Headlines

NDIC commences sale of Heritage Bank assets to compensate uninsured depositors

DailyTimesNGR DailyTimesNGR 27 September 2024 0

.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

Money

NDIC, EFCC strengthen partnership to curb financial crimes in banking sector

DailyTimesNGR DailyTimesNGR 25 March 2024 0

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 […]

Politics

Presidential Support Group Passes Vote of Confidence on NDIC

Ihesiulo Grace 15 February 2024 0

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. […]

Money

Reps to support NDIC in securing depositors’ funds through proactive framework

DailyTimesNGR DailyTimesNGR 20 January 2024 0

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,

Business

IADI–ARC appoints NDIC boss, Bello as Vice Chairperson

Ihesiulo Grace 5 September 2023 0

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

Headlines

NDIC assures Nigerians of safety of bank deposits

Ihesiulo Grace 31 March 2023 0

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 […]

Business Headlines

Depositors of failed banks recovered N113.2bn through NDIC

Ihesiulo Grace 29 November 2022 0

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 […]

Business Headlines

Our Bridge Bank option saved over 12,667 jobs, secured N1.021trn deposits – NDIC

Ihesiulo Grace 29 November 2021 0

*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

News

NDIC’s prompt resolution saved banking sector from collapse – Shokefun

Ihesiulo Grace 26 November 2021 0

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 […]

News

Fear grips operators as CBN, NDIC begin liquidation of 42 MfBs

Ihesiulo Grace 22 December 2020 0

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 […]

News

IADI lauds NDIC over African Centre for Deposit Insurance

Ihesiulo Grace 26 November 2020 0

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

News

NDIC academy recertified for training services in banking sector

Ihesiulo Grace 28 September 2020 0

By Philip Clement The Nigeria Deposit Insurance Corporation (NDIC) Academy has now been recertified and its accreditation renewed as a training service provider for various professionals in the banking industry for the next three years effective June, 2020. The recertification exercise was done by the Council of the Chartered Institute of Bankers of Nigeria (CIBN), […]

News

Senate confirms NDIC, Law Reform Commission nominees

Ihesiulo Grace 9 June 2020 0

The Senate on Tuesday confirmed the nominations of Mrs. Diana Okonta (South-South); and Mrs. Ya’ana Talib Yaro (North-East) as Non-Executive Directors of the Nigerian Deposit Insurance Corporation (NDIC). The appointment of both nominees was approved after the Senate considered the report of the Committee on Banking, Insurance and other Financial Institutions. Also

Business

Senate screens two NDIC Non-Executive directors

Ihesiulo Grace 8 June 2020 0

The Senate Committee on Banking, Insurance and Other Financial Institution has screened two nominees of Nigeria Deposit Insurance Corporation (NDIC) Non-Executive Directors. President Muhammadu Buhari had earlier forwarded to the Senate, names of Ms. Diana Okonta and Hajiya Ya’ana Yaro as Non-Executive Director nominees to represent the South-South and North-East

News

President Buhari appoints NAICOM, NDIC board members

Ihesiulo Grace 3 May 2020 0

President Muhammadu Buhari has approved the appointment of Mr Sunday Thomas as the substantive Commissioner for Insurance/Chief Executive Officer, National Insurance Commission (NAICOM). Mr Yunusa Abdullahi, Special Adviser, Media and Communications to the Minister of Finance, Budget and National Planning disclosed this in a statement in Abuja on Sunday. Thomas replaced

Business

NDIC commiserates with Buhari on Abba Kyari’s death

Ihesiulo Grace 20 April 2020 0

The Nigeria Deposit Insurance Corporation (NDIC) has condoled with President Muhammadu Buhari on the demise of his late Chief of Staff Mallam Abba Kyari who died on Friday 17th of April, 2020. In a letter addressed to the President and signed on behalf of the Board of Directors, Executive Management and the entire staff of […]

News

NDIC contributes N1bn to COVID-19 crisis relief fund

Ihesiulo Grace 9 April 2020 0

The Board of the Nigeria Deposit Insurance Corporation (NDIC) has approved the immediate release of the sum of N1 billion Naira to the COVID-19 Relief Fund being put together to fight against the Corona Virus pandemic in Nigeria. In approving NDIC’s contribution to the Fund, the Board of the Corporation acknowledged that it was not […]

News

NDIC pledges to support EFCC’s anti- corruption war

Ihesiulo Grace 12 March 2020 0

The Nigeria Deposit Insurance Commission (NDIC) has pledged to support the Economic and Financial Crimes Commission (EFCC) in curbing the menace of corruption in the country. Ilorin Zonal Controller of NDIC, Olugbenga Alabi, made the pledge on Thursday during his visit to the Ilorin zonal office of the EFCC. READ ALSO: Buratai pledges more opportunities […]

Business

NDIC wins N1.4bn debt recovery case against debtor of defunct Gulf Bank

Ihesiulo Grace 28 February 2020 0

In its capacity as official liquidator, the Nigeria Deposit Insurance Corporation (NDIC) has secured a judgment against Jolimair Nigeria Limited and three other debtors who owed the defunct Gulf Bank Plc the sum of N1.4 billion. In a debt recovery suit Number: FHC/L/CS/1328/17 – NDIC (Gulf Bank) vs. Jolimair Nigeria Limited & 3 Others, the NDIC […]

Business

NDIC dismisses reports of ongoing recruitment exercise

Ihesiulo Grace 28 January 2020 0

Nigeria Deposit Insurance Corporation (NDIC) has dismissed reports of ongoing recruitment exercise by the Corporation. A statement by Mohammed Kudu Ibrahim, on behalf of the Corporation, said the reports are untrue and aimed at defrauding innocent Nigerians.  “The attention of the Nigeria Deposit Insurance Corporation has been drawn to a report on the online platforms