30 results
- 21 Aug 2019
NDIC Signs MOU with Korea Deposit Insurance Corporation
The Nigeria Deposit Insurance Corporation (NDIC) has signed a Memorandum of Understanding (MOU) with the Korea Deposit Insurance Corporation (KDIC) on a wide range of issues intended to facilitate…
- 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…
- 10 Oct 2016
NDIC to Extend Deposit Insurance Scheme to More Institutions
Nigeria Deposit Insurance Corporation (NDIC) said yesterday it would soon extend its Deposit Insurance Scheme (DIS) course to other higher institutions of learning. Mrs Christiana Efabor, NDIC’s…
- 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…
- 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…
- 26 Sept 2014
NDIC Reduces Insurance Premium for Banks
The Nigeria Deposit Insurance Corporation (NDIC) yesterday said it had approved the reduction of insurance premium paid by Deposit Money Banks from 0.5 per cent to 0.35 per cent. The new…
- 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…
- 15 Jun 2010
Insurance and Banking in Nigeria: Any Relationship?
Under the financial services sector, banks and insurance companies fall within the same tripod, alongside the capital market. As the Central Bank of Nigeria continues in its reform of the banking…
- 13 Feb 2013
Bankers’ Committee Mulls Slash in Bank Charges
Bankers’ Committee, made up of Central Bank of Nigeria (CBN); chief executives of all the Deposit Money Banks, Micro Finance Banks; and the Nigeria Deposit Insurance Corporation (NDIC) is working on…
- 8 Oct 2023
NDIC Pays 29,573 Depositors of Closed MFBs, PMBs
Mr Bello Hassan, managing director, Nigeria Deposit Insurance Corporation (NDIC), has said it has paid about N1.084 billion to 29,573 depositors of recently-closed microfinance banks and Primary…
- 27 Jan 2016
FRC Commends NDIC on Audit Compliance
The Fiscal Responsibility Commission (FRC) has commended the Management of Nigeria Deposit Insurance Corporation (NDIC) for compliance with the submission of its audited financial statements of 2007-…
- 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…
- 10 Aug 2026
FG Suspends NAICOM’s N680m Insurance Recapitalisation Fees
Federal Ministry of Finance has halted enforcement of about N680 million in disputed fees imposed by the National Insurance Commission (NAICOM) on NICON Insurance Limited and Nigeria Reinsurance…
- 29 Nov 2023
NDIC Mulls Increase of Insurance Coverage Payment to Depositors Of DMBs, MFBs, PMIs
Depositors of liquidated Deposit Money Banks ( DMBs), Primary Mortgage Institutions ( PMIs), and Microfinance Banks ( MFBs) are to, enjoy a new threshold of maximum deposit insurance coverage…
- 27 Jan 2026
NDIC Seeks EFCC's Support to Trace, Recover Assets of Failed Banks
Nigeria Deposit Insurance Corporation (NDIC) and the Economic and Financial Crimes Commission (EFCC) have agreed to strengthen collaboration to enhance the investigation and prosecution of offences…
- 4 Oct 2018
SEC Laments Number of Financially Excluded Nigerians
Securities and Exchange Commission (SEC) has lamented the non-participation of those in the grassroots in the financial sector, noting that this has affected the Gross Domestic Product (GDP) of the…
- 22 Jul 2020
NAICOM, NSC Partner On Insurance Cover
The Nigeria Shippers Council, NSC, said it is in collaboration with the National Insurance Commission (NAICOM), to reduce the cost of doing business through the introduction of insurance cover on…
- 25 Mar 2024
NDIC Reports 10 High-Profile Banking Infractions to EFCC
Nigeria Deposit Insurance Corporation (NDIC) said it has reported 10 high-profile banking infractions to the Economic and Financial Crimes Commission (EFCC) for investigations. The NDIC also said it…
- 5 Oct 2009
CBN Underpins Reform with Inter-Agency Cooperation
Central Bank of Nigeria (CBN) is to inaugurate inter-agency cooperation on the implementation of consolidated supervision for the banking sector, touted as one of the several efforts to underpin the…
- 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.…
- 18 Aug 2020
Staff, Robbers Steal N12Bn from Banks in 2017- Report
Nigeria Deposit Insurance Company (NDIC) has said that financial institutions in the country lost some N12.01 billion in 2017, representing an increase of 38 per cent increase over the N8.68 billion…
- 22 Jun 2025
Sofri Rejigs Digital Platforms for Better Customer Experience
Sofri, Powered by Links Microfinance Bank plans a massive rollout of Point of Sale, PoS terminals for merchants and agency banking in the third quarter of this year. This is coming against the…
- 11 Dec 2018
NDIC Joins Islamic Financial Services Board
The Nigeria Deposit Insurance Corporation (NDIC) has become a full member of the board of the Council of the Islamic Financial Services Board (IFSB) which has its headquarters in Kuala Lumpur,…
- 20 Apr 2017
NDIC Plans Fresh Arrest of Failed Banks’ Directors
Nigeria Deposit Insurance Corporation (NDIC) on Wednesday said the Task Force on the Implementation of the Failed Bank Act would soon begin to re-arrest for prosecution directors and officers of…
- 27 Jul 2018
NDIC Boss Advocates Qualitative Education to Check Violence, Insecurity
Umaru Ibrahim, Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), has advocated quality education as panacea to check the spate of violence and insecurity challenges…
- 25 Apr 2024
NDIC Inaugurates Anti-Corruption and Transparency Unit
Nigeria Deposit Insurance Corporation (NDIC) has inaugurated an Anti-Corruption and Transparency Unit (ACTU) at its headquarters in Abuja. Speaking at the inauguration which was conducted by…
- 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…
- 6 Nov 2019
Ibrahim, NDIC Boss Pledges Zero Tolerance for Corruption in Its Operations
The Nigeria Deposit Insurance Corporation (NDIC) as a key component of the Nigerian financial safety-net arrangement, has zero tolerance for corruption and all forms of malpractices within the…
- 25 Jan 2024
NDIC, FIRS to Spend N8.7Bn on Software Acquisition in 2024
The Nigeria Deposit Insurance Corporation (NDIC) and the Federal Inland Revenue Service (FIRS) are planning to spend a combined sum of N8.7 billion on software alone this year. This spending is…
- 3 May 2020
Buhari Replaces NAICOM Commissioner
President Muhammadu Buhari, has, approved the appointment of Sunday Thomas as the substantive commissioner for Insurance/chief executive officer, National Insurance Commission (NAICOM). His…