NDIC, Corps Members Collaborate On Fund Recovery Sensitisation

The Nigeria Deposit Insurance Corporation (NDIC) says Nigerians  are unaware that they can recover the full sum of their deposits from any bank, in the … Continue reading NDIC, Corps Members Collaborate On Fund Recovery Sensitisation


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ndicThe Nigeria Deposit Insurance Corporation (NDIC) says Nigerians  are unaware that they can recover the full sum of their deposits from any bank, in the event that the bank fails.

To create  awareness on the issue, the NDIC is embarking on a sensitisation campaign to the NYSC Camp in Nasarawa State.

The Corporation said it could refund up to 500,000 Naira to depositors affected by failed deposit money banks and non-interest banks.

It further said one of its crucial mandates was to raise public awareness on its role as the sole government agency empowered to insure bank deposits of Nigerians.

The corporation wants the Corp members to take the message to every nook and cranny of the state.

The corp members assured the corporation that they would take the awareness to the public as requested by the NDIC.

Aside from guaranteeing deposits, the Nigeria Deposit Insurance Corporation also supervises banks and helps with distressed resolution and liquidation.

Officials of the corporation encouraged Nigerians to confidently take advantage of the  banking services, knowing that their deposits are protected.