The Nigeria Deposit Insurance Corporation (NDIC) has increased the maximum deposit insurance coverage levels across various banking sectors. For Deposit Money Banks (DMBs), the maximum deposit...
The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, said on Saturday the agency has paid insured deposits of over N1.7 billion to...
Joshua Ukute, president of the National Association of Microfinance Banks, has reassured depositors that their money is secure despite the Central Bank of Nigeria (CBN) revoking...
The Nigeria Deposit Insurance Corporation (NDIC) has disclosed that it paid N11.83 billion to over 443,949 insured depositors and over N101.37 billion to uninsured depositors of...
The Central Bank of Nigeria (CBN) and four other agencies have come under criticism of the House of Representatives following their failure to recover debts owed...
The Nigeria Deposit Insurance Corporation (NDIC) will commence the verification of claims by depositors of the three Micro-finance Banks (MFBs) whose licences were revoked by the...
Depositors of 23 distressed Nigerian banks will be refunded by Nigerian Deposit Insurance Corporation (NDIC), the corporation’s managing director, Bello Hassan, assured. Hassan said depositors whose...
The Nigeria Deposit Insurance Corporation (NDIC) has revealed that 99.4% of bank accounts in Nigeria have less than the N500,000 Maximum Insured Limit (MIL) of the...
The Nigeria Deposit Insurance Corporation (NDIC) has liquidated at least 500 deposit money, microfinance, and primary mortgage banks whose licences were revoked by the Central Bank...
The Senate on Wednesday confirmed Ahmed Kuru as managing director of the Asset Management Corporation of Nigerian (AMCON). The upper legislative chamber also confirmed Bello Hassan...
The Nigeria Deposit Insurance Corporation (NDIC) is in the process of liquidating 42 microfinance banks, whose licences were recently revoked by the Central Bank of Nigeria...
President Muhammadu Buhari has appointed Mr. Bello Hassan as the new Managing Director of Nigeria Deposit Insurance Corporation (NDIC). The president, according to a statement issued...
The Nigerian Deposit Insurance Corporation (NDIC) is pursuing a legislative empowerment that will enable it make directors account for bank failures. The banking industry underwriter equally...
Nigerian banks remain stable despite the country’s negative rating by the global credit rating agency, Moody’s, the Nigeria Deposit Insurance Corporation (NDIC) said on Tuesday. The...
The Asset Management Corporation of Nigeria, (AMCON), an agency acting as a stabilizing tool for the nation’s financial system may soon go into extinction if the...
The Federal Executive Council (FEC) meeting presided over by Vice President Yemi Osinbajo on Wednesday approved N5.72 billion for the construction of offices for the Nigeria...
The Nigeria Deposit Insurance Corporation Thursday said it had started paying depositors of 154 Micro Finance Banks that the Central Bank of Nigeria revoked their licences...
The microfinance bank industry recorded 5.2 percent decline in non-performing loans to N25 billion in 2018, from N26.18 billion in 2017. The industry, however, struggled in...
The Nigeria Deposit Insurance Corporation (NDIC) has advised Nigerians to exercise maximum caution in the adoption of cryptocurrencies as their preferred mode of financial transactions. A...
Eligible banks in the country will have access to about N440 billion set aside by the Nigeria Deposit Insurance Corporation, NDIC for the 2019 fiscal year....
The Council of the Islamic Financial Services Board (IFSB) headquartered in Kuala Lumpur, Malaysia, has approved the full membership of the Nigeria Deposit Insurance Corporation (NDIC)...
Premium contributions by insured financial institutions in the country, under the supervision of the Nigeria Deposit Insurance Corporation (NDIC) have risen to N1.07 trillion, according to...
A report by the Nigeria Deposit Insurance Corporation, NDIC has indicated that 10 Deposit Money Banks in the country accounted for about 87.63 per cent of...
The Federal Government has assured Nigerians that everyone responsible for the failure of the defunct Skye Bank will be prosecuted. The Minister of Finance, Zainab Ahmed,...
It was on Friday evening and I was just making plans on how best I could maximise the weekend when the news broke that the Central...
The Economic and Financial Crime Commission (EFCC) has commenced investigation of directors of the defunct Skye Bank with a view to prosecute them. This is according...
Though Nigerians have so far lost about N18bn by subscribing to the Ponzi scheme, popularly known as Mavrodi Mundial Movement (MMM), greater number are still patronising...
The revelation that more than 40 per cent of Banks’ bad debts are caused by their directors has elicited some concerns among customers and other stakeholders....
This week, the Senate is set to begin debate on the 2017 appropriations bill submitted by President Muhammadu Buhari. Both chambers of the National Assembly had...
No fewer than 315 Federal agencies including the Nigerian Ports Authority (NPA), Nigeria Deposit Insurance Corporation (NDIC) have failed to submit audited accounts to the Office...
The Nigerian Development Insurance Corporation (NDIC) has expressed fears that a number of banks in the country may not survive the economic recession presently hitting the...
The Nigerian Deposit Insurance Corporation (NDIC) has disclosed that a total of about N2.54bn, belonging to ministries, departments and agencies (MDAs) of the federal and state...
Following what it described as “an increase in volume of non-performing insider loans|” in Nigerian banks, the NDIC says it is devising a new approach in...
The Nigeria Deposit Insurance Corporation, NDIC, has said that 2% of Nigerians own 90% of total deposits in Nigerian banks, indicating the widespread inbalance in wealth...
Staffers at the headquarters of the National Economic Reconstruction Fund, NERFUND, paralyzed business activities on Wednesday, as they accused the agency of mismanagement and embezzlement of...
Nigeria’s overnight interbank rate eased on Friday to around 3.5 percent from 5 percent last week, even though liquidity in the system fell as banks set...
The nation’s banking sector is set to witness a revolution with the development of a framework by the Nigeria Deposit Insurance Corporation, NDIC, aimed at insuring...
The Nigeria Deposit Insurance Corporation (NDIC) has expressed sadness in the spate of forgeries and other related crime in the nation’s banking sub-system. Raising this concern...
The Nigerian Deposit Insurance Corporation (NDIC) has said that some financial institutions in the country may encounter sudden challenges as a result of their poor governance...
In from Ali Smart… The Nigeria Deposit Insurance Corporation (NDIC) is advocating for stringent sanctions against banks with weak or poor corporate governance to discourage employees...
In efforts to ensure continued safety and soundness of the banking industry, the Central Bank of Nigeria (CBN) and the Bankers Committee on Thursday stated that...
