The Nigeria Deposit Insurance Corporation (NDIC) has celebrated the unprecedented achievement for its reimbursement of the Heritage Bank depositors with payment of about 82.36% of the total insured deposit to date. This was disclosed in a statement released by the Corporation on Sunday, which follow the direct payment via BVN-linked …
Read More »Customers Protection: Nigeria Raises Bank Deposit Insurance Coverage to N5 Million
The Nigeria Deposit Insurance Corporation (NDIC) has implemented a significant increase in deposit insurance coverage across various banking sectors in Nigeria. This change aims to provide greater financial security for bank customers in the event of a bank failure. Effective immediately, deposit insurance coverage for Deposit Money Banks (DMBs) has …
Read More »NDIC Commences Depositors Verification for 22 Microfinance Banks With Revoked Licences
…Begins claims payment to 14 liquidated banks’ depositors, shareholders The Nigeria Deposit Insurance Corporation (NDIC), yesterday, said it has commenced the verification of depositors of 22 Microfinance Banks (MFBs) whose licences were recently revoked by the Central Bank of Nigeria (CBN). The verification exercise, according to NDIC is aimed at …
Read More »NDIC establishes New unit on Fintech, innovation
The Nigeria Deposit Insurance Corporation (NDIC) has responded to technological innovations and applications in financial services with the establishment of a new “FINTECH AND INNOVATIONS UNIT” to align with contemporary trends in advanced economies. The development is also in consonance with the Corporation’s Strategic Vision, which is to become one …
Read More »NDIC chairman nomination: Buhari replaces Olabode Mustapha with Ronke Shokefun
President Muhammadu Buhari has withdrawn the nomination of Olabode Akin Mustapha as chairman of governing board of Nigeria Deposit Insurance Corporation (NDIC) and replaced it with Ronke Shokefun. Buhari’s request was contained in a letter read by Senate President Bukola Saraki on the floor of the upper legislative chamber on Tuesday. …
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