NDIC Pays Off 526,414 Depositors Of 17 Liquidated Banks   The Nigeria Deposit Insurance Corporation has paid off 526,414 depositors of liquidated banks, the Managing Director of the corporation, Alhaji Umaru Ibrahim, has said. He said all the depositors of the 17 defunct banks who came forward...

NDIC, Stakeholders Lament Constraints To Islamic Financing   The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, alongside stakeholders in the Islamic financing sub-sector have lamented the limited penetration and progress of non-interest financing in the country. Their concerns stemmed largely from emerging risks...

Payments To Failed Banks’ Depositors Now N116.2bn – NDIC   Nigerian Deposit Insurance Corporation (NDIC) The Nigerian Deposit Insurance Corporation (NDIC) has said it will apply more stringent supervisions of banks going forward in partnership with the Central Bank of Nigeria (CBN). This is even as...

NDIC, KOREA Counterpart Sign MOU On Deposit Insurance System 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 the robust implementation of the Deposit Insurance...

NDIC Cautions Against Adoption Of Cryptocurrencies   The Managing Director, Nigeria Deposit Insurance Corporation, Umaru Ibrahim, on Thursday called on Nigerians to exercise caution in the adoption of cryptocurrencies as their preferred mode of financial transactions. He warned that while various forms of digital currencies currently in...

NDIC Seeks Speedy Amendment Of Enabling Act   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...