Tag
NDIC
News and stories about NDIC
The recent liquidation of Heritage Bank and the attendant apprehension over depositors’ money has raised more concerns for users of fintech companies licensed to operate as mobile money operators (MMOs) such as Opay, Palmpay, and Paga, among others.
OPay has delivered reassuring news to its users: all funds are now insured up to 5 million Naira under the Nigeria Deposit Insurance Corporation.
The Nigeria Deposit Insurance Corporation (NDIC) has stated that discrepancies in account names linked to the Bank Verification Numbers (BVN) of some former Heritage Bank customers are delaying their insured deposit payments.
The Central Bank of Nigeria (CBN) has said it is working on a new regulation aimed at improving the level of compliance and corporate governance practice by fintechs in the country.
Multichoice Group, owners of DSTV, had an account balance of N31.6 billion with Heritage Bank, before the bank’s liquidation.
Nine publicly listed commercial banks paid a sum of N166.4 billion as deposit insurance premium to the Nigerian Deposit Insurance Corporation (NDIC) in 2023, a 29.3% increase compared to the N128.7 billion recorded in the previous year.
The Nigeria Deposit Insurance Commission (NDIC) says it will begin payment to 2.3 million depositors of the Heritage bank this week.
The Central Bank of Nigeria (CBN) has firmly denied allegations suggesting that it plans to revoke the licenses of three more banks following its recent regulatory action against Heritage Bank Plc.
Peter Obi, the Labour Party’s presidential candidate from the last election, has urged the federal government and the Nigeria Deposit Insurance Corporation (NDIC) to immediately fully reimburse depositors of Heritage Bank following the recent revocation of its license by the Central Bank.
In a surprise move, the Central Bank of Nigeria (CBN) announced it has revoked Heritage Bank's operating license, effectively closing the institution and placing depositors at the mercy of the Nigeria Deposit Insurance Corporation (NDIC).
The Nigeria Deposit Insurance Corporation (NDIC) has said that it has started the liquidation process of Heritage Bank Plc following the revocation of its banking license by the Central Bank of Nigeria (CBN).
The Central Bank of Nigeria (CBN) has revoked the licence of Heritage Bank Plc with immediate effect.