Insists
  • ‎FACT-CHECK: Was Obi Ever Pictured Having Coffee with Gen Sani Abacha at the Presidential Villa?
  • NUJ Urges Constitutional Backing for Journalists, Proposes Media Bailout Fund
  • Benue Police Nab Notorious Arms Traffickers, Recover Rocket Launcher, AK-47 Rifles, Ammunition
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
IPRA Calls on UN to Curb Misinformation from AI and Social MediaNnamdi Kanu’s Threat to Break Up Nigeria Was Deliberate, FG Insists‎FACT-CHECK: Was Obi Ever Pictured Having Coffee with Gen Sani Abacha at the Presidential Villa?NUJ Urges Constitutional Backing for Journalists, Proposes Media Bailout FundBenue Police Nab Notorious Arms Traffickers, Recover Rocket Launcher, AK-47 Rifles, AmmunitionTinubu Appoints IBB's Son as Chairman, Bank of Agriculture, Names Heads of Key AgenciesIn Rivers, Customs Hands Over N20.5bn Worth of Fake Drugs to NAFDACCOUNTER-TERRORISM OPERATIONS: Troops Arrest Terrorists Collaborators, Eliminate Scores, Seize Weapons, Rescue Captives Across N'EastAdeniyi Inaugurates Lagos School Renovated by Nigeria Customs UK-Nigeria Pact to Drive Defence Innovation, Joint VenturesCustoms' Maiwada Named Among Nigeria’s 50 Most Influential PR VoicesCritique of Renaming University of Maiduguri after Muhammadu Buhari By Dr Umar ArdoFULL TEXT: President Tinubu Extols Muhammadu Buhari at Special FEC SessionAgain, FG Postpone Recruitment into Paramilitary AgenciesBuhari's Shocker: I look Forward to Leaving, and when it's time, I go to my Grave By Femi Adesina
X whatsapp