The NDIC insures bank deposits of natural
persons as well as legal entities, whether they are from Nigeria or from any
other country but resident in Nigeria.
Not all deposits in insured institutions are covered by the NDIC. All deposits of a licenced bank or any other insured deposit-taking financial institution shall be insured with the NDIC with the exception of the following: i.Inter-bank takings; ...
Announcements would be made through the media (television, radio, newspapers) and NDIC posters at the Head Offices and branches of the closed banks as to when the payment of deposits would commence.
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 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 ...
No. NDIC finances all its overhead and administrative expenses from its investment income. The main source of income for the NDIC is the proceeds from investment of the insurance fund in securities issued by the Federal Government. The insurance fund ...