If a Husband and Wife or any two or more Persons, have, in addition to their Individual Accounts, a Joint Account in the same Insured Bank, is each Account Separately Insured?

• Related Articles

• Are Accounts Held by a Person as Executor, Administrator, Guardian, Custodian, or in Some Other Similar Fiduciary Capacity Insured Separately from His or Her Individual Account?

  Yes. If the records of the bank indicate that the person is depositing the funds in a fiduciary capacity such funds are insured separately from the fiduciary’s individually-owned account. Funds in an account held by an Executor or Administrator are ...

• FAQs and Facts About DIS in Nigeria

  Introduction This section presents a set of Frequently Asked Questions (FAQs) and Answers that would give more insights on the concept and practice of DIS in Nigeria as well as new developments in the financial services industry. Question 1: What is ...

• FAQS and Facts about Deposit Insurance in Nigeria

  FAQs and Facts About DIS in Nigeria Introduction This section presents a set of Frequently Asked Questions (FAQs) and Answers that would give more insights on the concept and practice of DIS in Nigeria as well as new developments in the financial ...

• Is an Account Held by either a Company or Partnership, Insured Separately from the Individual Accounts of Shareholders or Partners?

  Yes. If the Company or Partnership is engaged in an independent activity, its account is separately insured up to the maximum insured sum. The term Independent activity means any activity other than one directed solely at increasing insurance ...

• If a Depositor has an Account in the Main Office of a Bank and also at a Branch Office, are these Accounts Separately Insured?

  No. The main office and all branches are considered to be one institution. Therefore, the accounts would be added together and covered up to the maximum insured sum.