By Constance Athekame
Electricity access is essential for people’s lives and livelihoods; from using fridges for storing food and medicine; charging mobile phones to stay connected; lighting up households and schools at night to powering local businesses.
Most people in many rural areas of Nigeria lack access to electricity and only few can afford costly diesel-powered generators that lead to pollution and noise endangering people’s life.
Solar-powered mini-grids could be the answer to rural communities’ access to electricity because it is well-suited to small, remote communities, renewable energy mini-grids can now be the cheaper, greener option.
Providing electricity to rural populations can take three forms: grid extension; standalone solar systems; and mini-grids.
MONEY MARKET
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the closure of 42 Microfinance Banks (MFBs) whose operating licences were recently revoked by the Central Bank of Nigeria (CBN) with verification of their respective depositors.
This was disclosed in a statement signed by the Director, Claims Resolution Department of the Corporation, Mrs. Nurat Ajigbewu.
According to the NDIC, the CBN revoked the operating licences of the failed MFBs with effect from Thursday 12th November, 2020. Consequently, the Corporation as the official liquidator of the banks commenced the process of closure and payment of insured sums to verified depositors of the banks.
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Following the revocation of the licences of 42 microfinance banks, on Friday, Nigeria Deposit Insurance Corporation (NDIC), on Monday, said it has commenced their closure.
The closure commenced with verification of their respective depositors.
This was disclosed in a release signed by the Director, Claims Resolution Department of the Corporation, Mrs Nurat Ajigbewu.
According to the NDIC, the CBN revoked the operating licences of the failed MFBs with effect from Thursday, November 12, 2020. Consequently, the Corporation as the official liquidator of the banks commenced the process of closure and payment of insured sums to verified depositors of the banks.
In carrying out this mandate, the Corporation has requested all depositors of the closed banks to visit the respective banks’ addresses from Monday 21st – Thursday 24th December 2020 where NDIC officials would be on the ground to verify their claims.
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