The Nigeria Deposit Insurance Corporation (NDIC) has commenced the final phase of winding down 89 defunct Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs) across the country, following their acquisition by new operators under its resolution framework. The move comes after the Central Bank of Nigeria (CBN) revoked the licences of 179 microfinance banks and …
The Nigeria Deposit Insurance Corporation (NDIC) has announced a ₦24.3 billion second liquidation dividend for depositors of the defunct Heritage Bank with balances above the insured limit of ₦5 million. NDIC made the declaration in a statement issued on Sunday by its Head of Communication and Public Affairs Department, Hawwau Gambo. “It is in continuation …
The Nigeria Deposit Insurance Corporation (NDIC) is now better equipped to hold those responsible for bank failures accountable, thanks to stronger legal frameworks, according to its Managing Director/Chief Executive (MD/CE), Mr Thompson Oludare Sunday. In a recent meeting with the President/Chairman of the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), Mr Chimezie Victor …
The Nigeria Deposit Insurance Corporation (NDIC) and the Chartered Institute of Bankers of Nigeria (CIBN) have strengthened their collaboration to address emerging risks and challenges within Nigeria’s banking sector. This was made known in a press statement made available to Pinnacle Daily and signed by the Head of Communication and Public Affairs, NDIC, Hawwau Gambo, …
The Central Bank of Nigeria (CBN) and the Nigerian Deposit Insurance Corporation (NDIC) have pledged commitment to enhancing collaboration for the stability of Nigeria’s financial system. The commitment was made when newly appointed management of the NDIC, led by Managing Director/Chief Executive Mr Thompson O. Sunday, recently paid a courtesy visit to the CBN Governor, …
