Nigeria Deposit Insurance Corporation (NDIC) has intensified efforts to deepen public understanding of deposit insurance and strengthen confidence in the banking system. It also assured Nigerians that depositor funds remained protected under its regulatory framework. NDIC Managing Director, NDIC, Mr Thompson Sunday, made this known at a stakeholders’ town hall meeting on Saturday in Lagos. […]
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 has recovered an additional N24.3bn from the assets of the defunct Heritage Bank Limited to facilitate the repayment of depositors with balances exceeding N5m at the time the bank’s licence was revoked. This was disclosed by Hawwau, Head, Communications and Public Affairs Departmen of the Corporation, in a statement on […]
The Nigeria Deposit Insurance Corporation has declared a second liquidation dividend of ₦24.3 billion to depositors of Heritage Bank Limited, whose balances exceeded the statutory insured limit of ₦5 million at the time the bank was closed, reinforcing ongoing efforts to recover assets and reimburse affected customers. Heritage Bank’s operating licence was revoked by the […]
The Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its full compliance with fiscal and financial regulations, including the Fiscal Responsibility Act (FRA) 2007, as it balances statutory remittances to government with its core mandate of protecting depositors and safeguarding financial system stability. The Managing Director/Chief Executive of NDIC, Mr Thompson Oludare Sunday, said the Corporation […]
.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 inauguration […]
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 Workshop organized by […]
Managing Director of the Nigeria Deposit Insurance Corporation, Alhaji Umaru Ibrahim, has warned depositors against patronising illegal fund operators, otherwise known as “wonder banks” across the country, saying they are not licensed by the Central Bank of Nigeria. Speaking during the 36th Kaduna International Trade Fair to mark the NDIC Special Day, Ibrahim said the […]