NDIC Calls For Collaboration With IoD To Address Corporate Governance Challenges In Banks

The Managing Director / Chief Executive of Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim has identified the critical role the Institute of Directors (IoD) could play towards addressing the poor corporate governance practices that have posed a significant risk to the safety and stability of the Nigerian banking sector. Ibrahim made the remarks while receiving […]


NDIC Gets ISO Certification

The Nigeria Deposit Insurance Corporation (NDIC) has successfully  obtained three certifications from the British Standards Institution (BSI) for Information Security Management System ISO/IEC 27001:2013, IT Service Management System ISO/IEC 20000-1:2011 and Business Continuity Management System, ISO 22301:2012 after a rigorous process of satisfying the conditions precedent to accreditation. According to a statement from the corporation, the British Standards […]

NDIC Calls For Restoration Of Banking Services In North East

The Nigeria Deposit Insurance Corporation (NDIC) has called for restoration of banking services to the North Eastern zone of the country. Managing Director/Chief Chief Executive, NDIC Alhaji   Umaru Ibrahim made this call in Kano at   the corporation’s annual workshop for Business Editors and Finance   Correspondents   Association of Nigeria, tagged: “The role of Nigerian banking sector: […]

Companies Fake Poor Operating Positions To Seek Delisting…SEC

…As Commission Put Strigent Measure in Place To Check Further Abuse …Encourages Youth To Imbibe Saving Culture The Securities and Exchange Commission (SEC), has disclosed that listed companies have been found to fake operating positions to get regulatory approval to delist from the equities market. The Commission said to further checkmate such scenario from playing-up […]

Trading on NSE Regains’ Momentum With Market Indicators Rising 0.25% … Again Unilever Nigeria Top Profit Table   

Transaction on the floor of the Nigerian Stock Exchange (NSE) Friday, witnessed a turnaround from the decrease on Thursday as key market indicators regains its momentums with 0.25 increase, bringing the year to date return to 42.14 percent. However, Unilever Nigeria Plc that is currently seeking over N58 Billion from existing shareholders through right issue, […]

NDIC Secures Judgement In Favour of Lead Merchant Bank Customers

The Nigeria Deposit Insurance Corporation (NDIC) has secured a landmark judgement to the tune of N556,493,034.16 (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. According to a statement which was made available to Financial Edge on Wednesday, […]

No Nigerian Bank Is Near Distress, NDIC Says

Every Nigerian bank is currently healthy and on sound footing, the Managing Director, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, has indicated,. The NDIC Boss stated this on Thursday, reassuring members of the public to ignore rumours being circulated that some banks were in financial distress. NDIC position was made public in a statement […]

2017 Budget Defence: House Committee Applauds NDIC Performance

The House ofRepresentatives Committee on Insurance and Actuarial Matter has commended the NigerianDeposit Insurance Corporation (NDIC) during the presentation of 2017 budgetdefence, as part of the committee oversight function. The Managing Director/Chief Executive Alhaji Umaru Ibrahim successfully defended theCorporation’s proposed 2017 budget began by calling the attention of theHonourable members to the delay in the […]