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

Maimako Shepang, 35 Year Old Man Arrested For Selling His Wife

A frustrated 35-year-old man, Maimako Shepang has been cooling his feet in Plateau State police custody after he was apprehended for allegedly selling off his ... Full story

Ghanaian Pastor Claims T.B Joshua Sacrifices Human Lives In Order To Be Promoted In The Spiritual Realm

Do you think there may be a little truth in what this pastor is saying? Isaac Owusu Bempah of Glorious Word Ministry International (GWMI) in Accra ...

Boko Haram Militants Attack Kano College, 20 Killed, Several Injured

A bomb explosion which was preceded by sporadic gunshots left over 20 people dead and 40 injured in Kano on Wednesday. The explosion at the entrance ...

Nigerian soldiers celebrate after killing over 200 Boko Haram members in Konduga

Every time the Nigeria military reveal victory over Boko Haram, many readers are quick to ask for pictures, and that is why Nigerian troops this ...

T.B. Joshua: Hard times may test me, but cannot destroy me

The founder of The Synagogue Church of all Nations, Temitope Joshua (popularly known as T.B. Joshua), has described the recent incident in his church as ...

Zambian labour minister accuses Dangote Cement of bribery

A row is brewing between Zambia and Dangote Cement, a major employer in Africa’s second largest copper producer, after a government minister accused an executive ... Full story

Sixty-seven South Africans died in Synagogue building collapse

Sixty-seven South Africans died in the building collapse that occurred at the Synagogue Church of All Nations in Nigeria, President Jacob Zuma said in a ... Full story

Asari Dokubo: Obasanjo connived with Davies to embarrass Jonathan

In what could apparently be considered a daring move, leader of Niger-Delta Peoples Volunteer Force, NDPVF, Alhaji Dokubo-Asari yesterday exploded, saying that former President Olusegun ...

Synagogue Building Collapse: 45 year old woman walks out of rubbles after being trapped for three days

A woman of about 45 years old walked out of the rubble unaided around 2 a.m. on Tuesday as rescue efforts continued at the site ...

Anita Oyakilome Threatens Her Husband

Following the big breakup of Christ Embassy’s general overseer, Pastor Chris Oyakilome and wife Anita, it seems there is no going back for the once ... Full story

T.B. Joshua says Boko Haram may be responsible for the collapse of the Synagogue building

The founder and General overseer of the Synagogue Church of All Nations, Prophet T. B. Joshua has said Boko Haram may be responsible for the ...

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

Rate this article

0

Featured author

Mandy Heuman

Breaking News

Marriage Is A Prison Yard- Bovi

Yesterday September 18, comedian Bovi celebrated his wife as she added another year to her years. Today there seems to be a double celebration for ...

Controversial Journalist, Kemi Olunloyo Beaten To Comma

The gist reaching us has it that controversial journalist and daughter of former Oyo State Governor, Kemi Olunloyo was reportedly beaten to comma by her ...

So Tonto Dikeh Does Not How to Cook?

It is a must that every woman should know how to cook because it is the gateway to a man’s stomach.Nollywood actress, Tonto Dikeh, does ...

I'm So Sexy, And I know It- Benson Okonkwo

He is quite controversial but down-to-earth, Nollywood actor, Benson Okonkwo is a talented act one can hardly overlook in the movie world.In 2013, he bagged ...

I Can Compete With Usher Raymond in Dance………Peter

Nigeria’s pop sensation, P-Square, have continued to break barriers in making sure they get to the peak of their musical career.The Square brothers recently released ...

I Am Not in Any Relationship for Now………..Yvonne Nelson

Ghanaian actress, Yvonne Nelson, has revealed that she tries to work hard to make a living and does not depend on any man to get ...

Man In Police Net For Selling Wife

A frustrated 35-year-old man, Maimako Shepang has been cooling his feet in Plateau State police custody after he was apprehended for allegedly selling off his ...

End of war: Davido congratulates Wizkid on new album, hails 2face too

After years of serious 'beef' between talented Nigeria young superstars Wizkid and Davido, seems the later is ready to bury their differences and move on ...

Terry G Begins Serious Business With Water Distribution

Celebrities are seriously moving their way into other businesses. Few months ago, Terry G announced his venturing into sachet water popularly known as pure water ...

Check Out Omotola Jalade Ekeinde's Outfit To Blood In The Lagoon Premiere

Star actress Omotola Jalade Ekeinde was at the premiere of her movie Blood In The Lagoon which held in Houston recently and she was the ...