The Senate today confirmed the nomination of Messrs Bello Hassan and Mustapha Mohammed Ibrahim as Managing Director/Chief Executive and Executive Director (Operations) of the Nigeria Deposit Insurance Corporation (NDIC) respectively. Presenting the report on screening…
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the closure of 42 Microfinance Banks (MFBs) which operating licences were recently revoked by the Central Bank of Nigeria (CBN) with verification of their respective depositors. This…
The Nigeria Deposit Insurance Corporation (NDIC) has stated that a limited understanding and the widespread misconception of the Deposit Insurance System (DIS) in Nigeria was largely responsible for the pool of unclaimed deposits following bank…
The Nigeria Deposit Insurance Corporation (NDIC), hereby informs the general public that effective from the 8th of December, 2020, Umaru Ibrahim, its Managing Director/Chief Executive, will formally disengage from service having successfully completed two terms…
The Nigeria Deposit Insurance Corporation (NDIC) has been described as the best parastatal in the country under the leadership of the Corporation’s outgoing MD/CE Umaru Ibrahim. The former Permanent Secretary, Ministry of Finance, Dr. Mahmoud…
The International Association of Deposit Insurers (IADI) have commended the Nigeria Deposit Insurance Corporation (NDIC) for proposing the establishment of the African Center for Deposit Insurance (ACDI) to be domiciled in the NDIC Academy, Abuja…
PRESS RELEASE The implementation of effective fiscal and monetary policy measures is critical towards addressing the unexpected impact of the Covid-19 pandemic on the Financial System. The Managing Director/Chief Executive of the Nigeria Deposit Insurance…
PRESS RELEASE Contrary to misleading reports, the Nigeria Deposit Insurance Corporation (NDIC) has adhered to statutory guidelines on the distress resolution and liquidation of Fortis Microfinance Bank (MFB) Plc. and the protection of interest of…
The attention of the Management of the Nigeria Deposit Insurance Corporation (NDIC) has been drawn to a report on the online platforms of the Financial Watch and Latest Nigerian News titled – “NDIC Recruitment Portal…
In its capacity as official liquidator, the Nigeria Deposit Insurance Corporation (NDIC) has secured a judgment against Jolimair Nigeria Limited and three other debtors who owed the defunct Gulf Bank Plc the sum of N1.4bn.…
During the COVID-19 pandemic, don’t be confused or live in fear about what to do with your money. The best place to keep your money is in banks licenced by the Central Bank of Nigeria…
The Nigeria Deposit Insurance Corporation (NDIC) has condoled with President Muhammadu Buhari on the demise of his late Chief of Staff Mallam Abba Kyari who died on Friday 17th of April, 2020. In a letter…
As part of the measures put in place to safeguard the life of staff, other occupants and visitors, the Corporation commenced the routine decontamination of the NDIC Head Office Building on Monday, 22nd June, 2020.…
In a bid to establish effective legal instruments to secure the safety and stability of the nation’s financial system, there is a need to closely examine enacting laws with a view to harmonising the positions…
As part of the measures put in place to safeguard the life of staff, other occupants and visitors, the Corporation commenced the routine decontamination of the NDIC Head Office Building on Monday, 22nd June, 2020.…
PRESS RELEASE The Board of the Nigeria Deposit Insurance Corporation (NDIC) has approved the immediate release of the sum of N1 billion Naira to the COVID-19 Relief Fund being put together to fight against the…
PRESS RELEASE The MD/CE of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has called for close partnership and collaboration with Alumni Association of the National Institute (AANI) for the rapid economic development of the…
PRESS RELEASE The Nigeria Deposit Insurance Corporation (NDIC) has responded to technological innovations and applications in financial services with the establishment of a new “FINTECH AND INNOVATIONS UNIT” to align with contemporary trends in advanced…
PRESS RELEASE The Nigeria Deposit Insurance Corporation (NDIC) has emerged the best performing Ministerial Servicom Unit (MSU) in the team “C” category for Ministries, Departments and Agencies (MDAs) for the year 2019. The Corporation’s Nodal…
PRESS RELEASE The Nigeria Deposit Insurance Corporation (NDIC) as a key component of the Nigerian financial safety-net arrangement, has zero tolerance for corruption and all forms of malpractices within the Corporation and in the implementation…
PRESS RELEASE The Nigeria Deposit Insurance Corporation (NDIC) has signed a Memorandum of Understanding (MOU) with the Korea Deposit Insurance Corporation (KDIC) on a wide range of issues intended to facilitate the robust implementation of…
PRESS RELEASE The Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC) Umaru Ibrahim has advised Nigerians to exercise maximum caution in the adoption of crypto-currencies as their preferred mode of…
PRESS RELEASE The Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has appealed to the 9th Senate of the Federal Republic for the speedy passage of the NDIC…
PRESS RELEASE The Nigeria Deposit Insurance Corporation (NDIC) has carved a niche for itself as the leading Deposit Insurer in Africa according to the Chairman of the House of Representatives Committee on Insurance and Actuarial…
PRESS RELEASE Vice President Yemi Osinbajo has expressed confidence in the ability of the new Board and Management of the NDIC led by Mrs Ronke Sokefun whom he described as an experienced lawyer and Umaru…
The attention of the Nigeria Deposit Insurance Corporation (NDIC) has been drawn to a report in the Daily Trust Newspaper of Friday, 8th February, 2019 which alleged a hasty liquidation of Fortis Micro-Finance Bank (MFB). The…
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 as…
The Nigeria Deposit Insurance Corporation (NDIC) has zero tolerance for all forms of malpractices within the Corporation and in all the initiatives it has taken to fully implement its mandate. The Managing Director/Chief Executive of…
The Council of the Islamic Financial Services Board (IFSB) which has its headquarters in Kuala Lumpur, Malaysia, has admitted the Nigeria Deposit Insurance Corporation (NDIC) as a full member of the board. The NDIC joins…
PRESS RELEASE The Senate Committee on Banking, Insurance and Other Financial Institutions has expressed a strong Commitment for the accelerated amendment of the Nigeria Deposit Insurance Corporation (NDIC) Act, 2006, to eliminate the gaps that…
PRESS RELEASE 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…
PRESS RELEASE The Nigeria Deposit Insurance Corporation (NDIC) has been declared the best performing public sector institution in Nigeria on compliance with Information Technology Clearance Regulation after a rigorous selection process in Nigeria. The award…
PRESS RELEASE The Honourable Minister of Finance Hajiya Zainab Ahmed, has directed the Central Bank of Nigeria (CBN), and the Nigeria Deposit Insurance Corporation (NDIC), to fully investigate and prosecute all the Directors and Executive…
PRESS RELEASE 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…
PRESS RELEASE 1. In continuation of the Central Bank of Nigeria (CBN) intervention in the distressed Skye Bank Plc., on the 4th July 2016, which was aimed at protecting depositors of that bank, the NDIC,…
PRESS RELEASE The Nigeria Deposit Insurance Corporation (NDIC) will host the next edition of the International Association of Deposit Insurers (IADI) Africa Regional Committee (ARC) Annual General Meeting and Technical Assistance Workshop. The event has…
PRESS RELEASE The Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has stressed the need for effective collaboration between regulators and operators in the banking system for the establishment…
PRESS RELEASE The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim has advocated quality education as panacea to check the spate of violence and insecurity challenges currently being experienced in the country. The…
PRESS RELEASE The Nigeria Deposit Insurance Corporation (NDIC) is assisting the Uganda Deposit Protection Fund (DPFU) to develop capacity to implement the Deposit Insurance System (DIS) in the East African country. The Corporation recently hosted…
The Nigeria Deposit Insurance Corporation (NDIC) has become the first public sector organization in Nigeria to be awarded three International Organization for Standardization (ISO) certifications by the British Standards Institute (BSI) simultaneously. At an elaborate…
The Office of Technical Assistance (OTA) of the United States Department of Treasury has commended the Nigeria Deposit Insurance Corporation (NDIC) on the establishment of a world class academy that serves as a reference point…
The Nigeria Deposit Insurance Corporation (NDIC) is to investigate some banks for the inadequate rendition of returns to the Corporation on instances of fraud, forgeries, and cases involving members of their staff who were either…
The Managing Director/Chief Executive of Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim has identified the critical role the Institute of Directors (IoD) could play towards addressing the poor corporate governance practices that have posed a…
Sterling Bank Plc have praised the Nigeria Deposit Insurance Corporation (NDIC) for its immense contribution to the safety and soundness of the Nigerian banking system since its inception. The Management of the bank expressed the…
The Nigeria Deposit Insurance Corporation (NDIC) has successfully obtained three certifications from the British Standards Institution (BSI) for Information Security Management System ISO/IEC 27001:2013, IT Service Management System ISO/IEC 20000-1:2011 and Business Continuity Management System, ISO…
PRESS RELEASE Forty Six (46) members of staff of the Nigeria Deposit Insurance Corporation (NDIC) have graduated from the Chartered Banker/Master in Business Administration (CB/MBA) Programme at Bangor University, Scotland. The graduates have also earned…
The Nigeria Deposit Insurance Corporation (NDIC) is organising a five-day capacity building programme for senior officials of Ghana Deposit Protection Corporation (GDPC) as part of the NDIC’s efforts to assist member countries in the West…
The banking industry recorded a decline in the rate of successful fraud incidences and extent of amount of losses in 2016, compared to 2015. The NDIC Managing Director/Chief Executive, Alh. Umaru Ibrahim, FCIB, mni, made this…
PRESS RELEASE “An investment in knowledge pays the best interest” – Benjamin Franklin, American author, scientist and statesman The evolution of elaborate deposit insurance system (DIS) can be traced to the United States Congress which…
PRESS RELEASE The Nigeria Deposit Insurance Corporation (NDIC) is set to lead the African Sub-Region in enhancing capacity building and bridging skills gaps in the banking industry in general and the Deposit Insurance Scheme (DIS)…
PRESS RELEASE The Managing Director/Chief Executive of Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim has called on members of the public to ignore rumours of financial distress in some banks that are being circulated…
PRESS RELEASE The Task Force on the Implementation of the Failed Bank Act has given notice to re-arrest for prosecution, directors and officers of licensed banks who had committed banking malpractices and had absconded. The…
The Nigeria Deposit Insurance Corporation (NDIC) has concluded a capacity building programme for Operatives of the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices Commission (ICPC).The fifty-two day long training programme is in…
The Nigeria Deposit Insurance Corporation (NDIC) has postponed the workshop on differential premium assessment system (DPAS) earlier organised for operators of primary mortgage banks (PMBs) from Wednesday, 23rd to Friday, 25th November, 2016. A release signed…
Our attention has been drawn to remarks credited to erstwhile DG, NSE, Dr. Ndidi Okereke-Onyuike, which was published in many newspapers on Thursday, 10th November, 2016. In her speech delivered during a book launch in Lagos,…
PRESS RELEASE The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Alh. Umaru Ibrahim has been re-elected into the Executive Committee of the International Association of Deposit Insurers (IADI) for another term of…
The Senate Committee on Banking, Insurance and Other Financial Institutions has commended the Nigeria Deposit Insurance Corporation (NDIC) for its prompt and regular remittance of its operating surplus into the Consolidated Revenue Fund (CRF) in…
The Management of Jaiz Bank Plc has been advised to strengthen its corporate governance in order to weather the storm of economic challenges that is currently facing Nigeria’s banking industry.The MD/CE of Nigeria Deposit Insurance…
PRESS RELEASE The Nigeria Deposit Insurance Corporation (NDIC) has been granted approval for an upward review of its maximum deposit insurance coverage (MDIC) from N200,000 to N500,000 per depositor for primary mortgage banks (PMBs) and…
PRESS RELEASE The Management of Jaiz Bank Plc has been advised to strengthen its corporate governance in order to weather the storm of economic challenges that is currently facing Nigeria’s banking industry. The MD/CE of…
PRESS RELEASE The Managing Director/Chief Executive of Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim has expressed concern over the increasing wave of non-performing insider loans in various banks and its consequence on the stability…
The Nigeria Deposit Insurance Corporation (NDIC) has released its 2015 Annual Report. Below are the highlights of the report. 1.0 Following a study on coverage levels conducted by the NDIC in 2015, it reviewed upwards…
The Nigeria Deposit Insurance Corporation (NDIC) has presented prize awards to three deserving students of Ahmadu Bello University (ABU), Zaria for their outstanding performance in “Fundamentals of Deposit Insurance” course recently introduced into the university.…
The Fiscal Responsibility Commission (FRC) has commended the Management of Nigeria Deposit Insurance Corporation (NDIC) for compliance with the submission of its audited financial statements of 2007- 2014 and prompt payment of operating surplus.This commendation…
Following the introduction of mobile banking in Nigeria by the Central Bank of Nigeria (CBN) which issued operating licences to many deposit money banks (DMBs) and telecommunication companies to provide mobile banking services, the Nigeria…
Following the successful take off of the non interest banking in Nigeria that is currently being undertaken by Ja’iz Bank and also by Stanbic IBTC and Sterling Banks, the Nigeria Deposit Insurance Corporation (NDIC) has…
The Nigeria Deposit Insurance Corporation (NDIC) has reiterated that the Nigerian Judiciary is a critical institution towards achieving the NDIC core mandate of depositor protection and its contribution to financial system stability. The Managing Director…
Nigeria Deposit Insurance Corporation (NDIC) has admonished the Management of Jaiz Bank Plc to embark on intensive public awareness and financial education on the benefits of non-interest banking practice in the country in order to…
The World Bank has commended Nigeria Deposit Insurance Corporation (NDIC) for its robust Target Fund Ratio Framework which enables the Corporation to meet its obligation to depositors. Headed by Mr Julian Casal, the World Bank…
PRESS STATEMENT NDIC INTRODUCES DEPOSIT INSURANCE SYSTEM (DIS) CURRICULUM IN UNIVERSITIES, TERTIARY INSTITUTIONS The Nigeria Deposit Insurance Corporation (NDIC) has introduced deposit insurance system (DIS) into the curricula of Nigerian universities and other tertiary institutions…
The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Alh. Umaru Ibrahim has charged stakeholders in the banking sector to pay greater attention to sound corporate governance practices to prevent systemic crisis in…
An unfortunate fire incident occurred this morning at the Mamman Kontagora House, 23 Marina,Lagos. Luckily no life was lost and no sensitive document was destroyed because the fire mostly affected the Marina side of the…
L-R: NDIC MD/CE Alh. Umaru Ibrahim receiving a special commemorative plaque from the Group Managing Director, Nigerian Army Welfare Limited, Major General Augustine Okoh who led his management team on a courtesy visit to the NDIC Senior Management in Abuja. L-R: NDIC MD/CE Alh. Umaru Ibrahim presenting some of the Corporation’s publications to the Group…
Management of Aso Savings & Loans Plc have been advised to ensure sound corporate governance in the take-over of Union Homes Savings and Loans (UHSL) Plc. The Managing Director/Chief Executive of Nigeria Deposit Insurance Corporation…
MD/CE NDIC, Alh. Umaru Ibrahim presenting the Corporation’s submission before the Senate Committee on Banking, Insurance and Other Financial Institutions during the Senate Public Hearing on the Amendment of the NDIC Act at the National…
