NDIC Raises Alarm Over Mandatory Deductions Hindering Deposit Insurance Fund
NDIC says Federal Government’s 50% cost-to-income deduction limits its ability to strengthen Deposit Insurance Fund (DIF). Managing Director urges exemption to ensure readiness for potential bank failures while maintaining compliance…
NDIC, NIBSS Move to Digitise Depositor Reimbursement as Bank Failures Loom
NDIC and NIBSS seal plans to digitise depositor reimbursement for failed banks BVN-driven verification to enable faster, safer payouts to affected customers Mobile money, real-time data sync proposed to strengthen…
NDIC Lists Heritage Bank’s Head Office, Other Assets For Sale
The Nigeria Deposit Insurance Corporation (NDIC) has announced the sale of the head office and various assets of the defunct Heritage Bank. This move comes as part of NDIC’s responsibilities…
NDIC Pays N5m Each to 82.36% of Defunct Heritage Bank Customers
The Nigeria Deposit Insurance Corporation (NDIC) has disbursed N5 million each to 82.36% of the total customers of the defunct Heritage Bank. This move comes after the Central Bank…
Senate Revokes CBN’s Authority to Appoint NDIC CEO
The Nigerian Senate has officially removed the Central Bank of Nigeria's (CBN) authority to appoint the Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC) through an amendment to…
Court Upholds Chiedu Ebie’s NDDC Chairmanship, Dismisses Suit by Oil Communities
The Federal High Court in Abuja has ruled against a lawsuit seeking the removal of Chiedu Ebie as Chairman of the Niger Delta Development Commission (NDDC). In a decision delivered…