Managing Director, NDIC, Alhaji Umaru Ibrahim
The Nigerian Deposit Insurance Corporation has said that it paid a cumulative insured deposit of N6.682bn to depositors of 48 banks in liquidation as at August 2012.
The Managing Director, NDIC, Mr. Umaru Ibrahim, said the amount was against the N6.636bn paid to 527,942 depositors in December 2011. He spoke in Lagos on the occasion of the corporation’s Special Day at the 2012 Lagos International Trade Fair.
Ibrahim, who was represented by the Director of Asset Management Department, NDIC, Mr. Olarewaju Sulaiman, said a cumulative dividend of N77.384bn had also been paid to depositors, whose claims were in excess of the insured amount in the 48 banks as at August. This figure, he said, was against N73.553bn paid to depositors for the same period last year.
He said, “It is instructive for me to say that the NDIC has been resolutely committed to its mandate since it commenced operations in the last two decades. We have also contributed immensely to the various banking reforms that had been witnessed in the Nigerian banking sector and the dynamics of the global financial market.”
Ibrahim stated that N2.45bn had been paid to depositors of the 103 microfinance banks that had ceased to operate as at August 31, 2012. This was against the sum of N2.25bn paid to the insured depositors of the closed MFBs as at the end of December last year.
The theme of the fair was, “Promoting Trade for Sustainable Economic Transformation.”
He said the theme bore eloquent testimony to the posture of the Lagos Chamber of Commerce and Industry, as a key player and organiser of the fair, in the quest for the realisation of Nigeria’s Vision 2020 and the transformation agenda of the Federal Government.
The NDIC boss said the corporation had a crucial role to play towards the safety, soundness and stability of the financial system.
According to him, the key mandate of the corporation is to provide financial guarantee to depositors of the insured financial institutions in event of failure, with a view to enhancing public confidence in the nation’s banking system.
Headlines Newsview all
The actor has opened up about the scary experience, as he almost plummeted to his death when the branch he was holding snapped Idris Elba almost ... Full story
SHOCKING: Model Has 15 Surgeries SIX RIBS Removed, To Look Like Cartoon Character Jessica Rabbit (Video)
Pixee Fox is just 25 and has already had 15 surgeries on her bottom, breasts, nose, eyelids and brow A woman who is transforming herself from ... Full story
The Federal Government again on Thursday stalled the commencement of the trial of a former Minister of Niger Delta, Godsday Orubebe, with a proposal to ... Full story
Rate this article
- Sunday Oliseh Shouldn’t Succumb To Pressure —Ex-Nigeria Keeper, Abiodun Baruwa
- I Don’t Need Arsenal Goals - Mesut Ozil
- I Will Professionalise IIndependent National Electoral Commission - Prof. Mahmood Yakubu
The Senate on Thursday asked the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to end the current scarcity of petrol within two weeks. The ... Full story
Still in the thanksgiving mood, pregnant Nollywood actress, Mercy Johnson Okojie, is really having a nice time with her family as they continue to travel ...
Recently, renowned music producer, Don Jazzy, turned 33 and in celebrating his day, he used the opportunity to release the video of the much talked ...
Former Chelsea striker Didier Drogba says he has an agreement to return to the club once he finishes playing and wants it to be as ... Full story
Your feet move you through the world and they also need care, try these 5 steps to keep your feet looking fabulous 1. Moisturize. If your heels ...
Nollywood actress, Halima Abubakar, is seriously busy with private business and moving from one movie location to the other when the need arises but it ...
Controversial Nigerian singer, Maheeda, is one person that seems not be controlled by any rules as she is always set to do things that makes ...
Ghanaian singer, Stonebwoy, has disclosed that he so much loved his late mother, that sometimes he mistakenly dials her number forgetting that she is late. Stonebwoy’s ...
Nollywood actress, Doris Simeon, is not just making headway in her acting career and business as a result of hard work alone but through the ...