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2 clusters · 6 sources · 7 days · First seen · Last updated
Nigeria Deposit Insurance Corporation activities
Overview
The Nigeria Deposit Insurance Corporation (NDIC) has focused on enhancing financial stability and streamlining the reimbursement process for insured depositors. The agency urged depositors to verify their personal data and ensure it is correctly linked to Bank Verification Numbers (BVN) to facilitate faster payments during bank failures. To support this, the NDIC launched an upgraded website and utilized digital solutions like the Single Customer View (SCV) to reduce the need for physical verification.
Following these efforts, the NDIC received the 2026 Pillar of Integrity in Public Service Award for its performance in ethics and integrity compliance. Additionally, the corporation successfully disbursed N1.48 billion to 10,312 depositors of 47 microfinance banks that had their licenses revoked by the Central Bank of Nigeria. These payouts were facilitated through BVN validation to identify affected individuals and maintain confidence in the financial system.
Entities
Nigeria Deposit Insurance Corporation · Central Bank of Nigeria · Thompson Oludare Sunday · Abuja · Independent Corrupt Practices and Other Related Offences Commission
Timeline
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[BUSINESS] 2 sourcesNigeria Deposit Insurance Corporation wins integrity award and disburses N1.48 billion
The Nigeria Deposit Insurance Corporation has won a public service integrity award and disbursed N1.48 billion to over 10,000 depositors of failed microfinance banks.
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[BUSINESS] 4 sourcesNigeria Deposit Insurance Corporation urges depositors to verify banking data
The NDIC is urging Nigerian depositors to verify their banking data to ensure faster insurance payouts during bank failures and has increased insured limits to protect 98 percent of depositors.
Sources
businessday.ng · nnn.ng · punchng.com · theabujainquirer.com · thisdaylive.com · tribuneonlineng.com