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All posts tagged "NDIC"

  • NDIC threatens to withdraw insurance cover for MFBs

    The Nigeria Deposit Insurance Corporation has threatened to withdraw insurance cover from any microfinance bank that consistently fails to pay its premium. The Managing Director/Chief Executive, NDIC, Alhaji Umaru Ibrahim, made the threat when officials of the...

    • Posted September 28, 2013
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  • NDIC to pay N2.03 billion Trapped Depositors Fund

    The Nigerian Deposits Insurance Corporation (NDIC) said on Tuesday in Lagos that it has concluded arrangement to pay N2.03 billion to 69,000 depositors whose funds were trapped in 91 microfinance banks (MFB’s) across the country. NDIC’s Head...

    • Posted August 3, 2011
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  • Corporation to pay N9.8b to defunct microbanks’ depositors

    Depositors of the 103 failed Micro Finance Banks (MFBs) whose licences were revoked by the Federal Government are to be paid about N9.8 billion by the Nigeria Deposit Insurance Corporation (NDIC). Beneficiaries numbering 731,000 in 91 out...

    • Posted April 21, 2011
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  • Rescuing banks from web of bad debts

    THE concept of banking, essentially, though nebulous, revolves around management of money, credit and investments. It is one of the oldest professions in the world and credit is at the heart of the business. The key functions...

    • Posted April 11, 2011
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  • NDIC unleashes new examiners on banks

    In its effort to have a firm hold on the banking industry, the Nigeria Deposit Insurance Corporation (NDIC) has released a fresh set of bank examiners to monitor the sector. The exercise also seen an attempt to...

    • Posted March 28, 2011
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