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…
- 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Corporation (NDIC) is considering an advance payment of insured deposits once the licence of any insured institution is withdrawn by Central Bank of Nigeria (CBN).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…
- 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…
- 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…
- 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…
- 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…
- 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…
- 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…
- 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…
- 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…
- 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…
- 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 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…
- 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…
- 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,…
- 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…
- 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,…
- 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…
- 16 Jan 2016
NDIC Develops Framework for Non-Interest Deposit Insurance Scheme
Following the successful take off of the non interest banking in Nigeria that is currently being undertaken by Ja’iz Bank and also by Stanbic IBTC and Sterling Banks, the Nigeria Deposit 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…
- 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 Jul 2014
NDIC, Poland Sign MoU on Capacity Building
The Nigeria Deposit Insurance Corporation (NDIC) said it had signed a Memorandum of Understanding with Bank Guarantee Fund of Poland to promote capacity building on deposit insurance law 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…
- 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…
- 24 Jul 2015
World Bank Commends NDIC for Robust Target Funding
The World Bank has commended Nigeria Deposit Insurance Corporation (NDIC) for its robust Target Fund Ratio Framework which enables the Corporation to meet its obligation to depositors. Headed by Mr…
- 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…
- 11 Aug 2024
NDIC Pays N5m Each to Customers of Defunct Heritage Bank
Nigeria Deposit Insurance Corporation (NDIC) has said that it has successfully disbursed insured deposits of up to ₦5 million each to 82.36% of customers of the now-defunct Heritage Bank, following…
- 3 Dec 2013
Depositors Abandon Funds Trapped in Failed Banks
Nigeria Deposit Insurance Corporation (NDIC) has lamented the low level of turn out by depositors of failed banks to collect their insured deposits. Prince Aghatise Erediauwa, executive director,…
- 31 Dec 2025
NDIC Reinforces Full Oversight Compliance to Safeguard Depositors
Mr. Thompson Sunday, the Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), has reaffirmed the Corporation’s strict compliance with fiscal and financial…