The Fiscal Responsibility Commission, FRC, has commended the Nigeria Deposit Insurance Corporation, NDIC, for what it described as Prompt and consistent remittance of its operating surplus to the Consolidated Revenue Fund, CRF, in line with provisions of the Fiscal Responsibility Act, FRA Act, 2007. Executive Chairman of the Commission, Victor Muruako made this commendation on […]
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc following the revocation of their operating licences by the Central Bank of Nigeria (CBN) over undercapitalisation. The action follows the CBN’s decision last week, on December 11, 2025, to withdraw the licences […]
By Tom Garba It was a moment of joy and evidence of dividends of democracy when the inhabitants of Kpasham community in Demsa LGA witnessed the commissioning of a block of three (3) classrooms and the principal’s office reconstructed by the Nigeria Deposit Insurance Corporation (NDIC) and sponsored by Senator (Rev) Binos Dauda Yaroe; Senator […]
By Tunde Opalana The Nigeria Deposit Insurance Corporation’s (NDIC) has been commended by the Charted Institute of Directors (CIoD) Nigeria for its commitment to advancing corporate governance im the country. The President and Chairman of Council of the Institute , Alhaji Tijjani Borodo, made these remarks during a courtesy visit by the CIoD Governing Council […]
By Tunde Opalana The managing director/chief executive officer of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan has attributed the Corporation’s stellar performance at the 2025 Federal Public Service Innovation Competition to its leadership in deployment of technology and creative thinking. Hawwau Gambo Ag. Head, Communication & Public Affairs in a statement on Wednesday […]
BY TEMITOPE ADEBAYO The Nigeria Deposit Insurance Corporation (NDIC) has commenced the payment of N46.6 billion as the first tranche of liquidation dividends to depositors of the defunct Heritage Bank with balances above the insured limit. A liquidation dividend represents the amount paid to depositors of a closed bank, beyond the maximum insured limit, from […]
By Tunde Opalana The Nigerian Deposit Insurance Corporation (NDIC) said it has commenced payment of liquidation dividends to depositors of the liquidated Heritage Bank. According to the Corporation, the payment starts with a total of N46.6 billion as first tranche of dividends to depositors with funds above the insured limit. Hawwau Gambo, acting Head, Communication […]
BY TEMITOPE ADEBAYO The Nigeria Deposit Insurance Corporation (NDIC) said it will pay the first tranche of liquidation dividend to uninsured depositors of the defunct Heritage Bank before the end of April 2025. Speaking during a retreat with the House Committee on Insurance and Actuarial Matters, with the theme: ‘Navigating Financial Disruptions: Strengthening the NDIC’s […]
BY TUNDE OPALANA The Nigeria Deposit Insurance Corporation (NDIC) has clarified its intensified efforts to ensure timely payments to insured depositors of the defunct Heritage Bank whose balances exceed the maximum deposit insurance limit of N5 million. This is as the Corporation assured uninsured depositors of a planned scheduled payment on pro- rate basis after […]
.Completes liquidation of 651 financial institutions BY MOTOLANI OSENI The Nigeria Deposit Insurance Corporation (NDIC) has initiated the sale of Heritage Bank’s assets to compensate depositors whose funds exceed the maximum insured amount of N5 million. This is part of the NDIC’s broader effort to ensure that all depositors, including those with uninsured balances, are […]
By Temitope Adebayo The Nigeria Deposit Insurance Corporation (NDIC) 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, Mr Bello Hassan remarked during a courtesy visit of the NDIC Management to the Executive Chairman of the Economic […]
The attention of the Presidential Support Group has been drawn to the spurious and groundless allegations levelled against Mr Bello Hassan, the managing director and chief executive officer of the Nigeria Deposit Insurance Corporation NDIC, by some vile elements bent on sabotaging the efforts of the President Bola Tinubu Administration to rejig the Nigerian economy. […]
By Temitope Adebayo The House of Representative Committee on Insurance and Actuarial Matters, has said, it would be taking a proactive stance in formulating regulatory frameworks and providing support to the Nigeria Deposit Insurance Corporation (NDIC) to effectively safeguard and secure depositors’ funds in Nigeria. This was stated by the chairman of the committee, Ahmed […]
By Temitope Adebayo The International Association of Deposit Insurers, African Regional Committee (IADI-ARC) has appointed the Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr Bello Hassan its Vice Chairperson. The appointment was made at the IADI-ARC Annual General Meeting (AGM) held recently in Dakar, Senegal. The International Association of Deposit Insurers (IADI) […]
BY ALEX ENEBELI The Nigeria Deposit Insurance Corporation (NDIC) on Thursday in Enugu assured depositors of the safety of their money against unusual bank failures. The assurance was given by the Senior Manager, Enugu Zonal Office of NDIC, Mr Othman Afolayan who represented the Managing Director, Mr Bello Hassan at the NDIC Day at the […]
By Motolani Oseni Depositors of all liquidated banks have recovered no less than N113.2 billion of their savings through the Nigeria Deposit Insurance Corporation (NDIC) in the country, as of June 2022. While a sum of N11.83 billion was paid to over 443,949 insured depositors by the corporation, uninsured ones got N101.37 billion. Speaking on […]
*Paid ₦8.268bn to 443,946 insured depositors, ₦100.080bn to the uninsured as at Sept, 2011 *Corporation reviews banks’ DIF contributions, others to improve stability For a more resilient banking system, the Nigeria Deposit Insurance Corporation (NDIC) said it has evolved a set of measures, including scaling up banks’ deposit insurance and timely support to insured institutions […]
The Nigeria Deposit Insurance Corporation (NDIC) said its prompt resolution of banks’ failure over the years saved the banking sector from systemic collapse. Mrs. Ronke Shokefun, Chairman NDIC Board of Directors, said this at a retreat organised by NDIC for Members of the House of Representatives Committee on Insurance and Actuarial Matters, on Thursday in […]
Fear has gripped operators of Microfinance Banks (MfBs) in the country, as the Nigeria Deposit Insurance Corporation (NDIC) says it will verify the claims of stakeholders of the 42 MfBs whose licenses were revoked in the latest efforts of the Central Bank of Nigeria (CBN) to delist insolvent operators from the industry. The verification exercise […]
By Motolani Oseni International Association of Deposit Insurers (IADI) have commended the Nigeria Deposit Insurance Corporation (NDIC) for proposing the establishment of the African Center for Deposit Insurance (ACDI) to be domiciled in the NDIC Academy, Abuja to provide training and enhance the capacity for the staff of member countries on the continent. The commendation […]