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MR BELLO HASSAN
The Nigeria Deposit Insurance Corporation (NDIC) has announced a substantial increase in the maximum deposit insurance coverage levels across various banking sectors. Effective immediately, the new coverage adjustments were revealed during a press conference held by the NDIC's MD/CEO, Mr. Bello Hassan, on May 2, 2024.
The Nigeria Deposit Insurance Corporation (NDIC) has said it is recovering over N400 billion from debtors of liquidated banks, who are unwilling to repay their debts.
the potential threats at present, include the Russia-Ukraine war, cyber threats posing increasing risks to financial institutions, slow growth, increasing inflation, and tighter global financial conditions
Nigeria Deposit Insurance Corporation (NDIC), stated that bank failures are caused by officers entrusted to look after the institutions.
The NDIC has stated that the banking sector is now immunized to withstand shocks that may impact the economy and the financial system.
The NDIC has created a SCV platform that will be deployed to microfinance banks to avoid delays in depositor reimbursement in the event of a bank failure.