NDIC

The Nigeria Deposit Insurance Corporation (NDIC) has urged Nigerians to move more of their funds into the formal banking system, adding that the revised insurance limit, which now fully covers 98.98 per cent of depositors in Nigerian deposit money banks, was aimed at deepening public confidence in the banking system.

The warning was issued by NDIC’s Head of Legal Unit, Oladipo Kushimo, during a breakout session titled “Too Big to Fail?” at the Nigerian Bar Association’s Annual General Conference in Port Harcourt.

July 5 (THEWILL) — The Nigeria Deposit Insurance Corporation (NDIC), has been appointed as the official Liquidator of the 46 Microfinance Banks (MfBs) whose licences were revoked on July 1, 2026, by the Central Bank of Nigeria (CBN). The...

April 19, (THEWILL) — The Nigeria Deposit Insurance Corporation (NDIC) has commenced the final phase of winding down 89 defunct Microfinance Banks (MFBs) and one Primary Mortgage Bank (PMB), following their successful resolution under the Purchase and Assumption (P&A)...

February 12, (THEWILL) — The Nigeria Deposit Insurance Corporation (NDIC) has moved to intensify efforts to recover about ₦1.5 trillion owed by debtors to failed banks and Microfinance institutions by empowering and repositioning its network of debt recovery...

February 01, (THEWILL) — A crucial factor for the success of the current bank recapitalisation is the ability of the Nigeria Deposit Insurance Corporation (NDIC) to safeguard depositors and enhance the stability of the banking system, in accordance with...

January 12, (THEWILL) — The Nigeria Deposit Insurance Corporation (NDIC) has approved a second liquidation dividend of ₦24.3 billion for depositors of the defunct Heritage Bank Plc, whose balances exceeded the ₦5 million insured limit. The payout follows the revocation...

January 04, (THEWILL) — The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday, has reaffirmed the Corporation’s strict compliance with fiscal and financial regulations, including the provisions of the Fiscal Responsibility Act (FRA)...

December 31, (THEWILL) — The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation, Mr Thompson Sunday, has drawn attention to the fact that the Federal Government’s 50 per cent cost-to-income ratio policy is limiting the corporation’s ability to...

December 24, (THEWILL) — The Nigeria Deposit Insurance Corporation (NDIC) has entered into a strategic partnership with the Nigeria Inter-Bank Settlement System (NIBSS) to accelerate the reimbursement of depositors in the event of bank failures. The collaboration is aimed...