NDIC and NIBSS Team Up to Speed Up Depositor Payments After Bank Failures

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December 18, 2025

2025-12-18 00:00:00

Punch reports that the Nigeria Deposit Insurance Corporation (NDIC) and the Nigeria Inter-Bank Settlement System (NIBSS) have entered a partnership aimed at improving how depositors of failed banks are identified and paid.

The report says the collaboration targets faster verification and cleaner payment processes, reducing delays that often frustrate depositors after bank liquidations.

Officials are positioning the move as part of wider financial-system stability efforts, especially as digital identity and payment rails deepen across Nigeria.

The Guardian reported that the NDIC–NIBSS collaboration is designed to make liquidation payouts more efficient and transparent. (Guardian Nigeria)

NAN also reported the partnership and said it would strengthen processes for paying insured depositors of failed institutions. (NAN)

Analysis/Echotitbits take: Faster payouts improve trust in the banking system and reduce panic during stress events. Watch whether NDIC publishes clearer payout timelines, integrates BVN/NIN-linked verification more deeply, and expands outreach so rural depositors can access claims easily.

Source: Punch — December 18, 2025 (https://punchng.com/ndic-nibss-to-strengthen-failed-banks-depositor-payouts/)

Photo credit: Daily Post Nigeria

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Senate Advances Overhaul of Nigeria’s Audit Framework With Updated Federal Audit Bill

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B.O.B Echoload

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December 18, 2025

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2025-12-18 00:00:00

The Nation reports that the Senate has concluded work on amendments aimed at replacing the decades-old audit framework, with lawmakers advancing a Federal Audit Service Bill meant to strengthen oversight and public sector accountability.

The report says the legislation updates Nigeria’s audit architecture and could impact how ministries, departments, and agencies are scrutinised, especially around procurement and project execution.

Supporters argue the reform is overdue, while critics insist effective enforcement will matter more than new legal text.

Punch reported that the Senate concluded consideration of the bill, describing it as a move to modernise federal audit structures. (Punch)

The Guardian similarly covered the development and framed it as a step toward stronger accountability in government spending oversight. (Guardian Nigeria)

Analysis/Echotitbits take: Modern audit rules can tighten leakages only if institutions are independent and audit findings lead to consequences. Watch the final bill text, implementation timelines, and whether audit reports become more timely and publicly accessible.

Source: The Nation — December 18, 2025 (https://pmnewsnigeria.com/2025/12/17/senate-concludes-amendment-to-69-year-old-audit-act/)

Photo credit: PM News Nigeria

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Trump Sends U.S. Forces to Ecuador in Expanded Anti-Drug Cooperation

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B.O.B Echoload

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December 18, 2025

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2025-12-18 00:00:00

Vanguard reports that the United States is deploying military personnel to Ecuador as part of a renewed anti-narcotics push, reflecting a broader security strategy in the Americas.

The report indicates the deployment would support joint operations, surveillance, and logistics in collaboration with Ecuadorian forces.

Officials say the arrangement is time-bound, with the stated aim of disrupting trafficking routes and strengthening maritime and air interdiction.

Dawn, citing AFP, reported that the mission would be a “temporary operation” alongside Ecuadorian forces. (Dawn/AFP)

Barron’s, also carrying the AFP account, described the move as part of intensified U.S. drug interdiction efforts in the region. (Barron’s/AFP)

Analysis/Echotitbits take: While far from Nigeria geographically, U.S. interdiction shifts can affect global trafficking patterns and enforcement priorities—sometimes displacing routes. Watch for whether West African transit corridors see knock-on effects as pressure increases in Latin America.

Source: Vanguard — December 18, 2025 (https://www.vanguardngr.com/2025/12/trump-deploys-military-to-ecuador-for-anti-drugs-operation/)

Photo credit: Vanguard News

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Gunmen Kill 12 Miners, Abduct Others in Plateau’s Barkin Ladi Area

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B.O.B Echoload

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December 18, 2025

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2025-12-18 00:00:00

Vanguard reports that gunmen attacked a mining community in Plateau State, killing 12 people and abducting others in an assault that adds to security concerns around mining routes and rural settlements.

Witness accounts cited in the report suggest the attackers struck at night, with security responders later evacuating bodies and searching surrounding areas.

The incident has renewed calls for stronger protection for communities hosting artisanal and commercial mining activity.

Punch also reported the incident, noting that victims were miners and that the attack occurred around Barkin Ladi in Plateau State. (Punch)

Daily Post similarly reported the fatalities and abductions, describing the incident as another sign of worsening insecurity in parts of the North-Central. (Daily Post)

Analysis/Echotitbits take: Plateau’s repeated rural attacks highlight the need for better intelligence-led policing and tighter control of mining corridors where cash and minerals can attract violent groups. Watch for arrests, community-led early warning systems, and whether federal and state authorities deploy specialised security to mining belts.

Source: Vanguard — December 18, 2025 (https://elanzanews.ng/gunmen-kill-12-miners-abduct-three-in-plateau/)

Photo credit: Elanza News

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Debt Service and Salaries Outstrip Federal Revenue in 2025 Budget Data

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B.O.B Echoload

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December 18, 2025

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2025-12-18 00:00:00

According to Punch, official budget documents show that debt service and personnel costs consumed more than the Federal Government’s total revenue in the first seven months of 2025, underscoring the pressure on fiscal space.

The report says earnings came in well below pro-rata targets, forcing deep cuts to capital spending and tightening the room for new projects without additional borrowing or revenue reforms.

The figures add weight to growing concerns about budget credibility, cash-backing of appropriations, and the need for stronger domestic revenue mobilisation.

BusinessDay reported that “debt servicing and personnel costs consumed more than the Federal Government’s entire revenue” for the period, citing official budget documents. (BusinessDay)

Another report on the same figures said Nigeria earned far below targets between January and July and that the gap hit capital releases hard. (Legit.ng)

Analysis/Echotitbits take: When “fixed” obligations swallow revenue, the real economy suffers via delayed infrastructure and weak service delivery. Watch for 2026 revenue measures, credible subsidy/accounting reforms, and how government aligns spending plans with cash realities.

Source: Punch — December 18, 2025 (https://punchng.com/salaries-debt-service-gulp-105-of-govt-revenue/)

Photo credit: Punch

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Private Capital Lines Up to Take Over and Toll Lagos–Calabar Coastal Highway Section 1

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B.O.B Echoload

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December 18, 2025

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2025-12-18 00:00:00

As reported by Punch, Nigeria’s Works Ministry says four investors have indicated interest in taking over Section 1 of the Lagos–Calabar Coastal Highway under a concession model that would allow tolling to recover costs.

The report quotes officials as describing the arrangement as a public–private approach meant to reduce the fiscal burden on government while accelerating delivery of critical infrastructure.

The concession discussion comes as the project faces sustained public debate on cost, transparency, and procurement—issues government insists it is addressing.

Sahara Reporters quoted the minister saying, “about four different companies… want to pay 100% of what we have spent… and they would take it over and toll it.” (Sahara Reporters)

Another report circulating the same remarks quoted Umahi: “There are about four companies that have indicated interest… take it over and toll it.” (BrandIconImage)

Analysis/Echotitbits take: A toll-backed concession could unlock funding, but it also shifts the debate to affordability, route economics, and contract openness. Watch for the identity of bidders, the tolling framework, and whether an independent value-for-money review is published to calm public skepticism.

Source: Punch — December 18, 2025 (https://punchng.com/four-investors-push-for-lagos-calabar-highway-concession/)

Photo credit: Punch

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Burkina Faso Releases Nigerian Air Force Crew After Emergency Landing Talks

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B.O.B Echoload

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December 18, 2025

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2025-12-18 00:00:00

In a report carried by Punch, Burkina Faso has released Nigerian Air Force personnel detained after a military aircraft made an emergency landing, following diplomatic engagement between both countries.

The development, according to the report, followed high-level talks led by Nigeria’s foreign affairs officials, with authorities seeking to de-escalate what had become a sensitive regional incident.

The aircraft, Punch notes, was en route for scheduled maintenance when the emergency diversion occurred—an episode that unfolded amid broader tensions in the Sahel region.

The Associated Press quoted a spokesperson as saying, “Matters have been resolved, they are no longer detained,” while noting that the incident had triggered heightened security posture in the Sahel alliance. (AP)

The Guardian earlier described the landing as an “unauthorised” incident that deepened a diplomatic standoff and fuelled conflicting reports about the troops’ status. (The Guardian)

Analysis/Echotitbits take: The quick resolution underscores how fragile airspace and security incidents can become in West Africa’s current climate. Watch for whether this episode leads to new protocols on military transit, clearer regional deconfliction channels, and re-calibrated Nigeria–Sahel alliance engagement.

Source: Punch — December 18, 2025 (https://www.premiumtimesng.com/news/top-news/843935-burkina-faso-frees-detained-nigerian-soldiers.html)

Photo credit: Premium Times

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Regulators Exit as Dangote–NMDPRA Dispute Rattles Nigeria’s Fuel Market

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B.O.B Echoload

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December 18, 2025

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2025-12-18 00:00:00

According to Punch, Nigeria’s petroleum sector was jolted by the resignation of the heads of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), amid an escalating dispute tied to Dangote Refinery’s allegations and petition.

The report says the resignations followed weeks of public tension over fuel import licensing, pricing dynamics, and regulatory oversight, with marketers warning that uncertainty could deepen the squeeze on downstream operators.

Punch notes that Dangote’s petition to the ICPC alleging questionable wealth and conduct by the NMDPRA chief added pressure to an already heated standoff, even as government moved to nominate replacements for both agencies.

ICPC, in a public notice, confirmed it had received “a formal petition” against the NMDPRA CEO and said “the petition will be duly investigated.” (ICPC)

Reuters also reported the shake-up as a major signal to investors watching the refining and downstream market, quoting an energy lawyer who said the developments were not expected to “adversely affect investor confidence.” (Reuters)

Analysis/Echotitbits take: A regulator shake-up in the middle of a pricing war raises fresh questions about policy consistency under the Petroleum Industry Act. Watch for what the Senate confirmation hearings reveal—especially on import licensing, market competition rules, and how government balances energy security with private refining ambitions.

Source: Punch — December 18, 2025 (https://punchng.com/petrol-war-fallout-nmdpra-nuprc-bosses-resign-as-dangotes-petition-rocks-sector/)

Photo credit: Punch

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Trump’s White House “Presidential Walk of Fame” plaques take aim at Biden, Obama and Bush

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B.O.B Echoload

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December 17, 2025

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Photo Credits: Colonnade at the White House, Wednesday, Dec. 17, 2025, in Washington. (AP Photo/Alex Brandon/Mark Schiefelbein

2025-12-17
According to CBS News (citing the Associated Press), a walkway in the White House’s West Wing that President Donald Trump has dubbed the “Presidential Walk of Fame” now includes new plaques installed beneath portraits of past presidents.

The plaques feature pointed, often subjective commentary about several predecessors. CBS/AP reports that the introductory marker says the display was “conceived, built, and dedicated” by Trump as a tribute to presidents “good, bad, and somewhere in the middle.”

Reuters reports that former President Joe Biden is uniquely not represented with a portrait; instead, the spot features an image of an autopen. Reuters also notes the plaques criticize Biden, Barack Obama, Bill Clinton and even Republican George W. Bush, framing their legacies in combative political language.

Credit: Echotitbits.com. Adapted from reporting by CBS News/AP and Reuters (both published Dec. 17, 2025). Original link provided: New York Post.
New York Post (link provided); CBS News/AP; Reuters

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Lagos Police Detain TikToker Peller After Reckless Driving Livestream Sparks Outrage

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B.O.B Echoload

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December 17, 2025

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Photo Credit: Vanguard News

2025-12-17

In an update shared by *The Punch*, the Lagos State Police Command says it has arrested and detained popular TikToker Habeeb Hamzat (Peller) following a viral video showing reckless driving and a crash during a livestream.

Police officials described the conduct as dangerous to the suspect and other road users, adding that the case has been transferred for further investigation and that prosecution will follow based on findings.

The episode has reignited the debate around “content stunts” on social media and the boundaries between entertainment, public safety, and criminal liability.

Other reporting on the same development includes:
– The Nation: “The police warned influencers against promoting unlawful and dangerous acts online.”
– Premium Times: “Authorities say enforcement will be strengthened to deter similar behaviour.”

Analysis/Echotitbits take: This is a test case for Nigeria’s response to risky influencer culture. Watch whether the case ends in a clear court outcome (not just detention), and whether Lagos pairs enforcement with road-safety education targeted at young creators.

Source: The Punch — December 17, 2025 (https://punchng.com/police-arrest-popular-tiktoker-peller-over-reckless-driving/)

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