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By Tony Obiechina In most countries, banks are the most important financial institutions for intermediating between savers and borrowers, assessing risks, executing monetary policy, and providing payment services. At the same time, the configuration of their portfolios makes them especially vulnerable to illiquidity and insolvency. In particular, by law, bank deposits have to be repaid
The Nigerian Government has reviewed upward the Maximum Deposit Insurance Coverage for banks operating within the country. In a recent briefing with
* Aim To Boost Public Confidence - MD....Welcome Development- Uwaleke By Tony Obiechina, Abuja In its determination to enhance depositors’ protection and public confidence, the Nigerian Insurance Deposit Corporation (NDIC) on Thursday raised the maximum deposit insurance coverage for Deposit Money Banks from N500,000 to N5m. The Managing Director of NDIC, Mr Hassan Bello who
The NDIC’s Interim Management Committee (IMC) approved the adjustment during its 18th meeting on 24 and 25 April
The Nigeria Deposit Insurance Corporation has announced a revision of the Maximum Deposit Insurance Coverage for banks operating within the country.