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Umaru Ibrahim

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 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.

NDIC to run diploma in financial journalism

The Nigerian Deposit Insurance Corporation (NDIC) has concluded plans to begin sponsoring a diploma in financial journalism in its efforts to deepen business reporting 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.

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.

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.

NDIC: Bridge bank option saves financial system from systemic risks

To curtail the spread of systemic risks that could trigger massive lay-off in the financial sector, the use of bridge bank option to resolve the failure of the defunct Skye Bank has been adjudged the most effective way.
Nigeria's acting finance minister Zainab Ahmed addressing a press conference in Abuja....Twitter-ZShamsuna

Finance minister seeks probe of bank chiefs

Nigeria’s Minister of Finance, Zainab Ahmed, has expressed serious concerns over the rising incidence of non-performing loans (NPLs) in deposit money banks (DMBs) in the country.
Acting Finance Minister of Finance Zainab Ahmed

Zainab Ahmed wants investigation, prosecution of bank chiefs over non-performing loans

The Supervising Minister of Finance, Zainab Ahmed, on Friday expressed serious concerns over the rising incidence of non-performing loans (NPLs) in deposit money banks (DMBs) in the country.
Skye Bank

Federal government to prosecute officials responsible for Skye Bank’s failure

The federal government has promised to persecute anyone found to be responsible for the failure of the erstwhile Skye Bank.

NDIC pays N11.50 billion to depositors of failed banks, recovers N28 billion debt

The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, Tuesday said a total of N11.50 billion had been paid to depositors, creditors, shareholders and other stakeholders of closed financial institutions as at December 31, 2017.

Polaris Bank takes over as CBN revokes Skye Bank’s licence

The Central Bank of Nigeria (CBN) yesterday revoked the operating licence of Skye Bank Plc exactly 27 months after its intervened in the ailing bank.

NDIC tasks bankers on ethical standards

The Nigeria Deposit Insurance Corporation has called on the regulators and operators in the financial industry to establish sound ethical standards in the banking industry.

NDIC warns Nigerians to beware of ‘wonder banks’

The Nigeria Deposit Insurance Corporation (NDIC) has urged Nigerians to be wary of “wonder banks” that give extra-ordinary interest rates and profits on investments.

Suspected herdsmen kill 11, torch 50 houses in Plateau

Over 50 houses were burnt and eleven persons, including twins, were murdered in the early hours of Friday in two separate attacks carried out by suspected Fulani herdsmen on two villages in Plateau State.

NDIC warns against trading in bitcoins, cryptocurrencies

The Nigeria Deposit Insurance Corporation (NDIC) has cautioned Nigerians to beware of trading in bitcoins and crypto-currencies, warning that they are neither issued by the Central Bank of Nigeria (CBN) nor insured by NDIC.

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Civil Service Minister Carmelita Namashulua

Mozambique government finds 30,000 ghost workers costing $250 million

Mozambique’s government said on Monday that it had identified 30,000 “ghost employees” in its civil service who cost $250 million between 2015 and 2017.

Christmas: Enugu announces free ride for indigenes

Governor Ifeanyi Ugwuanyi of Enugu State has announced free transportation for indigenes of the state living in other parts of the country, who intend to return home to celebrate the festive season with their loved ones.

Presidency: PDP spreading fake news

Apparently irked by allegations from the opposition that President Muhammadu Buhari ordered the raid of the home of Aliyu and Mustapha, sons of the People Democratic Party (PDP) presidential candidate, former Vice President Atiku Abubakar, the Presidency has advised Nigerians to ignore such claims.
Lai Mohammed, minister of information, says Senate President Bukola Saraki slowed down the progress of the All Progressives Congress (APC)

Lai Mohammed: Olusegun Obasanjo’s candidate will be defeated roundly in 2019

The federal government says though it is the constitutional right of the former President Olusegun Obasanjo to support a candidate for an election, his endorsement, however, does not guarantee victory.
Oby Ezekwesili

Oby Ezekwesili urges Muhammadu Buhari to sign the electoral bill

The presidential candidate of the Allied Congress Party of Nigeria, Mrs. Obiageli Ezekwesili, has urged President Muhammadu Buhari to sign the Electoral Act Amendment Bill 2018.