Tag Archives: NDIC

The Nigeria Deposit Insurance Corporation has said that bank managers and supervisors were involved in no fewer than 119 fraud and forgery cases in banks which led to the loss of N15.15bn in 2018.

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The banking industry lost N15.15 billion to cases of fraud last year, indicating an increase of 539 per cent when compared to the N2.37 billion lost in 2017.

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The Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC) Umaru Ibrahim has advised Nigerians to exercise maximum caution in the adoption of crypto-currencies as their preferred mode of financial transactions.

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The Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has appealed to the 9th Senate of the Federal Republic for the speedy passage of the NDIC Act, 2006 (as amended) currently before the National Assembly.

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In the unlikely event of closure of licensed banks in 2019, the Nigerian Deposit Insurance Corporation (NDIC) said it has set aside a total sum of N258.767 billion in the fiscal year for the reimbursement of depositors.

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Members of the newly inaugurated Board of the Nigeria Deposit Insurance Corporation (NDIC) have stated their commitment to the formulation of sound policies to enhance the safety and stability of the nation’s financial system as a way of justifying the confidence reposed in them through their appointment. The Chairman, Mrs Ronke Shokefun stated this at the opening ceremony of the …

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The Council of the Islamic Financial Services Board (IFSB) which has its headquarters in Kuala Lumpur, Malaysia, has admitted the Nigeria Deposit Insurance Corporation (NDIC) as a full member of the board. This was made known in a statement issued by Mohammed Kudu Ibrahim, head, Communications And Public Affairs, NDIC. “The NDIC joins the Central Bank of Nigeria (CBN) as …

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The Senate Committee on Banking, Insurance and Other Financial Institutions has expresseda strong Commitment for the accelerated amendment of the Nigeria Deposit Insurance Corporation (NDIC) Act, 2006, so as to eliminate the gaps that have hindered the full realisation of the public policy objectives of the implementation of the Deposit Insurance System (DIS) in Nigeria. This was made known in …

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The Nigeria Deposit Insurance Corporation (NDIC) has been declared the best performing public sector institution in Nigeria on compliance with Information Technology Clearance Regulation after a rigorous selection process in Nigeria. The award was conferred on the Corporation by the Nigeria Technology Development Agency (NITDA), which is the promoter of IT regulation and development in Nigeria. It instituted the awards …

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The Nigeria Deposit Insurance Corporation (NDIC) has said it will provide 100 per cent cover for verified depositors’ claims depositors in failed 154 Microfinance Banks (MfBs). The licences of the banks were revoked by the Central Bank of Nigeria (CBN) last month. It said from record obtained, majority of the depositors especially in the MfBs have less than N200,000 in …

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