NDIC: Nigeria'll Monitor Digital Currency Risks   The Nigeria Deposit Insurance Corporation has said Nigeria is interested in developing a digital currency but will monitor the risks associated with it. The Deputy Director, Research Department, NDIC, Kabir Katata, stated this while speaking on the ‘evolution of virtual...

10 Banks Responsible For 87% Of Banking Sector Fraud, Says NDIC   Ten Deposit Money Banks accounted for about 87.63 per cent of fraud and forgeries that occurred in the banking sector in the 2017 fiscal period. This is contained in the 2017 annual report of the...

Defunct Skye Bank's Directors Quizzed For Insider Abuse, Others   The Nigeria Deposit Insurance Corporation and the Central Bank of Nigeria are monitoring the investigations by law enforcement agencies against the directors and management of the failed Skye Bank Plc. The move is to determine their culpability...

NDIC Boss Identifies Public Misconception As Key Challenge Of Deposit Insurance   Public misconception of the basic principles of Deposit Insurance System (DIS) remains one of the major challenges confronting the Nigeria Deposit Insurance Corporation (NDIC), the corporation’s MD/CEO, Alhaji Umaru Ibrahim, has said. Speaking yesterday at...

NDIC Recovers N28bn Debt, Pays Insured Depositors Of Failed Banks N11.50bn   The Managing Director and Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim yesterday said a total of N11.50 billion had been paid to depositors, creditors, shareholders and other stakeholders of closed financial...

CBN Gets 21-Day Ultimatum on Sacked Diamond Bank Staff The House of Representatives Committee on Public Petitions chaired by Rep. Nkem Abonta has given a final 21 days ultimatum to Central Bank of Nigeria (CBN) to declare its position on the case of staff members...