30 results
- 22 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…
- 27 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…
- 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…
- 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…
- 7 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 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…
- 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…
- 7 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 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…
- 12 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,…
- 10 May 2017
Why Ponzi Schemes Thrive Despite Risks
Largely unheralded for a long time, Ponzi schemes came to the consciousness of the entire nation in 2016. With the descent of the Nigerian economy into its first full depression in over two decades,…
- 2 Mar 2021
Nigerians Lose N18Bn to Ponzi Schemes – SEC
Securities and Exchange Commission (SEC) has disclosed over three million Nigerians have lost about N18 billion to Ponzi schemes and several other illegal investment schemes. It described the…
- 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…
- 2 Apr 2026
CBN Plans New Payment Systems Vision
Central Bank of Nigeria (CBN), has said that it will be launching a new payment systems vision that will outline where the entire ecosystem is expected to be heading in the next three years. Olayemi…
- 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…
- 28 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…
- 17 Oct 2017
FCC Deploys Technology to Ensure Equal Resource Distribution
The Federal Character Commission yesterday in Abuja, inaugurated a portal that would monitor and ensure justice and fairness in the distribution of national resources across the country. At a…
- 25 Mar 2025
Senate Probes Federal Character Violations by NDIC, Others
The Senate on Tuesday deplored what it described as violations of the principles of federal character in the appointments, recruitments and promotions in some key federal institutions and agencies.…
- 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…
- 22 Sept 2014
Terragon Group Bags Digital Advertising Company of the Year Award
Terragon Group, at the Nigerian Telecom Awards, received a recognition award as ‘Digital Advertising Company of the Year’. The recognition award was presented to the company during the 10th Edition…
- 27 Oct 2014
Experts Want NIMC Act Repealed, Multi-Dimensional ID Approach
Experts at the 2014 annual lecture of the Chartered Institute of Bankers of Nigeria (CIBN) have called for a multi-dimensional approach and a review of the National Identity Management…
- 16 Aug 2018
Regulators Mull Clampdown on Accounts, GSM Phones Used for Fraud
Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) may soon introduce a scheme that will enable banks and telecommunications companies to ban owners of any bank account or…
- 20 Oct 2015
Nigeria Loses N6.2Bn to Bank Frauds, Others in 2014
About N6.2 billion was lost to cybercrimes in Nigeria in 2014, according to Ibrahim Shazali, an official of the Economic and Financial Crimes Commission (EFCC), Bank Fraud Section, He disclosed…
- 10 Aug 2015
Revealed: Rosabon Study Shows Nigeria Loan Financing Over 5 Years
In the financial sector, there has been continued improvement in performance as the reforms carried out by the Central Bank of Nigeria (CBN) to evolve dynamic financial system continued to have…
- 4 Jun 2019
SEC Directs Skye Bank Shareholders to Claim Dividend Payment
Securities and Exchange Commission (SEC) has directed shareholders of defunct Skye Bank plc to claim their dividend payment. The apex capital market regulator in its circular said, “Investors…
- 25 Jul 2019
AMCON Lists Ministers, Lawmakers among N5tn Chronic Debtors
Asset Management Corporation of Nigeria (AMCON) has said that chronic debtors of the corporation were occupying top government positions, adding that “these people are not role models” Ahmed…
- 9 Oct 2018
Ex Skye Bank Directors Panic as FG Mulls Punishment for Banking Collapse
Former directors of the defunct Skye Bank Plc are reportedly seeking for soft-landing, following a directive by federal government last week that the former bankers would be used as scapegoat to stop…
- 24 Sept 2018
Losses, Worries as Hackers Defraud Nigerians with Fake Banks' Alerts
Fake bank alerts scam is the most dangerous scheme yet and the banking industry has only a short time to get ahead of it. If technology continues its current advance, this scam may wipe the…
- 7 Jan 2021
Angst as FG Goes After N895Bn Unclaimed Dividends, Dormant Accounts’ Balances
The federal government has perfected ways to borrow funds from unclaimed dividends and dormant bank account balances unattended to for at least six years, thanks to the 2020 Finance Act, despite…
- 21 Sept 2025
LBS Described Digital Transformation in Banking, Others as Fueling Nigeria’s Economic Evolution
The Lagos Business School (LBS) has described digital transformation in banking, finance, and taxation as “an interconnected force” fuelling Nigeria’s economic evolution. The Dean, Lagos Business…