
Insuring all deposit liabilities of licensed banks and such other financial institutions
Giving technical and financial assistance to insured financial institutions
Ensure that failing and failed insured institutions are resolved in a timely and efficient manner
The bank liquidation option is always adopted by the corporation for banks that fail to respond to prompt corrective actions
The NDIC (Nigeria Deposit Insurance Corporation) is an independent agency of the Federal Government of Nigeria. The purpose of the deposit insurance system is to protect depositors and guarantee the settlement of insured funds when a deposit-taking financial institution can no longer repay their deposits, thereby helping to maintain financial system stability.