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Nigeria Deposit Insurance Corporation

NDIC explains factors that led to liquidation of Fortis MfB

The Nigeria Deposit Insurance Corporation, NDIC, said that decision to liquidate the defunct Fortis Microfinance Bank was taken after efforts to resuscitate the bank proved abortive.

Court orders NDIC to pay ex-bank manager’s N27.9 million disengagement benefits

The National Industrial Court, Abuja, on Thursday ordered the Nigeria Deposit Insurance Corporation (NDIC), to pay a former Deputy General Manager of the defunct Hallmark bank, Eze Okorocha, N27.9 million, being his benefits within 30 days.

NDIC board pledges to stabilize Nigeria’s financial system

Members of the newly inaugurated Board of the Nigeria Deposit Insurance Corporation (NDIC) have pledged their total commitment to the formulation of sound policies that will enhance the safety and stability of the nation’s financial system.

Elections: Six commissioners resign from Governor Amosun’s cabinet

Six members of the Ogun State Executive Council have resigned their appointments to pursue various elective positions in the forthcoming general elections.

Ike Ekweremadu, Ahmed Lawan disagree over Senate membership composition

The Deputy President of the Senate, Sen. Ike Ekweremadu, on Thursday disagreed with the Majority Leader, Sen. Ahmed Lawan, over the composition of the membership of the upper legislative chamber.
Festus Keyamo

Senate confirms Festus Keyamo as NDIC board member

The senate has confirmed Festus Keyamo, spokesman of the President Muhammadu Buhari 2019 campaign, as a board member of the Nigeria Deposit Insurance Corporation (NDIC).
Tunde Ayeni

EFCC detains ex-Skye Bank chief Tunde Ayeni for alleged fraud

The Economic and Financial Crimes Commission has detained a former Chairman of Skye Bank Plc (Now Polaris Bank), Mr. Tunde Ayeni, for fraud.

NDIC becomes full member of Islamic financial board

The Council of the Islamic Financial Services Board (IFSB) with its headquarters in Kuala Lumpur, Malaysia, has admitted the Nigeria Deposit Insurance Corporation (NDIC) as a full member of the board.

NDIC: Why central bank revoked licenses of 154 MFBs, 6 PMBs

The Nigeria Deposit Insurance Corporation (NDIC), on Wednesday, offered insights why the Central Bank of Nigeria (CBN) revoked the licenses of 154 Micro Finance Banks (MFBs) and six Primary Mortgage Banks.

NDIC gives reasons for closure of 154 microfinance banks

Nigeria Deposit Insurance Corporation (NDIC), Wednesday, offered insights into why the Central Bank of Nigeria (CBN) revoked the licenses of 154 Micro Finance Banks (MFBs) and six Primary Mortgage Banks (PMBs).

NDIC reiterates commitment to protect depositors, promote stable banking system

The Nigeria Deposit Insurance Corporation has reiterated its commitment to ensure the protection of depositors in the country.

Report: NDIC pays N1.45bn to 34 closed DMBs in 2017

The Nigeria Deposit Insurance Corporation (NDIC), said it paid N1.45 billion to 16, 324 depositors of 34 closed Deposit Money Banks (DMBs) in 2017.

Central bank: Electronic fraud will hit N6.1 trillion by 2021

Mr Sunday Salam-Alada, Director, Consumer Protection Department, Central Bank of Nigeria (CBN) has said electronic fraud losses in the banking system are projected to reach N6.1 trillion by 2021.

NDIC begins verification of failed MFBs’ depositors

Following the Central Bank of Nigeria’s (CBN) revocation of the licences of 154 Micro Finance Banks (MFBs) and six Primary Mortgage Banks (PMBs), the Nigeria Deposit Insurance Corporation (NDIC) has commenced verification of the depositors of the affected institutions and would soon begin payment of verified claims.
Skye Bank

NDIC saved N949 billion depositors’ funds in failed Skye Bank

The Nigeria Deposit Insurance Corporation (NDIC) said it saved about N949.6 billion depositors’ funds in failed Skye Bank.

Central bank urges media collaboration in educating depositors

The Central Bank of Nigeria (CBN) has urged media practitioners to collaborate with financial regulators in the country to educate depositors on financial literacy and inclusion. The Head, Financial Inclusion Secretariat, CBN, Mrs Temitope Akin-Fadeyi...

Official: NDIC saved N949bn depositors’ funds in failed Skye Bank

The Nigeria Deposit Insurance Corporation (NDIC) said it saved about N949.6 billion depositors’ funds in failed Skye Bank.

NDIC investigates management, directors of defunct Skye Bank

The Nigeria Deposit Insurance Corporation (NDIC), says it is monitoring investigations of directors and management of the failed Skye Bank Plc being carried out by law enforcement agencies.

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I can’t remember my earnings as Chief of Army Staff – General Bamaiyi tells court

Retired General Ishaya Bamaiyi has told an Ikeja High Court that he could not recall how much he earned as salary as former Nigerian Chief of Army Staff.

Elections: Police deploy 4,000 personnel in Bayelsa

The Commissioner of Police, Bayelsa State command, Aminu Saleh, Thursday said over 4000 policemen will be providing security for the rescheduled elections on Saturday.
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INEC: Voting materials got to right destinations

The Independent National Electoral Commission (INEC) in Ekiti State has again assured the electorate that the sensitive and non-sensitive materials already distributed for the conduct of Saturday’s elections got to the right destinations across the 16 local government areas of the state.
Prof. Mahmood Yakubu, the Chairman, Independent National Electoral Commission (INEC)

INEC: 19 states have completed deployment of election materials

The Independent National Electoral Commission (INEC) has revealed that 19 states have completed deployment of electoral materials, while other states would complete their deployment by the end of today (Thursday).

Governor Tambuwal: My government is providing basic amenities

Sokoto state governor Aminu Waziri Tambuwal while on a campaign in Rabah local government said his government remained committed towards providing basic amenities to the people of the state.