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You dey Read: “NDIC don pay N1.7bn insurance money give 22,000 customers
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“NDIC don pay N1.7bn insurance money give 22,000 customers

Nigeria Deposit Insurance Corporation (NDIC) talk say dem don pay insurance money wey pass N1.7bn give over 22,000 bank customers, after dem...

Chima Joseph Ugo
Chima Joseph Ugo December 16, 2023
Updated July 5, 2024 at 9:48 AM
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“NDIC don pay N1.7bn insurance money give 22,000 customers
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“NDIC don pay N1.7bn insurance money give 22,000 customers

Nigeria Deposit Insurance Corporation (NDIC) talk say dem don pay insurance money wey pass N1.7bn give over 22,000 bank customers, after dem revoke licenses of some Microfinance Banks (MFBs) and four Primary Mortgage Banks (PMBs).

Na di Managing Director/Chief Executive Officer, NDIC, Mr Bello Hassan, talk dis one for di 2023 NDIC Editors Forum wey happen for Lagos on Saturday.

For di meeting wey dem call 'Stocktaking of deposit insurance practice: Assessing the past, evaluating the present and forecasting the future', Hassan talk say, “Make una remember say earlier dis year na im Central Bank of Nigeria revoke di licenses of 183 institutions, wey include Microfinance Banks and Primary Mortgage Banks.

“And we quick quick advertise and tell di people wey e affect say make dem bring di documents wey dem need come for verification so that we fit pay dem di insurance money.

“So, for di matter of insurance money, we don pay pass N1.7bn give more than 22,000 customers and we dey call those customers wey no get Bank Verification Number for their accounts make dem come forward make we verify their claims so that we fit pay dem di insurance money.

“We still dey on top dat matter. So, I dey use dis opportunity beg those depositors make dem come forward so that we fit verify dem and pay their claims.”

Di oga for NDIC talk say di deposit insurance system wey di corporation put for ground na important part of di country financial safety net.

E talk say di work wey di corporation dey do na to reduce di risks and failures of banks through strict banking supervision, pay back insured depositors if bank fail, and arrange well well liquidation of failed banks.

“E dey help di efforts of di Central Bank of Nigeria to achieve a secure and stable banking system and e dey also support di fiscal authority to maintain stability inside di bigger financial system, e dey serve as di foundation for economic growth and development,” e add join.

Hassan also talk say di corporation, like other people wey dey play for financial safety net for Nigeria, don face similar challenges wey don affect di country financial system.

E talk say na mainly macroeconomic factors and di changing dimensions of di financial services industry na im cause these challenges.

E note, “Even though some of di challenges na universal, others na unique and domesticated. Na inside dis context na im NDIC align itself with di Central Bank of Nigeria’s efforts towards strengthening di banking industry through enhancing prudential thresholds and other regulatory instruments.”

Source: Prime 9ja Online Pidgin: “NDIC don pay N1.7bn insurance money give 22,000 customers

Tags: Naija
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