As promoters of wonder banks and other ponzi schemes in the country continue to lure members of the public to mouthwatering offers, the Nigeria Deposit Insurance Corporation (NDIC) has warned members of the public not to patronise such investment schemes. The MMM investment scheme is...

The Senate Committee on Banking, Insurance and Other Financial Institutions has commended the Nigeria Deposit Insurance Corporation (NDIC) for its prompt and regular remittance of its operating surplus into the Consolidated Revenue Fund (CRF) in line with the provision of the Fiscal Responsibility Act...

The Coordinator of the Financial System Strategy 2020, Mr Mohammed Suleiman, has said that limited funding for the programme, meant to make Nigeria a financial hub by 2020, was affecting its implementation. He also listed inadequate skills in the financial market, low-cooperation among regulators, low level...

Approval has been granted the Nigeria Deposit Insurance Corporation (NDIC) for an upward review of its maximum deposit insurance coverage (MDIC) from N200,000 to N500,000 per depositor for primary mortgage banks (PMBs) and the extension of differential premium assessment system (DPAS) to the PMBs. Finance...

The Managing Director/Chief Executive of Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim has expressed concern over the increasing wave of non-performing insider loans in various banks and its consequence on the stability of the nation’s banking system. Alhaji Ibrahim expressed this concern while receiving...

As a major indicator of wealth distribution in Nigeria across income groups, a mere two per cent of Nigerians own 90 per cent of total deposits in Nigerian banks. This represents the wide gap between the rich and the poor in Nigeria, which continues to...