Nigeria Deposit Insurance Corporation wins integrity award and disburses N1.48 billion

The Nigeria Deposit Insurance Corporation (NDIC) has received the 2026 Pillar of Integrity in Public Service Award. The honor, presented in partnership with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), recognizes the corporation’s performance in the 2025 Ethics and Integrity Compliance Scorecard (EICS). The NDIC ranked second overall in the assessment, which evaluates public institutions on management culture, financial management, administrative systems, and anti-corruption initiatives.

Separately, NDIC Managing Director Thompson Oludare Sunday announced that the corporation has disbursed N1.48 billion to 10,312 depositors of 47 recently closed microfinance banks. These payments follow the revocation of the banks' operating licenses by the Central Bank of Nigeria. To facilitate these payouts, the NDIC utilized Bank Verification Number (BVN) validation through the Nigeria Inter-Bank Settlement System (NIBSS) to identify affected individuals and locate alternative accounts, aiming to streamline the claims process and maintain confidence in the financial system.