The Nigerian Government has reviewed upward the Maximum Deposit Insurance Coverage for banks operating within the country. In a recent briefing with journalists, Nigeria Deposit Insurance Corporation Managing Director, Bello Hassan disclosed the new coverage benchmarks. The NDIC for Deposit Money Banks has been raised from N500,000 to N5 million, for Microfinance Banks from N200,000 […]
NDIC increases banks deposit insurance coverage
Patronise only licensed deposit financial institutions – NDIC tells depositors
The Nigeria Deposit Insurance Corporation, NDIC, has advised depositors to patronize only deposit financial institutions licensed by the Central Bank of Nigeria, CBN. The Managing Director of NDIC, Mr Bello Hassan, said this while briefing newsmen on the review of the maximum deposit insurance coverage level for depositors of failed banks in Abuja on Thursday. […]
NDIC, EFCC reiterate commitment to combating financial crimes
The Nigeria Deposit Insurance Corporation, NDIC, says it remains committed to ensuring that those who contribute to the failure of banks are properly investigated and prosecuted. The Managing Director and Chief Executive of the NDIC, Bello Hassan, made this statement during a courtesy visit of the NDIC Management to the Executive Chairman of the Economic […]
NDIC solicits return of depositors’ funds recovered by EFCC
The Nigeria Deposit Insurance Corporation, NDIC, has restated its commitment to ensuring that those who contribute to the failure of banks are properly investigated and prosecuted. The Managing Director of the NDIC, Bello Hassan, who gave the assurance during a courtesy visit to the Economic and Financial Crimes Commission, EFCC, Chairman, also tasked the anti-graft […]
Don’t allow banks to fail – EFCC boss tasks NDIC
The Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, has called on the Nigeria Deposit Insurance Corporation, NDIC, to keep closer watch on banks across the country to avoid failure and its attendant unsavory effects on the economy. A statement by EFCC spokesperson, Dele Oyewale, said Olukoyede made the call when the […]
NDIC committed to protecting depositors’ funds – MD, Hassan
The Nigeria Deposit Insurance Corporation, NDIC, says its priority remains the protection of depositors’ funds. As a result, it has reimbursed depositors of 179 rested microfinance and four mortgage banks across the country. Dr Bello Hassan, the Managing Director of the NDIC, represented by Hauwa Gambo, the NDIC’s Deputy Director of Communication, at the NDIC […]
NDIC amendment bill scales second reading in Senate
An Amendment Bill seeking to guarantee the autonomy and independence of the Nigeria Deposit Insurance Corporation, NDIC, scaled second reading in the Senate on Thursday. The sponsor of the bill, Senator Mukhail Adetokunbo Abiru, APC, Lagos East, said the proposed amendment is line with Section 1 (3) of the principal Act, 2006. Speaking on the […]
NDIC, CBN begins intense surveillance of banking system
The Nigeria Deposit Insurance Corporation (NDIC), and the Central Bank of Nigeria (CBN) have commenced supervision of the banking sector to ensure the non-performing loan ratio remains below the maximum threshold set. The Managing Director, NDIC, Bello Hassan disclosed this to lawmakers during a retreat to inform the legislature on the activities of the NDIC, […]
NDIC, CBN begins intense surveillance of banking system
The Nigeria Deposit Insurance Corporation (NDIC), and the Central Bank of Nigeria (CBN) have commenced supervision of the banking sector to ensure the non-performing loan ratio remains below the maximum threshold set. The Managing Director, NDIC, Bello Hassan disclosed this to lawmakers during a retreat to inform the legislature on the activities of the NDIC, […]