Deposit insurance covering all eligible deposits and products in the banking system have been effectively insured, the Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, has said.
Hassan was speaking during the NDIC Special Day at the ongoing 44th Kaduna International Trade Fair, on Thursday in Kaduna.
Represented by a senior official of the Corporation, Tanko Ibrahim, the managing director listed the eligible deposits to include savings, current and fixed accounts of bank customers.
“It is worthy of note that the Corporation has been effectively and efficiently discharging its mandate from inception till date, living up to its public policy objectives.
“For instance, in the aspect of Deposit Guarantee, we are happy to state that NDIC has been highly responsive in providing coverage to all eligible deposits and products as they evolve in our banking system,” he said.
The NDIC, he said, extended deposit insurance coverage to depositors of Non-Interest Banks (NIBs), Payment Service Banks (PSBs) and subscribers of Mobile Money Operators (MMOs).
Depositors of Deposit Money Banks (DMBs); Primary Mortgage Banks (PMBs), Microfinance Banks (MBs), PSBs and MMOs, he said, had been insured up to a maximum limit of N500,000 per depositor per bank, while the Microfinance Banks are guaranteed up to a maximum limit of N200,000 per depositor per bank.
The NDIC boss also urged depositors of 20 closed banks, which declared full liquidation dividends, to come forward for verification and payment of their deposits.
“They are at liberty to visit any of the Corporation’s nearest offices physically or utilise the NDIC App, or visit the claim page on our website to expedite the processing of their claims.
“I assure all depositors and the general public that NDIC will leave no stone unturned in its commitment to the effective discharge of its mandate,” he said. (NAN)
