Business

NDIC urges banks, stakeholders to address financial inclusion challenges

Ihesiulo Grace 11 December 2019 0

Yola – The Nigeria Deposit Insurance Corporation (NDIC) has called on banks and other stakeholders to make concerted efforts toward addressing challenges hindering financial inclusion in the country. Dr Sunday Oluyemi, the Director of Communication and Public Affairs Department of NDIC,

Business

Nigeria banks remain stable, says NDIC

Ihesiulo Grace 11 December 2019 0

Yola – The Nigeria Deposit Insurance Corporation (NDIC) on Tuesday said that the country’s banks remain stable in spite of a negative rating on Nigeria by global credit rating agency, Moody’s. Mr Abdulhameed Aliu, NDIC Deputy Director for Bank Examination, said this at the ongoing workshop for business editors and finance correspondents by the corporation […]

Business Featured News

How we saved N1.75trn depositors fund from failed banks – NDIC

Ihesiulo Grace 21 October 2019 0

The Nigeria Deposit Insurance Corporation (NDIC) says it has saved N1.7trn depositors fund from different failed banks across the country. Managing Director of NDIC, Umaru Ibrahim stated this while giving a scorecard of the agency ahead of its 30 years anniversary celebration in Abuja. Ibrahim said asides saving N1.7trn depositors money, the Corporation also saved […]

News Nigeria

Senate to screen Sokefun, Abike Dabiri as chairmen of NDIC, Diaspora Commission

Ihesiulo Grace 22 November 2018 0

The Senate is set to screen both Mrs Ronke Sokefun and Mrs Abike Dabiri- Erewa for appointment as chairpersons of the Nigerian Deposit Insurance Commission (NDIC) and the Nigerian Diaspora Commission respectively. Senate President, Dr. Bukola Saraki, yesterday, referred names of the two women nominated for appointment by President Muhammadu Buhari to appropriate committees

Business News

NDIC recovers N28bn debts, pays N1.45bn to bank customers

Ihesiulo Grace 19 November 2018 0

The Nigeria Deposit Insurance Corporation (NDIC) said it has recovered total sum of N28.48 billion from debtors of Deposit Money Banks (DMBs) in-liquidation as at December 31, 2017, even as N1.45 billion was paid to 16,324 depositors of 34 closed commercial banks during the same period. This was contained in the Corporation’s 2017 Annual Report, […]

News

Shut financial institutions: NDIC begins verification of insured depositors of 145 MFBs, 6PMBs

Ihesiulo Grace 14 November 2018 0

.Says payment to verified depositors to commence soon The Managing Director/ Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, Tuesday said the corporation has started verification of insured depositors of 145 Microfinance Banks (MFBs), and six Primary Mortgage Banks (PMBs) that the Central Bank of Nigeria (CBN) recently revoked their operating

Business

NDIC emerges best performing public sector agency in IT clearance regulation

Ihesiulo Grace 12 November 2018 0

The Nigeria Deposit Insurance Corporation (NDIC) has been declared the best performing public sector institution in Nigeria on compliance with Information Technology (IT) Clearance Regulation after a rigorous selection process in Nigeria. The award was conferred on the Corporation by the Nigeria Technology Development Agency (NITDA), which is the promoter of IT regulation

Business

NDIC reiterates commitment to safeguarding depositors, effective banking supervision

Ihesiulo Grace 7 November 2018 0

…Explains why CBN revoked licenses of 154MFBs, 6PMBs Nigeria Deposit Insurance Corporation (NDIC) has reiterated its unflinching commitment to safeguarding bank customers’ deposits, as well as collaborating with the Central Bank of Nigeria (CBN) to ensure effective banking industry supervision. Speaking at the NDIC special day at the ongoing 2018 Lagos international

News

Bauchi Govt apologises to Civil Servants, Pensioners over closure of micro finance Banks

Ihesiulo Grace 13 October 2018 0

The Bauchi State Government has tendered apologies to the State Civil Servants and Pensioners who are still awaiting their September salaries and pensions following the closure of six micro finance banks in the state by the National Deposit Insurance Commission (NDIC). The state Head of Civil service, Alhaji Liman Bello who tendered the apologies while […]

Business

IADI elects NDIC boss Africa Regional Committee chair

Ihesiulo Grace 26 September 2018 0

International Association of Deposit Insurers (IADI) has elected the Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim the new Chairperson of the Africa Regional Committee (ARC). The NDIC, on Monday, stated that Ibrahim was elected during the Annual General Meeting (AGM) of the IADI-ARC which was a prelude to […]

Business News

Qualitative education could check violence, insecurity – NDIC

Ihesiulo Grace 22 July 2018 0

The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim has advocated quality education as panacea to check the spate of violence and insecurity challenges currently being experienced in the country. The NDIC Boss made the remark in as keynote Speaker at the 15th Graduation Ceremony of Zaria Academy, Shika, Kaduna State where a

Business

NDIC assists Uganda Deposit Protection Fund

Ihesiulo Grace 4 July 2018 0

The Nigeria Deposit Insurance Corporation (NDIC) is assisting the Uganda Deposit Protection Fund (DPFU) to develop capacity to implement the Deposit Insurance System (DIS) in the East African country. The Corporation recently hosted a five-member delegation from DPFU who arrived the country to understudy the activities of the Corporation. A statement issued Tuesday in

Headlines News

NDIC raises alarm over fraud in Banks

Ihesiulo Grace 12 March 2018 0

Banks record 26,182 fraud cases in 2017 – NDIC • Says ₦12.01 billion lost in 2017 to frauds • Vows to investigate banks The Nigeria Deposit Insurance Corporation (NDIC) has revealed that a total of 26,182 fraud and forgeries cases were recorded in 2017 in Deposit Money Banks (DMBs). The NDIC said that a report […]

Business Headlines

NDIC strengthens anti-graft partnership with ICPC

Ihesiulo Grace 10 February 2018 0

.Vows to enforce zero-tolerance against corruption The Nigeria Deposit Insurance Corporation (NDIC) on Thursday said it has zero -tolerance for all forms of malpractices within the Corporation and in all the initiatives it has taken to fully implement its mandate. The Managing Director/Chief Executive of the Corporation, Umaru Ibrahim, made the remark during the

Business

Sterling bank lauds NDIC over quality of bank examination reports

Ihesiulo Grace 20 January 2018 0

Sterling Bank Plc has commended the Nigeria Deposit Insurance Corporation (NDIC) for the quality of their bank examination reports which have contributed to the safety and soundness of the Nigerian banking system. The Management of the bank expressed the opinion during a courtesy call and formal introduction of its new MD/CEO Mr Abubakar Suleiman to […]

Money

Kano monthly salary payment hits N9b-Ganduje

Ihesiulo Grace 7 December 2017 0

The Kano State Governor, Dr. Abdullahi Ganduje, has said that total sum of N9billion is being spent on a monthly basis for payment of workers’ salaries. Although, he pointed out that his administration is committed and concern about it workers, even when most state governments have not been able to pay salaries as a result […]

Business News

Nigeria again warns citizens against trading in digital currencies

Ihesiulo Grace 24 November 2017 0

The financial sector insurance regulator, the Nigerian Deposit Insurance Corporation, NDIC, has again warned Nigerians against the risk of trading with digital currencies not issued by the Central Bank of Nigeria, CBN. The Director Research, Policy and International Relations, NDIC, Mohammed Umar, said on Thursday in Kano that the mandate of the corporation does not […]

Business

Banks’ chiefs not exploring potential in the North East- MD NDIC

Ihesiulo Grace 24 November 2017 0

The Managing Director/Chief Executive Officer, Nigeria Deposit Insurance Corporation (NDIC), Alh. Umaru Ibrahim on Thursday, said that financial institutions’ directors are not exploring huge potential in the North Eastern part of the country, despite thev federal government of Nigeria intensive efforts to curb Boko Haram insurgency in the region. Speaking at the

Business

North East leaders need sensitization on development – NDIC boss

Ihesiulo Grace 23 November 2017 0

The managing Director, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim has said that except North East leaders are sensitized it would be difficult to develop the region. Ibrahim, who said this at the annual workshop for Business Editors and Finance Correspondents Association of Nigeria (FICAN) also said that the role of the leaders is […]

Business Money

NDIC shines, wins excellence award

Ihesiulo Grace 19 October 2017 0

Temitope Omoniyi The Nigeria Deposit Insurance Corporation (NDIC) has been conferred with the Special Recognition and Commendation Award for Excellence in Banking (Public Service) at the Business Day Banking Awards 2017 which was held on October 14, 2017. In a letter of commendation to the corporation, the awards committee anchored by Business Day Research and […]