Nigerian SenateThe Senate on Wednesday confirmed the appointment of Mrs. Ronke Sokefun as Chairman of the Board of the Nigerian Deposit Insurance Corporation. Other members of the board include Barrister Festus Keyamo, SAN, Alhaji Garba Bello, Bri-Gen. Josef O. J. Okoloagu, Mustapha Adewale Mudashiru, Mr. Adewale W. Adeleke. The appointments of other members of the board
NDIC
Senate confirms Keyamo as board member of NDIC
NDIC expresses concern over evolution of digital currencies
Chinenye Anuforo As a result of its capability to jeopardise the efficacy of safety-net arrangements and prudential roles of the traditional banking system, such that its basic functions become only available to a smaller segment of the banking system, the Nigerian Deposit Insurance Corporation (NDIC) has expressed concern over the evolution of digital currencies. Speaking […]
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NDIC gives reasons for closure of 154 MFBs
Desmond Mgboh, Kano 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). Its Managing Director, Umaru Ibrahim, said the revocation became necessary due to the erosion of their capital base, poor liquidity, inept […]
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Senate pledges speedy ammendment of NDIC Act
The Senate Committee on Banking, Insurance and Other Financial Institutions has expressed commitment for the accelerated amendment of the Nigeria Deposit Insurance Corporation (NDIC) Act. According to the Chairman of the committee, Sen. Rafiu Ibrahim, this is to eliminate the gaps that have hindered the benefits of implementing the Deposit Insurance System (DIS) in Nigeria. […]
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NDIC: Mgt, directors of failed Skye Bank under probe
The Nigeria Deposit Insurance Corporation (NDIC) and the Central Bank of Nigeria (CBN) are monitoring the investigations of law enforcement agencies instituted against the directors and management of the failed Skye Bank Plc to determine their culpability in the failure of the bank. The Managing Director and Chief Executive of the NDIC, Umaru Ibrahim, announcedRead More …
NDIC reiterates commitment to protect depositors, promote stable banking system
THE Nigeria Deposit Insurance Corporation (NDIC) has reiterated its commitment to ensuring the protection of depositors in the country. Alhaji Umaru Ibrahim, NDIC’s Managing Director/Chief Executive Officer, said this in the Corporation’s 2017 Annual Report, […]
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Electronic fraud in banking hits N6.1trn by 2021 – CBN
NAN 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. Salam-Alada disclosed this at the ongoing workshop for Business Editors and Finance Correspondents, organised by Nigeria Deposit Insurance Corporation (NDIC) in Benin. According to him, […]
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NDIC saved N949b depositors’ funds Skye Bank’
The Nigeria Deposit Insurance Corporation (NDIC) said it saved about N949.6 billion depositors’ funds in failed Skye Bank. Managing Director of the Corporation, Alhaji Umaru Ibrahim, disclosed this in Benin City on Tuesday at the opening of a workshop for financial journalists organised by the NDIC. He said that the saving was achieved through theRead More …
CBN urges media collaboration in educating depositors
NAN 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 said this at a workshop for Business Editors and Finance Correspondents Association of Nigeria (FICAN) on Tuesday in Benin. […]
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