NDIC pays N6.68bn to failed banks’ depositors

// News | General | NDIC pays N6.68bn to failed banks’ depositors
Email to a friend Plain text Print version // Font size: Decrease font Enlarge font
Managing Director, NDIC, Alhaji Umaru Ibrahim

Managing Director, NDIC, Alhaji Umaru Ibrahim
| credits:

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.

Tagged : No tags for this article

Headlines Newsview all

Ghanaian Actress Nadia Buari Gives Birth To Twins, Could Jim Iyke Be The Father?

Rumours that Nadia Buari was pregnant some few months ago has turned out to be true and the Ghanaian actress has given birth to twins—that ... Full story

16yr Old Robs, Rapes 52yr Old Woman Saying Her Naked Body Turned Him On

16 year old SS1 student, Abdulateef Asamu (pictured above) has been arrested by the Ogun state Police command for robbing and raping his neighbor, a ... Full story

Ex- Militant Leaders From Niger Delta Warns Obasanjo, Buhari To Stop Instigating Nigerians Against Jonathan

Ex-militant leaders from Nigeria’s Niger Delta zone last weekend warned former President Olusegun Obasanjo and the presidential candidate of the All Progressives Congress (APC), Muhammadu ... Full story

The Heartbreaking Act A Wicked Woman Did To Her Daughter

LOOKING at the picture of two-year-old Lovelyn William will elicit tears from the heart of any human being. Naked, with her mouth tapered, hands tied ... Full story

Nine Secrets You Think You Know About Jesus That Are Probably Wrong

Jesus has been described as the best known figure in history, and also the least known. If you mentioned the name “Jesus” and someone asked ... Full story

Woman Wires $1.4 MILLION To Online Lover In Africa She's Never Met

A woman has defended her decision to sent $1.4 million to her online lover in Africa - who she has never met. Twice-divorced Sarah met Chris ... Full story

Yoruba Actress Bose Arowosegbe Says All Women Are Prostitutes

Yoruba actress Bose Arowosegbe has said that all women are prostitutes and not only actresses. She insisted that women in other field sell their bodies to ... Full story

Jibola Dabo regrets acting gay with Muna Obiekwe in 'Dirty Secret'

The movie Dirty Secret  generated lots of controversy amongst Nigerians following the gay scenes between the late Muna Obiekwe and HOMEP Jibola Dabo. In a recent ... Full story

Jihadi John's Relatives Flee Home And Want New Identities

Terrified relatives of Mohammed Emwazi want to change their identities over fears of revenge at tacks, friends said yesterday. The jihadi’s parents have gone into hiding ... Full story

Alfa Fatai Aderomu, Cleric Who Poisoned Client Chopped Off His Head Hands And Other Parts Of The Body

Residents of Obele community in Oko-Agbola, Magbon area of Badagry, Lagos, were taken aback at the sight of policemen at the site of a swimming ... Full story

Lagos Hotel Where Male S3x Workers Hustle For Clients

Found this eye opening report published by PUNCH newspaper…enjoy below: The time was 7pm, penultimate Saturday. The venue was a hotel on Abaranje Road in Ikotun, ... Full story

Comment on: NDIC pays N6.68bn to failed banks’ depositors

Rate this article

0

Breaking News

FIFA Stops Ghana, Nigeria International Friendly

World football governing body (FIFA) has cancelled the proposed international friendly duel between the Nigeria's Super Eagles and the Black Stars of Ghana this month ... Full story

I Felt Like A kid - Jose Mourinho

Chelsea manager Jose Mourinho said he felt “like a kid” after claiming the first trophy of his second Stamford Bridge tenure with a League Cup ... Full story

Photos Of Genevieve Nnaji's $4million Mansion in Accra, Ghana (PHOTOS)

A few days ago we found out the pretty Nollywood actress and single mother had just bought herself a $4million mansion in the Achimota area ... Full story

Fuel Undersupply Worsens As Nigerian National Petroleum Corporation Promises Improved Supply

The fuel crisis across the country worsened, weekend, as most of the petrol stations were shut down leaving motorists stranded. This was in spite of claims ...

PHOTOS: First Lady Dame Patience Jonathan Hosts Entertainers In Abuja

The President Goodluck Jonathan administration has been very supportive of the Nigerian entertainment industry. Since his election into office in 2011, President Jonathan made a commitment ...

I don’t believe the Bible on sex – Queeneth Hilbert

Many writers have described Queeneth Hilbert as the most beautiful actress in Nigeria. Right or wrong, the model turned screen goddess is unquestionably beautiful with ...

Good sex turns me on – Paschaline Alex

Budding Nollywood actress, Pascaline Alex doesn’t mince words when it comes to our feelings about sex. The sexy actress has said one of the things ...

Police arrest woman who set husband ablaze over Val day fun

The police in Ekiti State have arrest­ed a 30-year-old housewife, Mrs. Bukola Olusegun, for setting her husband, 32-year-old Mr. Abimbola Olusegun, ablaze on at their ...

Jonathan Felicitates with Adeboye at 73

President Goodluck Ebele Jonathan has paid glowing tribute to the productive spiritual leadership which Pastor Enoch Adeboye continues to provide for members of his church ...

When Size Matters: 1 Week Old Marriage Crashes Over Husband's Huge Manhood

One man's meat, they say, could be another's poison. There have been certain cases where wives dump their husbands for possessing little manhood, but the ...