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…
- 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…
- 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…
- 25 Feb 2020
NDIC Lists Reasons for Collapse of Nigerian Banks
Nigerian Deposit Insurance Corporation (NDIC) has listed factors responsible for collapse banks in the country including; massive insider abuses by their owners; poor corporate governance…
- 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…
- 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…
- 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…
- 3 Mar 2017
3 Million Nigerians Lost N18Bn to MMM – NDIC
The Nigerian Deposit Insurance Corporation (NDIC) has said about three million Nigerians lost N18 billion in the Phonzi scheme, popularly called Mavrodi Mundial Movement (MMM). Alhaji Umaru Ibrahim,…
- 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…
- 21 Nov 2019
Reps Ask CBN, NDIC to Verify Status of Savannah Bank
House of Representatives has mandated the Committee on Banking and Currency to interface with the Central Bank of Nigeria (CBN) and Nigerian Deposit Insurance Corporation (NDIC) to determine the…
- 3 Dec 2025
NDIC @ Kano Trade Fair, Warns Nigerians against Ponzi Schemes
Nigeria Deposit Insurance Corporation (NDIC) has cautioned Nigerians to be wary of Ponzi schemes and fraudulent investment platforms, warning that such scams continue to endanger the hard-earned…
- 11 Nov 2025
NDIC Asks Nigerians to Report Suspicious Banks, Breaches
Nigeria Deposit Insurance Corporation (NDIC) has advised Nigerians to seek clarification from the corporation on status of suspicious financial institutions and report banking-related infractions to…
- 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…
- 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…
- 2 Jun 2016
Only 2% of Nigerians Own N500, 000 and Above in Banks- NDIC
Some 90 per cent of the total deposits in Nigerian banks are owned by just two per cent of Nigerians, according to the Nigeria Deposit Insurance Corporation (NDIC). The revelation showed the economic…
- 6 Jun 2024
NDIC Vows to Recover N700Bn Loan Owed Heritage Bank
Nigerian Deposit Insurance Corporation (NDIC) on Wednesday said it would go after debtors of Heritage Bank owing the bank about N700bn. Bello Hassan, managing director of the Corporation gave the…
- 9 Jul 2014
CBN, NDIC Disagree over Banks’ Supervision
Central Bank of Nigeria (CBN), the Nigerian Deposit Insurance Corporation and other stakeholders on Monday failed to agree on who should have full control over the supervision of banks in the country…
- 29 Sept 2015
NDIC Pledges to Ensure Stability of Banks
The Nigerian Deposit Insurance Corporation (NDIC) has said it had put in place an effective Risk Based Supervision framework to enable it protect depositors against unethical practices and other…
- 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…
- 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…
- 24 Oct 2023
NDIC Urges Nigerians not to Install Apps Requesting Personal Details
Nigeria Deposit Insurance Corporation (NDIC) has urged Nigerians to avoid installation of applications (Apps) requesting for their full details as they risk being duped by Ponzi scheme fraudsters and…
- 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…
- 16 Aug 2020
Senate Pledges Support for NDIC in Protecting Depositors
The Senate Committee on Banking, Insurance and Other Financial Institutions, has pledged to support the Nigerian Deposits Insurance Corporations (NDIC) to carry out its functions more effectively.…
- 26 Sept 2024
BVN Enabled Us in Timely Payment of 85 Percent of Heritage Bank Depositors — NDIC
Mr Bello Hassan, managing director/CEO, Nigeria Deposit Insurance Corporation (NDIC), has said that the use of Bank Verification Numbers (BVN) facilitated the successful reimbursement of 84.98 per…
- 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…
- 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…
- 12 Mar 2020
NDIC Says 40 Percent of Nigerians Can’t Access Financial Services
Nigeria Deposit Insurance Corporation (NDIC) has said that 40 per cent of Nigerians do not have access to financial services. Umaru Ibrahim, managing director/CEO, NDIC, said there was need to bring…
- 9 Sept 2014
NDIC Seeks Independence of Nigerian Ecobank’s Subsidiaries
The Nigeria Deposit Insurance Corporation (NDIC) has called on Ecobank Transnational Incorporated to ensure operational independence of its Nigerian entity in order to benefit fully and consolidate…
- 15 Jun 2009
NDIC Hands over Savannah Bank’s License
The management of the Nigerian Deposit Insurance Corporation (NDIC) has formally handed over the banking license of Savannah Bank Plc. The board and management of the bank are now taking bold steps…