Nigeria Deposit Insurance Corporation (NDIC) has advised Nigerians to seek clarification from the corporation on status of suspicious financial institutions and report banking-related infractions to secure their funds.
Thompson Sunday, managing director/chief executive, NDIC, gave the advice on Tuesday at an event to mark NDIC special day at the ongoing Lagos International Trade Fair.
Sunday who was represented by Wale Sule, director of the Claims Resolution Department, said one of the mandates of NDIC is banking supervision.
He added that, the corporation is available to handle any bank customer’s complaints unresolved by banks within two week.
He explained that the mandate of NDIC is to guarantee depositors funds, supervise banks, resolve distressed insured institutions and liquidate failed banks.
He also explained the collaborative role with the Central Bank of Nigeria (CBN) to maintain banking sector stability, enforce regulatory compliance and ensure effective oversight taking institutions
The NDIC boss urged depositors to escalate unresolved complaints to NDIC through its official channels, social media handles, help lines, website, email, offices nationwide, among others.
e also advised the public to watch out for NDIC protection logo towards escaping gimmicks of wonder banks.
“A Wonder Bank cannot have a logo that says protected by NDIC,” he said.
He said if any bank is soliciting for funds, customers should walk into any NDIC offices to complain or verify their authenticity through all NDIC official help lines.
He said the theme of the 2025 fair: “Connecting Business, Creating Value”aligned closely with the public policy objectives and mandate of NDIC.
Sunday said that the fair provided a valuable platform to showcase the ingenuity of the nation’s entrepreneurs, capacity of manufacturers and the creativity of small, medium, and micro enterprises (SMEs).
He added that the fair also highlighted the critical role of the organisation’s financial system as a vehicle that connects economic activities for sustainability and growth
