Tags: NDIC

NDIC STRENGTHENS PARTNERSHIP WITH ICPC FOR ZERO TOLERANCE ON CORRUPTION

Members of the NDIC re-constituted Anti-Corruption and Transparency Unit (ACTU) being inaugurated by the Independent Corrupt Practices and other related Offences Commission (ICPC) at the Corporation’s Head Office, Abuja The Nigeria Deposit Insurance Corporation (NDIC)has zero tolerance for all forms of malpractices within the Corporation and in all the initiatives it has taken to fully…

Banks’ Non-performing Loans Stood 10-month High At N2.42trn – NDIC 

The Nigeria Deposit Insurance Corporation (NDIC) has disclosed that total Non-performing Loans (NPLs) in the banking industry hits N2.42 trillion or 15.18 per cent as at September 30, 2017, the highest in over 10 months. According to NDIC, the banking industry in 2016 reported a NPL of about N1.6 trillion or 10.13 per cent to…

Media a strong partner in the struggle to enhance financial literacy, consumer protection

Financial institutions in Nigeria and their regulators have a lot of lessons to learn from GSM service providers when it comes to market penetration and strategies for creating products awareness. Speaking during A Two-Day Workshop for Business Editors and Members of Finance Correspondents Association of Nigeria (FICAN) under the theme: The Nigerian Banking Sector: Challenges,…

NDIC calls for outright ban of all directors from obtains credit facilities within their bank

Due to the rising trend as it regards non-performing loans (NPLs) in the Nigeria banking industry, the Nigeria Deposit Insurance Corporation (NDIC) had recommended the prohibition of directors of licensed banks, including microfinance banks (MFBs) and primary mortgage banks (PMBs) from obtaining credit facilities from their respective banks.   The NDIC, Managing Director/Chief Executive, Umaru…

NDIC CELEBERATES LANDMARK JUDGEMENT IN FAVOUR OF DEPOSITORS OF LEAD MERCHANT BANK (IN-LIQUIDATION)

  AdvertisementThe Nigeria Deposit Insurance Corporation (NDIC) has secured a landmark judgement to the tune of N556,493,034.16(Five Hundred and Fifty-Six Million, Four Hundred and Ninety-Three Thousand, Thirty-Four Naira and Sixteen Kobo Only) in favour of depositors of Lead Merchant Bank Limited (in-liquidation). The judgement was recently delivered by Honourable Justice Ibrahim N. Buba of Federal…

NDIC BOSS REFUTES RUMOURS OF FINANCIAL DISTRESS IN BANKS

The Managing Director/Chief Executive of Nigeria Deposit Insurance Corporation (NDIC),Umaru Ibrahim has called on members of the public to ignore rumours of financial distress in some banks that are being circulated through text messages and social media to de-marketthose banks and destabilisedepositors’ confidence in the banking system. L-R: Nigeria Deposit Insurance Corporation (NDIC) MD/CEO, Umaru…