Business Briefs
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THE Nigeria Deposit Insurance Corporation, NDIC, has called on depositors who lost their money in liquidated banks to file their claims through the zonal offices of the corporation or any of the 10 banks appointed for the payment across the nation.
Umar Ibrahim, managing director, NDIC, who spoke on Wednesday, November 30, in Kano, at NDIC special day at the ongoing 37th Kano International Trade Fair, named the appointed banks to include First Bank of Nigeria, United Bank for Africa, Zenith Bank, Wema Bank, Heritage Bank, Union Bank, Fidelity Bank, Skye Bank, Unity Bank and Diamond Bank.
The NDIC boss, however, lamented the activities of ‘Wonder Banks,’ just as he warned members of the public to be wary and desist from patronising banks which he described as fraudulent.
“I wish to sound a note of caution to discerning members of the public to beware and avoid any contact with these fraudsters as many unsuspecting public are still falling victims to the mouth-watering offers of hot returns. Members of the public are therefore advised to patronise insured banking institutions that display the NDIC stickers in their banking halls or entrances,” he said.
According to Ibrahim, NDIC in collaboration with Bank Customers Association of Nigeria, BCAN, recently organised a town hall meeting in Kano, in recognition of the importance of the public awareness in the advocacy and engagement with all stakeholders for purpose of financial education and the role of NDIC in bank customer’s protection.
“The deposit guarantee therefore covers over 90 per cent of bank depositors while those whose deposits fall above this limit of coverage are equally entitled to the insured sum additional collection referred to as liquidation dividend realised from disposal of physical assets and debts recovery.
The maximum deposit insurance coverage, MDIC, per depositor per bank has progressively increased from N50, 000 as at inception in 1989 to its current N500, 000 per depositor per deposit money bank, DMB.
— Nov 28, 2016 @ 01:00 GMT
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