30 results
- 3 Jun 2024
NDIC Pledges to Pay Heritage Bank Customers maximum of N5m insured Deposits
Nigerian Deposit Insurance Corporation (NDIC) has revealed it will pay a maximum of N5 million to each depositor in Heritage Bank, following the bank's licence revocation. On Monday, the Central Bank…
- 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Corporation (NDIC) is considering an advance payment of insured deposits once the licence of any insured institution is withdrawn by Central Bank of Nigeria (CBN).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…
- 8 May 2022
NDIC Partners Deposit Insurance Agencies to Address Challenges
Nigeria Deposit Insurance Corporation (NDIC) says it had embarked on collaboration and cooperation with other deposit insurance agencies globally to address the challenges facing the insurance…
- 16 Jul 2014
NDIC Clarifies Position on Liquidation of Insurance Firms
The Nigeria Deposit Insurance Corporation (NDIC) has denied some newspaper reports that the Corporation was seeking powers to liquidate insurance companies and (or) terminate the insurance…
- 3 Oct 2025
NDIC Covers 99 Percent of Commercial Banks’ Deposits – MD
Nigeria Deposit Insurance Corporation (NDIC) currently provides full insurance cover for 98.98 percent of Deposit Money Banks’ total deposits, according to Mr. Thompson Sunday, managing director of…
- 20 Oct 2021
NDIC Begins Review of Deposit Premium Payment for Banks
Nigeria Deposit Insurance Corporation (NDIC) has commenced the process of reviewing deposit insurance premiums for Nigerian banks. According to NDIC, the move is part of efforts to be able to…
- 12 Feb 2026
NDIC Moves to Boost Customers’ Confidence in Nigerian Banks
The Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its commitment to safeguarding the nation’s financial system, announcing that its recent upward review of the maximum deposit insurance…
- 18 Aug 2008
Ogunleye, NDIC Boss Commends DIS in Banking
Nigeria Deposit Insurance Corporation (NDIC), has said that functional Deposit Insurance Scheme (DIS) as a essential instrument of generating depositors’ confidence in the banking system as…
- 29 Jun 2026
NDIC Says 281m Depositors Protected against Bank Failure
Nigeria Deposit Insurance Corporation (NDIC) has said more than 281 million depositors across the country’s banking system are protected against bank failure, following reforms that significantly…
- 27 Mar 2026
NDIC Insures 99 Percent of Bank Customers
Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its commitment to protecting depositors and sustaining confidence in the nation’s banking system, declaring that its insurance framework…
- 16 Nov 2014
NDIC Assures Banks’ Customers Safety of their Deposit
Nigeria Deposit Insurance Corporation (NDIC) said its safety net coverage has reached 98 per cent of the customers of the Deposit Money Banks (DMBs). Besides, it gave assurance that it has no course…
- 12 Jun 2022
NDIC Says Banks Stable despite COVID-19 Challenges
Mr Bello Hassan, managing director/chief executive, Nigeria Deposit Insurance Corporation (NDIC), has said that Nigerian banks maintained stability despite challenges brought about by the COVID-19…
- 26 Nov 2017
FG Lists Dangers of Digital Currencies as Bitcoin Hits $8,000
Nigerian Deposit Insurance Corporation (NDIC), the country’s financial sector insurance regulator, has again warned Nigerians against the risk of trading with digital currencies not issued by the…
- 29 Oct 2024
Senate Passes NDIC Bill To Stabilise Financial Institutions
The Senate on Tuesday passed for third and final reading, a bill meant to strengthen the capacity of the Nigeria Deposit Insurance Corporation (NDIC)’s capacity to safeguard bank depositors’ funds,…
- 20 Feb 2025
Depositors Funds Safe in Nigerian Banks- NDIC
Bello Hassan, managing director, Nigeria Deposit Insurance Corporation (NDIC), has said that with strict regulations put in place by the agency, depositors need not worry about the safety of their…
- 5 Apr 2019
NDIC Recovers N29Bn from Debtors of Failed Banks
Nigeria Deposit Insurance Corporation (NDIC) said it has so far recovered N29bn from debtors of liquidated deposit money banks, microfinance banks and primary mortgage banks in the country. …
- 8 Feb 2023
NDIC Reiterates Commitment to Protecting Mfbs Customers
Mr. Bello Hassan, the Managing Director/ Chief Executive Officer, Nigeria Deposit Insurance Corporation (NDIC), has said the corporation is working assiduously to ensure more Microfinance Banks…
- 21 Jul 2026
Senate Passes Landmark Insurance Reform Bill, Replaces 1997 NAICOM Act
The Senate yesterday recorded two major milestones in Nigeria’s financial sector, passing a landmark Insurance Regulatory Commission Bill to replace the nearly three-decade-old National Insurance…
- 18 Dec 2023
NDIC Pays N1.7Bn to over 42,000 Customers of Failed Banks
Nigeria Deposit Insurance Corporation (NDIC) has paid N1.7 billion to over 42,000 customers of failed banks, according to Bello Hassan, managing director/CEO of the corporation. Hassan stated this…
- 19 Jul 2026
NDIC Urges Youths to Shun Ponzi Schemes, Embrace Savings
Nigeria Deposit Insurance Corporation (NDIC) has urged youths to shun investment scams and embrace the habit of saving. NDIC said that for a nation to be prosperous, its citizens must learn to build…
- 28 Sept 2020
CIBN Recertifies NDIC Academy as Bankers Training Provider
Council of the Chartered Institute of Bankers of Nigeria (CIBN) has recertified the Nigeria Deposit Insurance Corporation (NDIC) Academy as a training service provider for various professionals in…
- 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…
- 7 Apr 2019
NDIC Saves 6,000 Jobs in Defunct Skye Bank
The Nigeria Deposit Insurance Corporation (NDIC) has said the corporation was able to save 6,000 workers from being dismissed from defunct Skye bank (now Polaris) as a result of poor handling of the…
- 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…
- 5 Oct 2021
NDIC Warns Bank Customers to be Careful of Ponzi Schemes
The Nigeria Deposit Insurance Corporation (NDIC) has warned bank depositors against falling into Ponzi schemes’ traps due to promises of very high returns in. Mr. Bello Hassan, Managing Director (MD)…
- 15 May 2025
Why and How Banks Fail in Nigeria by CIoD Chair
Tijjani Borodo, chairman, Chartered Institute of Directors (CIoD) Nigeria, has blamed bank failures on poor corporate governance, but commended the Nigeria Deposit Insurance Corporation (NDIC) for…
- 24 May 2018
NDIC Emerges First Public Organization to be Awarded Three ISO Certifications
The Nigeria Deposit Insurance Corporation (NDIC) has become the first public sector organization in Nigeria to be awarded three International Standards Organization (ISO) certifications by the…
- 2 Oct 2018
NDIC Paid N11.5bn to Depositors of Financial Institutions in 2017
Umaru Ibrahim, Managing Director and Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), has revealed that about N11.50 billion has been paid to financial institutions. The payment, he…
- 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
NDIC Pledges to Ensure Stability of Banks
The Nigerian Deposit Insurance Corporation (NDIC) has said it had put in place an effective Risk Based Supervision framework to enable it protect depositors against unethical practices and other…