Insurance Corporation reassures stakeholders of safety of deposits


The Nigerian Deposit Insurance Corporation has assured bank customers and other stakeholders of its continuous commitment to protecting their deposits and interests in the nation’s banks.

The Corporation said it would ensure that appropriate measures are taken to take care of expectations whenever a bank has liquidity or administrative challenges.

It’s Managing Director, Mr. Umaru Ibrahim said this at the Corporation’s special day at the ongoing Lagos International Trade Fair.

The special day affords an institution the opportunity to inform the public of its products and services.

Mr. Ibrahim cited the recent take-over of Skye Bank to butress the efforts of the Corporation,” the take-over of Skye Bank by its new owner, Polaris, saved the job of 6,000 workers and depositors’ money totalling N949 billion “.

He said the take-over was possible through the timely intervention of the Corporation and the Central Bank of Nigeria through the withdrawal of the bank’s operating license.

He assured all stakeholders that anyone involved in the bank’s distress would be prosecuted.

Confidence Okwuchi

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