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
South African Pastor, Lesego Daniel,alleged invoked a gay spirit into a male member during a church service. South African Pastor, Lesego Daniel of the End Times ... Full story
The highly sought-after singer reveals her selling point in a recent interview and how she came about it. Nigeria's leading female reggae/dancehall star, Cynthia Morgan has ... Full story
Rev. Juan Andres Quevedo-Bosch, 59, came on pulpit to give Sunday sermon and announced that he is gay and that he is divorcing his wife ... Full story
Rate this article
- Whitney Houston's daughter Bobbi Kristina Brown tragically passes away aged 22
- Timaya Denies Rape Accusation, Says It Was Consensual
- Afrocandy Exposes Nigerian Pastors Who Are Always On Her P0rn Site
Will the crisis trailing Nigerian singer, Timaya, ever stop? Recently, the lady accusing the singer of rape, Sheila B and a fellow American base lady, ...
Barbara, the babymama of controversial singer, Timaya, seems not to be bothered with the controversies trailing the father of her two children. It is no longer ...
Nigerian singer, Timi Dakolo, has joined his voice with others who have kicked against sexual molestation of women in the society. Timi Dakolo, who has thrown ...
An African adage says, ‘a clear conscience fears no accusation’, but this may not have been the case with controversial radio presenter in Lagos, Ifedayo ...
Ace Nigerian comedian, Bright Okpocha better known as Basketmouth, was recently deep in thought and after a while, he bore his mind to his fans. An ...
The Abuja office of the Department of Petroleum Resources has closed 22 filling stations in the Federal Capital Territory and its environs as a result ...
The hitherto lucrative business that was thriving for Nollywood stars in Nigeria is now being threatened by some upcoming actors and actresses, that are desirous ...
Last week, news went viral online that Nigerian actor, Hanks Anuku, who now lives in Ghana, was arrested in the neighbouring West African country. They were ...
Multiple award-winning singer, Wizkid, has stated that he used to dream of having luxuries of life while growing up. He however disclosed that now that ...