The Nigeria Deposit Insurance Corporation (NDIC) has begun paying insured deposits to customers of the 46 recently failed microfinance banks. The NDIC Managing Director and Chief Executive, Mr Thompson Sunday, disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja. The interview took place on the …
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THE Senate on Tuesday at plenary passed a bill to strengthen the capacity of the Nigeria Deposit Insurance Corporation’s (NDIC) to safeguard depositors fund and strengthen financial institutions in Nigeria. This followed adoption of report of Senate Committee on Banking, Insurance and other Financial Institutions on the bill titled, “Nigeria …
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THE Nigeria Deposit Insurance Corporation (NDIC), has reviewed upward the maximum deposit insurance coverage for depositors of all licenced deposit taking financial institutions in event of bank failure. The News Agency of Nigeria (NAN) reports that deposit insurance is the government’s guarantee that an account holder’s money at an insured …
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THE Nigeria Deposit Insurance Corporation (NDIC) has increased deposit insurance coverage for all licensed deposit-taking financial institutions. Speaking at a press briefing in Abuja on Thursday, the NDIC Managing Director/Chief Executive, Bello Hassan, said the coverage ensures that depositors will be reimbursed up to a certain limit for their deposits in …
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NIGERIA Deposit Insurance Corporation, NDIC, has announced that it paid over N1.7 billion to customers of revoked microfinance banks (MFBs) and four primary mortgage bank (PMBs) licenses. According to NAN, Mr Bello Hassan, Managing Director/Chief Executive Officer, NDIC, said this at the 2023 NDIC Editors’ Forum on Saturday in Lagos. …
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The Nigeria Deposit Insurance Corporation (NDIC) has issued verification notice to depositors of Post Service Savings and Loans in-liquidation. The NDIC on its official Twitter handle on Saturday, said the verification was to effect payment of insured deposits to the depositors. The corporation said the exercise would commence between Nov. …
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Nigeria Deposit Insurance Corporation and the House of Representatives Committee on Insurance and Actuarial Matters have pledged to increase collaboration to strengthen the financial system stability. This is coming on the heels of the 2022 retreat organised by the corporation for the Committee with the theme, “Deposit Insurance in Nigeria: …
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