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

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 ...

Wole Soyinka - Jonathan knows about Boko Haram financier in CBN

The controversy over alleged sponsors of Boko Haram took a twist yesterday when Nobel Laureate Wole Soyinka said information about a suspected financier of the ...

TB Joshua Claims He Was The Target Of Attack In Church Building That Collapsed

Head of The Synagogue Church of All Nations, Prophet T B Joshua, yesterday declared that the collapse of a section of the church complex, which ...

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

Rate this article

0

Breaking News

I Want To Be Rita Dominic's Boyfriend- Emmanuel Ikubese, Mr. Nigeria 2014

Current Mr. Nigeria 2014, 25-year-old actor and model, Emmanuel Ikubese also emerged second runner up and the most stylish of all the contestants at the ...

I Am Going Through Trial Times Now……….Prophet T.B Joshua

General overseer of the Synagogue church of All Nation, Prophet T.B Joshua, has taken to his social media page through a press release, to reach ...

Patience Jonathan is Still Marketable…………..Charly Boy

Social crusader and singer, Charles Oputa aka Charly Boy, is at it again this time with wife of President Goodluck Jonathan, Patience Jonathan.The AreaFada as ...

Celebrity Birthday: 2face Idibia Clocks 38

Today September 18, 2014, Nigerian award winning artiste, 2face idibia is a year older. The music artiste who just lost his father few weeks ago ...

Bovi gushes sweet words to wife, as she marks birthday

One of Nigerian's top comedians, Bovi Ugboma aside been known for his comic acts is also a very romantic man who doesn't joke with wife ...

Tiwa Savage Gets Attention Of Another Woman's Husband

Do you have a story/gist for publication? Please email it to story@nigeriafilms.com Shakaya | 9/18/2014 10:59:03 AM She dressed half naked n shakin or rollin ha waist ...

Family Announces Burial Arrangements For Veteran Journalist, Pastor Dimgba Igwe

Still with heavy pains and shock, the family of late Pastor Dimgba Igwe, the Associate Publisher of Entertainment Express and Sunday Express Newspapers has finally ...

Why I Haven't Seen My New Born Baby- Chigozie Atuanya

Just few days ago, precisely on Saturday September 6, 2014, Nollywood actor Chigozie Atuanya and his wife Obianuju Oranika Atuanya welcomed their first child, a ...

I Don’t Care How You Perceive Me, I Am Who I Am………….Jim Iyke

Nollywood actor, Jim Iyke, has expressed his feelings to fans that he owns his words but owe people the interpretation to anything he says or ...

I Am Neither Proud Nor Arrogant- Joseph Benjamin

Joseph Benjamin is a multi-talented Nigerian Nollywood actor who got his big break as the co-host of MTN Project Fame West Africa Season II (a ...