The Managing Director, Nigerian Deposit Insurance Corporation, Alhaji Umaru Ibrahim, has said the agency had paid ₦105bn to 442,615 depositors of closed Deposit Money Banks end of September 2017. Similarly, the corporation paid a cumulative sum of ₦2.88bn to 525,009 depositors of closed microfinance banks as well as ₦60m to 756 depositors of closed Primary […]
Read More The Nigeria Deposit Insurance Corporation (NDIC) has called on commercial banks and other businesses that left the North East in the wake of Boko Haram insurgency to ensure businessmen and women in the region have easier access to funds. This is even as only 25 per cent of adults out of the estimated population of […]
Read More The Nigeria Deposit Insurance Corporation (NDIC) on Thursday expressed commitment to reduce the percentage of Nigerians that do not have access to financial services from 46.3 per cent to 20 per cent by 2020. Alhaji Umaru Ibrahim, the Managing Director, NDIC said this at the ongoing Lagos International Trade Fair (LITF) in Lagos. Represented by […]
Read More The Nigeria Deposit Insurance Corporation (NDIC) has been conferred with the Special Recognition and Commendation Award for Excellence in Banking (Public Service) at the weekend in Lagos. In a letter of commendation to the corporation, the awards committee stated that the NDIC was adjudged as “an outstanding public service provider” with sterling performance which stood […]
Read More Commercial banks in Nigeria lost ₦8.68 billion to frauds, forgeries and outright theft, the Nigerian Deposit Insurance Corporation (NDIC) disclosed yesterday. The figure, according to the Managing Director, Umaru Ibrahim, was 48.12 per cent lower than the ₦18.02 billion recorded in 2015. The NDIC boss made the disclosure while delivering a lecture titled: “The Role […]
Read More The Nigeria Deposit Insurance Corporation (NDIC) has secured a landmark judgement to the tune of ₦556,493,034.16 (Five Hundred and Fifty-Six Million, Four Hundred and Ninety-Three Thousand, Thirty-Four Naira and Sixteen Kobo Only) in favour of depositors of Lead Merchant Bank Limited (in-liquidation). The judgement was recently delivered by Honourable Justice Ibrahim N. Buba of Federal […]
Read More The Nigeria Deposit Insurance Corporation (NDIC) is set to lead the African Sub-Region in enhancing capacity building and bridging skills gaps in the banking industry in general and the Deposit Insurance Scheme (DIS) in particular. The NDIC’s Managing Director/Chief Executive, Alh. Umaru Ibrahim made this remark during the accreditation ceremony of the NDIC Academy as […]
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The Nigerian business community has been advised to discountenance rumours making the round that some banks in the country are distressed. The Managing Director and Chief executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, who gave the advice recently called on members of the public to ignore rumours being circulated on the failing health […]
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The Central Bank of Nigeria (CBN) and the National Deposit Insurance Corporation (NDIC), are currently locked in a battle about who should mandatorily hold in trust customers dormant accounts in money deposit banks in the country. At a public hearing by the House of Representatives on amendment of the Banks and Other Financial Institutions Act […]
Read More Bank directors owe commercial banks N740 billion, representing 40 per cent of N18.3 trillion non-performing loans in the banking industry, NDIC Managing Director/Chief Executive Umaru Ibrahim has said. He said the debt constituted insider/directors related loans and was far above regulatory threshold of five per cent for commercial banks. The NDIC boss raised alarm over […]
Read More Bamidele Akindele The Nigeria Deposit Insurance Corporation (NDIC) has been granted approval for an upward review of its maximum deposit insurance coverage (MDIC) from N200,000 to N500,000 per depositor for primary mortgage banks (PMBs) and the extension of di’erential premium assessment system (DPAS) to the PMBs. Minister of Finance, Mrs. Kemi Adeosun granted the approval […]
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