NDIC seeks support of NYSC members in restoring confidence in banks

The Nigeria Deposit Insurance Corporation (NDIC) has solicited the support of the National Youth Service Corps (NYSC) in restoring depositors’ confidence in banks.

A Director in the corporation, Alhaji Hashim Ahmad, made the appeal on Monday at a lecture for NYSC members in Paikoro, Niger.

He said the lecture would assist NDIC in its campaign of sensitising the public on the safety of their funds in the country’s banks.

“The general public needs to know that when they put their money in the bank, there is an organisation to protect their deposits.”

“The corps members are would-be depositors and economic players. Their understanding of the workings of NDIC is essential,” he said.

Ahmad said the NDIC was given the statutory role of guaranteeing depositors fund by repayment in cases of bank distress.

He said the refunds were made through the mandatory premium contributions made by registered banks in the country.

A corps member, Joseph Gana,said the lecture came at the time when most of them would be opening bank accounts.

“The lecture gave me an insight into how my money will be safe in case a bank faces difficulties and may have to close shop.”

“I am now in a position to enlighten others on safety of deposits in the bank. The government has done well in establishing this safety net,” he said.

The event was attended by NDIC and NYSC officials as well as serving corps members and local artistes.

NAN