{"id":70548,"date":"2023-03-30T21:43:14","date_gmt":"2023-03-30T20:43:14","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=70548"},"modified":"2023-03-30T21:43:20","modified_gmt":"2023-03-30T20:43:20","slug":"formal-banking-system-remains-safest-smartest-and-most-prudent-place-to-save-in-nigeria-ndic-md-advice","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/formal-banking-system-remains-safest-smartest-and-most-prudent-place-to-save-in-nigeria-ndic-md-advice\/","title":{"rendered":"Formal Banking System Remains Safest, Smartest And Most Prudent Place To Save In Nigeria — NDIC MD Advice"},"content":{"rendered":"

Barring any economic upheavals, the Managing Director, Nigerian Deposit Insurance Corporation (NDIC), Bello Hassan, has said that formal banking system, remains the safest, smartest and most prudent place to save and the only way through which the corporation can protect bank deposits.<\/p>\n

The NDIC, Boss made this remark on Thursday during the Corporation\u2019s Special Day at the 34th edition of the Enugu International Trade Fair.<\/p>\n

\"\"Hassan said that the fair\u2019s theme: \u2018Harnessing Nigerian Human Capital Resources for Global Economic Advancement\u2019 speaks volumes about how the Enugu Chamber of Commerce, Industry Mines and Agriculture\u2019s programmes and vision match with the government\u2019s priorities in this regard.<\/p>\n

He explained that the corporation protects depositors through the discharge of its mandate in four critical ways namely: by guaranteeing deposits in banks; by supervising the banks in conjunction with the Central Bank of Nigeria (CBN) to ensure that they are run in safe and efficient manner in line with extant laws and regulations; by resolving issues of distress in banks to reduce instances of failure; and by ensuring orderly and efficient liquidation of failed banks to prevent disruptions to the payment system.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

He explained that the corporation adopted participation in the Enugu International Trade Fair over the years, as a platform for continuous sensitization of depositors, and the general public on the existence of the Deposit Insurance Scheme (DIS), its advantages and its limitations.<\/p>\n

\u201cThis is significant to us as it will enhance public confidence in the financial system,\u201d he said. \u201cWe want the general public to know, and reflect always, that their deposits are safe and that in the unusual event of a bank failure, a government agency, the NDIC is here to protect the depositors, especially the small savers.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Barring any economic upheavals, the Managing Director, Nigerian Deposit Insurance Corporation (NDIC), Bello Hassan, has said that formal banking system, remains the safest, smartest and most prudent place to save and the only way through which the corporation can protect bank deposits.\u00a0<\/p>\n","protected":false},"author":6,"featured_media":50323,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[818],"coauthors":[2391],"class_list":["post-70548","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-ndic"],"yoast_head":"\nFormal Banking System Remains Safest, Smartest And Most Prudent Place To Save In Nigeria - NDIC MD Advice - National Wire<\/title>\n<meta name=\"description\" content=\"Barring any economic upheavals, the Managing Director, Nigerian Deposit Insurance Corporation (NDIC), Bello\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/formal-banking-system-remains-safest-smartest-and-most-prudent-place-to-save-in-nigeria-ndic-md-advice\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Formal Banking System Remains Safest, Smartest And Most Prudent Place To Save In Nigeria - NDIC MD Advice - National Wire\" \/>\n<meta property=\"og:description\" content=\"Barring any economic upheavals, the Managing Director, Nigerian Deposit Insurance Corporation (NDIC), Bello\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/formal-banking-system-remains-safest-smartest-and-most-prudent-place-to-save-in-nigeria-ndic-md-advice\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-30T20:43:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-30T20:43:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/07\/IMG-20210707-WA0020.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"420\" \/>\n\t<meta property=\"og:image:height\" content=\"540\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/formal-banking-system-remains-safest-smartest-and-most-prudent-place-to-save-in-nigeria-ndic-md-advice\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/07\/IMG-20210707-WA0020.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2021\/07\/IMG-20210707-WA0020.jpg\",\"width\":420,\"height\":540},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/formal-banking-system-remains-safest-smartest-and-most-prudent-place-to-save-in-nigeria-ndic-md-advice\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/formal-banking-system-remains-safest-smartest-and-most-prudent-place-to-save-in-nigeria-ndic-md-advice\/\",\"name\":\"Formal Banking System Remains Safest, Smartest And Most Prudent Place To Save In Nigeria - 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