UPDATE: NDIC Completes 84.98% Payment to Depositors of Defunct Heritage Bank The Nigeria Deposit Insurance Corporation (NDIC) said it has paid 84.98 per cent of the depositors whose funds are trapped in liquidity to the Heritage Bank. The CBN announced the revocation of the licence of...

CBN, NDIC, Others to Discuss Bank Recapitalisation at Summit The Nigeria Deposit Insurance Corporation (NDIC) the Central Bank of Nigeria (CBN) the Bank of Industry (BoI) the United Bank for Africa, Access Holdings Plc, and other financial institutions will be discussing the impact of the...

CBN,NDIC, SEC Partner To Simplify Bank Recapitalisation The Central Bank of Nigeria (CBN) the Securities and Exchange Commission (SEC) and the Nigeria Deposit Insurance Corporation (NDIC) have joined forces to streamline the bank recapitalisation process, aiming to enhance efficiency and transparency within the financial sector. In...

Heritage Bank: 17.6% of Deposits Unpaid Due to Verification Issues The Nigeria Deposit Insurance Corporation (NDIC) has disclosed that 17.6 per cent of Heritage Bank depositors had yet to receive payments, following the bank’s liquidation. The corporation, in a statement by its spokesperson, Bashir Nuhu, on...

After License Revocation NDIC Commences Liquidation of Heritage Bank The Nigeria Deposit Insurance Corporation (NDIC) on Monday said it commenced the liquidation of Heritage Bank Plc, following the revocation of the banking license of the Bank by the Central Bank of Nigeria (CBN) on Monday,...

NDIC Increases Maximum Deposit Insurance Coverage From N500k to N5m   The Nigeria Deposit Insurance Corporation (NDIC) has increased the maximum deposit insurance coverage levels for Deposit Money Banks from N500,000 to N5 million. The Managing Director of NDIC, Bello Hassan, announced this in Abuja at a...