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 federal capital territory (FCT) high court has granted bail to the embattled Senate President, Bukola Saraki, his deputy, Ike Ekweremadu, and two other accused ... Full story
For allegedly misrepresenting facts in the media coverage of one of its proceedings in the ongoing trial of Nigeria’s former Head of Service, Mr. Stephen ... Full story
There are strong indications that the Defence authorities will withdraw some war-tested soldiers from the North-East and deploy them in the Niger Delta as part ... Full story
Rate this article
- Boko Haram Saga : Parents Of Kidnapped Chibok Girls Leave For Cameroon To Confirm Arrest
- LIVE UPDATES: Wike, Amaechi Vote Amid Tight Security in Rivers Rerun (PHOTOS)
- PHOTO: How Top Television Producer Was Found N*ked and Beaten To Death In Beauty Spot
Remy Ma who is an American female rapper known for notoriety like Lil Kim and the likes made herself the cynosure of all eyes at ... Full story
Yoruba actress, Toyin Aimakhu graced her Instagram page with an appealing photo of her cleavage on display. The single woman wore a beautiful native outfit ... Full story
The Central Bank of Nigeria (CBN) has made history in the Nigerian foreign exchange market as it becomes the pioneer seller of the Naira-settled OTC ...
Freeze Blasts OAPs With Fake Accent: Nigerian Radio Personalities Are Sick With 'Foreign Accent Syndrome
Freeze, who is known for making controversial comments on trending issues, addressed the issue of Nigerians speaking with foreign accent. The OAP made his comment in ... Full story
Lionel Messi cut a deeply dejected figure after his miss in the penalty shootout contributed to Argentina's defeat by Chile in the Copa America final. Repeating ...
Media reports have it that Yemi Alade's outfit to the BET awards for the year, 2016 is worth N2.5 million. The Nigerian songstress appeared in the ... Full story
Controversial Nigerian singer and now expert n*de queen, Maheeda has taken to Instagram to share suggestive and s*xy photos. The self acclaimed goddess of X ... Full story
Pastor Penuel Mnguni, is a very controversial South African pastor who is known for asking his members to do outrageous things during his services. The pastor ... Full story
Tyriece Travon Watson, the 23 year old rapper who went by the stage name Lor Scoota has been killed. He was fatally shot and killed in ... Full story
Manchester City striker Sergio Aguero has warned more Argentina players could follow Lionel Messi into international retirement after the Barcelona superstar’s shock exit. Messi called time ...