TODAY
Nigeria Deposit Insurance Corporation (NDIC)
The Nigeria Deposit Insurance Corporation (NDIC) on Friday explained why failed banks retain high volume of unclaimed deposits, long after they have closed.
It attributed the pool of unclaimed funds to a limited understanding and the widespread misconception of the Deposit Insurance System (DIS) in Nigeria.
The Executive Director (Corporate Services) of NDIC, Mrs Omolola Abiola-Edewor made this disclosure in her keynote address at the opening ceremony of the 2020 Sensitization Seminar for Judges of the Federal High Court in Abuja with the theme: The Challenges to Deposit Insurance Law and Practice in Nigeria.
According to her, the phenomenon has informed the concerted efforts by NDIC to continuously collaborate with the judiciary and other stakeholders in promoting sound knowledge and understanding of the deposit insurance system over the years.
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Nigeria Deposit Insurance Corporation (NDIC) on Friday revealed that a limited understanding and the widespread misconception of the Deposit Insurance System (DIS) in Nigeria was largely responsible for the pool of unclaimed deposits following bank closures.
Executive Director (Corporate Services) of NDIC, Mrs Omolola Abiola-Edewor, made this disclosure on Friday while delivering an address at the opening ceremony of the 2020 Sensitisation Seminar for Judges of the Federal High Court in Abuja with the theme: The Challenges to Deposit Insurance Law and Practice in Nigeria.
In a statement issued by Director, Communication & Public Affairs Department, Bashir A. Nuhu, Abiola-Edewor explained the phenomenon had informed the efforts by NDIC to continuously collaborate with the judiciary and other stakeholders in promoting sound knowledge and understanding of the deposit insurance system over the years.
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Ahmad Lawan
The Senate President, Ahmad Lawan, has referred the nominations of Ahmed Kuru as Managing Director; Ebelechukwu Uneze; and Aminu Ismail as Executive Directors of the Asset Management Corporation of Nigeria (AMCON) to the Committee in Banking, Insurance and other Financial Institutions for screening.
Also forwarded to the Committee yesterday during plenary were the nominations of Bello Hassan as Managing Director; and Mustapha Muhammed Ibrahim as Executive Director of the Nigerian Deposit Insurance Corporation (NDIC).
President Muhammadu Buhari in a letter dated December 7, 2020, had requested the Senate to confirm the appointments of the nominees.
According to the president, both requests were made in accordance with Section 10(1) of the Asset Management Corporation of Nigeria (AMCON) Act, 2010; and in compliance with Sections 5(4) and 8(3) of the Nigeria Deposit Insurance Corporation Act, 2010.
An accomplished public officer bows out
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Mon Dec 14 2020
Penultimate Saturday, the SEC 23 of the National Institute of Policy and Strategic Studies (NIPSS), Kuru, threw a luncheon for one of them, Umaru Ibrahim, the outgoing Managing Director of the Nigeria Deposit Insurance Corporation (NDIC).
They are a group of Nigerians, then at the top rung of their careers who were privileged to participate in the one-year long intensive course, reclusive to Kuru. NIPSS was established in 1979 and therefore SEC 23 were those that participated in the Senior Executive Course in 2001, in effect the 23rd year from the first year of inception. As you would expect the event was presided by the President of the alumni, country-wide, MD Abubakar, a former Inspector-General of Police, alongside the Monitor-General of the SEC, Eng. Mohammed Gambo Umar, a former Managing Director of FAAN.