Nigeria Deposit Insurance Corporation (NDIC) said it has paid a total of N119.101bn as at 29 December 2021 as insured sum to 535,815 depositors, creditors and shareholders of closed banks, while a total of N101.117bn had been paid as uninsured sum.
The Managing Director and Chief Executive NDIC, Bello Hassan who announced this at the Enugu International Trade Fair, said that NDIC would not rest on its oars in its unrelenting efforts to protect depositors through prompt operations to novel developments in banking system as they evolve.
The chief executive represented by Zonal Controller, NDIC Enugu Office, Stella Henshaw called on the general public, especially traders and businessmen to always save money in licensed banks where their savings are protected by the NDIC.
He also called on people to always endeavour to report all cases of dubious activities by banks to both the NDIC and the CBN.
“For ease of insured depositors, the Corporation’s website is activated and monitored to enable depositors and other claimants of closed banks in-liquidation to make use of on-line filing to process their claims. Depositors and other claimants are urged to continue to avail themselves of this opportunity to file their claims by visiting the “Claim Page” on NDIC website (www.ndic.gov.ng),” he said.
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He commended Enugu Chamber of Commerce, Industry, Mines and Agriculture for the theme of the Fair, ‘Opening Up Nigeria Business Windows for Competitiveness in the Emerging Global Market’ as it aligns with the Federal Government National Development Plan and sectoral interventions targeted at supporting Small and Medium scale Enterprises, boosting industrial development, improving competitiveness in international market.
He said that the mandate and operations of the NDIC focuses on the protection of depositors, especially small and less-sophisticated ones against the risk of bank failure, thereby contributing to the stability of the financial system.
In a remark, Jasper Nduagwuike, president of ECCIMA, commended NDIC for being part of the Fair, saying that NDIC had over the years splendidly discharged its duties that one can only wish that other regulatory agencies would emulate their ways of operations.
“It is worthy of note. For so long, we have forgotten what bank failure feels like and thanks to NDIC for that achievement,” he said.
He however, advised the NDIC to ensure that it does not allow anything to “take us back to the past.”
