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Nigeria: NDIC - Why Pool of Deposits in Closed Banks Remain Unclaimed allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
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. ....