30 results
- 20 Nov 2018
NDIC Recovers N28.5Bn from Debtors of Ailing Banks
Nigeria Deposit Insurance Corporation (NDIC) has recovered N28.48 billion from debtors of Deposit Money Banks in-liquidation as at December 31, 2017, according to Alhaji Umaru Ibrahim, managing…
- 25 May 2018
Concerns as NDIC Warns of Another Bank Failure
Another bank failure is imminent in the country on the back of weak corporate governance culture and weak internal control, according to Alhaji Umaru Ibrahim, managing director, NDIC, Nigeria Deposit…
- 3 Mar 2017
3 Million Nigerians Lost N18Bn to MMM – NDIC
The Nigerian Deposit Insurance Corporation (NDIC) has said about three million Nigerians lost N18 billion in the Phonzi scheme, popularly called Mavrodi Mundial Movement (MMM). Alhaji Umaru Ibrahim,…
- 12 May 2017
No Sick Bank in Nigeria- NDIC
Alhaji Umaru Ibrahim, managing director and chief executive, Nigeria Deposit Insurance Corporation (NDIC), has dismissed rumours making the round that some banks in the country are distressed.…
- 13 Sept 2018
NDIC Chides Banks for Abuse of Ethics
Alhaji Umaru Ibrahim, managing director and chief executive, Nigeria Deposit Insurance Corporation (NDIC), has decried instances of abuse of extant regulations and ethical standards by deposit money…
- 27 Sept 2019
NDIC Pays N116.2Bn to Depositors of Dead Banks
Nigeria Deposit Insurance Corporation (NDIC) said it has paid a total sum of N116.258billion to depositors and customers of defunct banks last year. Alhaji Umaru Ibrahim, managing…
- 5 Jun 2013
NDIC Strategises on Emerging Issues in Banking Industry, Depositors Safety
The Nigeria Deposit Insurance Corporation (NDIC), said it would develop strategies to address emerging issues affecting the performances of banks to protect depositors. Alhaji Umaru Ibrahim, managing…
- 16 Apr 2013
NDIC Moves to Protect Investors in Capital Market
Alhaji Umaru Ibrahim, managing director, Nigeria Deposit Insurance Corporation (NDIC) has said that the agency is seeking for the establishment of an explicit investor protection scheme to protect…
- 4 May 2014
NDIC Tasks Banks on Tech Deploymen
Alhaji Umaru Ibrahim, managing director/chief executive officer of Nigeria Deposit Insurance Corporation (NDIC), has projected that the future of the banking industry will be more complex in terms of…
- 20 Aug 2016
NDIC Unhappy with Casual Workers in Banks
Alhaji Umaru Ibrahim, managing director and chief executive, Nigeria Deposit Insurance Corporation (NDIC), has reiterated the need to reduce the phenomenon of staff casual employments in the banking…
- 5 Mar 2014
CBN Set to Liquidate 83 Micro Finance Banks
Alhaji Umaru Ibrahim, managing director of the Nigeria Deposit Insurance Corporation, said yesterday that the Central Bank of Nigeria has approved the liquidation of 83 licensed micro finance banks.…
- 8 Feb 2010
Banks Are Now Safe - NDIC
Customers will now heave a sigh of relief and patronize any bank as Alhaji Umaru Ibrahim, acting managing director, Nigeria Deposit Insurance Corporation (NDIC) has assured that Nigerian banks are…
- 16 Dec 2016
NDIC, CBN Mull Digital Currency to Battle MMM
Alhaji Umaru Ibrahim, Managing Director, Nigeria Deposit Insurance Commission (NDIC), yesterday said the commission and Central Bank of Nigeria (CBN) had set up a committee to look into the trending…
- 31 Dec 2019
Mobile Money Subscribers Hit 9.25m in 6 Months
The number of subscribers to the 23 Mobile Money Operators (MMOs) in the country stood at 9.25million as at the first half of this year, Alhaji Umaru Ibrahim, managing director and chief executive of…
- 30 Sept 2018
Ibrahim NDIC Boss Emerges IADI Africa Regional Committee Chair
Umaru Ibrahim, the managing director of the Nigeria Deposit Insurance Corporation (NDIC), has been elected the new Chairperson of the Africa Regional Committee (ARC) of the International Association…
- 16 Aug 2016
NDIC Charges Jaiz Bank on Good Corporate Governance
The Management of Jaiz Bank Plc has been advised to strengthen its corporate governance in order to weather the storm of economic challenges that is currently facing Nigeria’s banking industry. A…
- 17 Dec 2013
NDIC to Advance Insured Deposits Pending Claims Processing
The Nigeria Deposit Insurance Corporation (NDIC) is considering an advance payment of insured deposits once the licence of any insured institution is withdrawn by Central Bank of Nigeria (CBN). This…
- 4 Nov 2014
NDIC Bags 2014 IADI Award
Nigeria Deposit Insurance Corporation (NDIC) has won the 2014 International Association of Deposit Insurers (IADI) award as the Best Deposit Insurance Organisation of the Year under Category 2 of the…
- 5 Mar 2020
NDIC Pays All Depositors of 18 Failed Banks
Nigeria Deposit Insurance Corporation (NDIC), said it has fully paid all depositors of the 18 failed banks their deposits and paid creditors and shareholders of the banks N4.987 billion as…
- 29 Sept 2015
MFBs Lose N4Bn to Poor Management, Overhead Costs
Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) have said that many microfinance banks (MFBs) in Nigeria are undercapitalised and are at risk of being distressed.…
- 24 Jan 2015
NDIC Grants More Rebate on Insurance Premium for DMBs
Nigeria Deposit Insurance Corporation (NDIC) has further reduced the deposit insurance premium rate to all Deposit Money Banks (DMBs) in Nigeria as part of efforts toward contributing to financial…
- 22 Mar 2018
NDIC Warns Nigerians of “Wonder Banks”
The Nigeria Deposit Insurance Corporation (NDIC) has urged Nigerians to be wary of “wonder banks” that give extra-ordinary interest rates and profits on investments. Its Managing Director, Alhaji…
- 31 May 2017
NDIC Academy Leads Africa in Deposit Insurance
The Nigeria Deposit Insurance Corporation (NDIC), is set to lead the African Sub-Region, to enhance capacity building and bridge skills gaps in the banking industry and the Deposit Insurance Scheme…
- 11 Apr 2019
NDIC Decries Rising Cybercrime, Ponzi Schemes
The Nigeria Deposit Insurance Corporation, NDIC, has disclosed that the increased sophistication of cybercrime and the proliferation of Ponzi schemes were major challenges it is facing at the moment.…
- 6 Aug 2017
Banks’ Staff, Others Steal N2.4Bn -NDIC
Banks in Nigeria lost N2.4 billion to fraud and forgeries executed by staff in connivance with fraudsters in 2016, according to the Nigeria Deposit Insurance Corporation (NDIC), NDIC attributed the…
- 19 Oct 2017
NDIC wins Excellence Award
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…
- 25 Oct 2017
How and Why Contract Staff Aid Bank Fraud
There are indications that the growing tendency among banks to give sensitive positions to contract staff is heightening the risk of lenders being hit by fraudsters, according to New Telegraph.…
- 17 Dec 2018
EFCC Docks Ex-Skye Bank’s Chair, MD over Alleged N4.75Bn, $5m Fraud
Tunde Ayeni and Timothy Oguntayo, former chairman and managing director respectively of Skye Bank Plc (now Polaris Bank) – – have been arraigned in relation to alleged money laundering offences…
- 25 Aug 2008
NDIC Spends N230m on Social Projects
Nigeria Deposit Insurance Corporation (NDIC) has disclosed that it has spent over N230 million as grant to tertiary institutions for the funding of Corporate Social Responsibility based projects. As…
- 22 Jul 2015
Anambra Backs E-PPAN, CBN on e-Government Summit
Anambra State Government has thrown its weight behind an e-government summit being organised by the e-payment community in Nigeria which is holding in Abuja next week. The event is being organised by…