30 results
- 4 Jun 2025
NDIC Calls for Inputs to IADI Core Principles for Effective Deposit Insurance
Nigeria Deposit Insurance Corporation (NDIC) has called for comments from financial services industry stakeholders in the country, policy makers and the general public towards the ongoing revision of…
- 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Corporation (NDIC) is considering an advance payment of insured deposits once the licence of any insured institution is withdrawn by Central Bank of Nigeria (CBN).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…
- 6 Aug 2026
We have Multiple Layers of Protection for 281m Accounts in Nigeria - NDIC
Nigeria Deposit Insurance Corporation (NDIC) has reassured on the multiple layers of protection for the Nigerian banking industry with more than 98 per cent of depositors and 281 million accounts…
- 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…
- 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…
- 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…
- 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…
- 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…
- 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…
- 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…
- 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…
- 2 May 2024
NDIC Increases Deposits Coverage Levels for Financial Institutions
The Nigeria Deposit Insurance Corporation (NDIC) Thursday announced increase in the maximum deposit insurance coverage levels for all licensed deposit-taking financial institutions with immediate…
- 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…
- 9 Feb 2026
NDIC Says No Customer Loses Deposits in Failed Banks
Nigeria Insurance Deposit Corporation (NDIC) has guaranteed customers of insured commercial banks prompt recovery of their deposits in the event of risk liability or liquidation. In addition, the…
- 29 Sept 2014
NDIC to Increase Deposit Cover for Mortgage Banks
The Nigeria Deposit Insurance Corporation (NDIC) has unveiled plans to increase the deposit insurance coverage for customers of Primary Mortgage Banks operating in the country. Alh. Umaru Ibrahim,…
- 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…
- 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 Sept 2018
NDIC Seeks Sound Corporate Governance in Banking Sector
Nigeria Deposit Insurance Corporation (NDIC) has emphasised the need for effective collaboration between regulators and operators in the banking system for the establishment of sound ethics and…
- 5 Jun 2014
NDIC Begins Verification, Payment of Insured Depositors
Nigeria Deposit Insurance Corporation (NDIC) has commenced verification and payment of insured depositors in 33 of the 83 Micro-Finance Banks whose licences were revoked in December 2013. This…
- 25 Sept 2018
NDIC Hosts IADI Africa Regional Committee Workshop
The Nigeria Deposit Insurance Corporation (NDIC) is hosting the International Association of Deposit Insurers (IADI) Africa Regional Committee (ARC) Annual General Meeting and Technical Assistance…
- 2 Aug 2022
NDIC Warns Nigerians Over Investing in Fund Managers
The Nigeria Deposit Insurance Corporation has said it does not insure investment with fund managers. Bashir Nuhu, Director, Communication & Public Affairs Department, NDIC, stated this in a…
- 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…
- 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…
- 22 Jul 2026
NDIC Begins Payment to Depositors of 46 Failed Microfinance Banks
Nigeria Deposit Insurance Corporation (NDIC) has begun paying insured deposits to customers of the 46 recently failed microfinance banks. Mr Thompson Sunday, managing director and chief executive,…
- 23 May 2023
Closed Banks: NDIC Assures Depositors of Prompt Payment
Nigeria Deposit Insurance Corporation (NDIC) has assured depositors of Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs) whose licenses were revoked by the Central Bank of Nigeria (CBN)…
- 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…
- 11 Aug 2022
All Banks Safe and Sound —NDIC
Bello Hassan, managing director, Nigeria Deposit Insurance Corporation (NDIC) has said that all Deposit Money Banks (DMBs) in Nigeria, including Polaris Bank are safe and sound. Hassan made the…
- 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.…
- 10 Dec 2019
No Signs of Distress in Nigerian Banks – NDIC
Nigeria Deposit Insurance Corporation (NDIC) on Tuesday said the country’s banks remain stable in spite of a negative rating on Nigeria by global credit rating agency, Moody’s. Abdulhameed Aliu, NDIC…