CBN’s N500bn Recapitalisation in Line with Global Economic Dynamic – NDIC The Nigeria Deposit Insurance Corporation (NDIC) has said the new Central Bank of Nigeria (CBN) policy which pegs the minimum capital for commercial banks at N500 billion was in line with current global economic...

The NDIC And Recapitalisation Of Banks, by Salisu Na'inna Dambatta   The ongoing CBN-inspired recapitalisation for banks has serious implications for the banking sector, the equity capital market and the Nigeria Deposit Insurance Corporation of Nigeria (NDIC). While the banking sector may become stronger with deeper capital...

We Refunded N1.2bn to Depositors of Liquidated MfBs - NDIC   The Nigeria Deposit Insurance Corporation (NDIC) has said it has refunded more depositors of microfinance banks whose licences were recently revoked by the Central Bank of Nigeria. It said currently, it had refunded N1.2bn to about...

NDIC Begins N16bn Dividends Payment to 20 Defunct Bank Depositors The Nigeria Deposit Insurance Corporation (NDIC) has announced the declaration of N16.18 billion liquidation dividends to depositors, creditors, and shareholders of 20 banks in liquidation. In a statement issued yesterday by the Director, Communications and Public...

Can NDIC Alone Tackle Ponzi Scammers? by Salisu Na'inna Dambatta   Promoters of Ponzi Schemes scams are aggrevating poverty in the country. They do this by swindling Nigerians of huge amounts of money. A Ponzi scheme is defined as "an investment fraud that pays existing investors with...

NDIC to Probe Directors of Failed Banks for fraud, Malpractices The Nigeria Deposit Insurance Corporation has disclosed plans to probe directors of some failed banks in the country. The Managing Director, NDIC, Mr Bello Hassan, said this during a capacity building workshop for law enforcement agencies...