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

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

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, made the call on Wednesday at a workshop for Business Editors and Finance

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

News Top Stories

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 […]