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...

After PRNigeria Report, Chairman Says 'Cabal Has Taken Over NDIC'   Less than 24 hours after an exclusive report by PRNigeria on a controversy trailing the appointment of the Board of the Nigeria Deposit Insurance Corporation (NDIC), its chairman, Dr AbdulHakeem Mobolaji Abdullateef, has cried out...

FG Inaugurates NDIC Board, Charges Members on Service Delivery  By Zeenat Sambo The Minister of Finance, Budget and National Planning, Zainab Ahmed, has charged the new Board of Directors of the Nigeria Deposit Insurance Corporation (NDIC) to support policies and programmes of the management that are...

NDIC to Refund Customers, Sell Closed Banks’ Assets The Nigeria Deposit Insurance Corporation has assured depositors of the closed banks of speedy payment of their insured sums, following the revocation of licences of 179 microfinance banks and four Primary Mortgage Banks by the Central Bank...