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Corporation (NDIC) is considering an advance payment of insured deposits once the licence of any insured institution is withdrawn by Central Bank of Nigeria (CBN).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…
- 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…
- 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…
- 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 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…
- 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…
- 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…
- 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…
- 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…
- 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. …
- 21 Aug 2013
Cases of Banks’ Frauds on the Rise-NDIC
Nigeria Deposit Insurance Corporation (NDIC) yesterday released its 2012 report and statement of accounts, which showed that banks in the country reported a total of 3,380 cases of frauds involving a…
- 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…
- 5 Jun 2024
Heritage Bank: Step-to-Step Process to Reclaim Funds as NDIC Pledges to Pay Customers within one Week
Nigerian Deposit Insurance Corporation (NDIC) has assured depositors of Heritage Bank it will pay their deposits within one week. Bello Hassan, Managing Director of NDIC, stated this at a briefing…
- 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…
- 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…
- 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…
- 29 May 2018
NDIC Bags Three ISO Certifications
Nigeria Deposit Insurance Corporation (NDIC) was recently awarded three International Standards Organisation (ISO) certifications by the British Standards Institute (BSI) simultaneously. At a…
- 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…
- 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…
- 27 Aug 2024
NDIC Plans to Liquidate 87 Microfinance Banks, Others
Nigerian Deposit Insurance Corporation (NDIC) will at the expiration of its notice released on August 23, 2024, approach a federal high court to grant the order to dissolve 87 microfinance banks and…
- 29 Sept 2013
NDIC to Prosecute Failed MFB Bosses
Nigerian Deposit Insurance Corporation (NDIC) has said chieftains of failed Micro Finance Banks (MFB) whose cases had been fully investigated and those found to have violated the existing policy…
- 3 Jul 2014
NDIC Warns Bank Examiners against Unethical Practices
Alh Umaru Ibrahim, managing director, Nigeria Deposit Insurance Corporation (NDIC) yesterday warned its banks examiners against unethical practices, noting that the corporation would not condone any…
- 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…
- 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…
- 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…