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FG committed to a stable financial system – NDIC

FG committed to a stable financial system – NDIC

The Federal Government is committed to ensuring a stable financial system in the country, Managing Director/Chief Executive Officer, Nigeria Deposit Insurance Corporation, (NDIC), Umaru Ibrahim, has said. The NDIC boss stated this during a seminar organised by the corporation for management staff of the Federal Ministry of Finance, in Abuja on Monday. Ibrahim stated that […] …

NDIC Board promises stability of financial system through policies

NDIC Board promises stability of financial system through policies

Members of the newly inaugurated Board of the Nigeria Deposit Insurance Corporation (NDIC) have stated their commitment to the formulation of sound policies to enhance the safety and stability of the nation’s financial system. The Chairman, Mrs. Ronke Shokefun stated this at the opening ceremony of the maiden retreat for members of the Board in […] …

NDIC expresses concern over evolution of digital currencies

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

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

Appeal court sacks Delta Assembly deputy speaker

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 commited to safeguard of depositors’ funds -MD  

NDIC commited to safeguard of depositors’ funds -MD  

Omodele Adigun, Charles Nwaoguji ,Chiamaka Ajeamo The Nigeria Deposit Insurance Corporation (NDIC) has reassured Nigerians of safeguarding their bank deposits, boosting financial stability and instilling discipline into the nation’s money market. According to its Managing Director, Alhaji Umaru Ibrahim, while speaking yesterday during the NDIC Special Day at the Lagos International Trade Fair , the […]
The post NDIC commited to safeguard of depositors’ funds -MD   appeared first on The Sun Nigeria. …

FG to prosecute those responsible for the failure of Skye bank

FG to prosecute those responsible for the failure of Skye bank

The Federal Government has promised to persecute all those found to be responsible for the failure of the erstwhile Skye Bank. A statement from the federal ministry of finance issued on Friday evening and signed by the Director of Information Mr. Hassan Dodo said the Minister of Finance, Zainab Ahmed made this known when sheRead More …

N11.5bn paid to depositors in 2017 – NDIC

N11.5bn paid to depositors in 2017 – NDIC

About N11.50 billion has been paid to financial institutions, the Managing Director and Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has revealed. The payment, he said, were made to depositors, creditors, shareholders and other stakeholders of closed financial institutions in December, 2017. Ibrahim stated these during the NDIC Special Day at the AbujaRead More …

NDIC Boss elected as new Chairperson of IADI

NDIC Boss elected as new Chairperson of IADI

The Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has been elected the new Chairperson of the Africa Regional Committee (ARC) of the International Association of Deposit Insurers (IADI). The NDIC made this known through a statement by its Head of Communications and Corporate Affairs, Mohammed Kudu Ibrahim. AccordingRead More …

Abuse of ethical standards negatively impacting banking industry – NDIC

Abuse of ethical standards negatively impacting banking industry – NDIC

The Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, have stressed the need for effective collaboration between regulators and operators in the banking system for the establishment of sound ethics and professionalism in the banking industry. He made the call during the courtesy visit by the Executive members ofRead More
The post Abuse of ethical standards negatively impacting banking industry – NDIC appeared first on The Nation Nigeria. …

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