By Oluwaseun Sonde
The Managing Director of Nigeria Deposit Insurance Corporation, NDIC, Bello Hassan has urged Nigerians to always save money in licensed banks where their savings would be protected by the Corporation.
Hassan who made the appeal during the 33th Enugu International Trade Fair in Enugu on Friday, revealed that the Corporation has paid N119.1 billion as insured sums to 5535, 815 depositors, creditors, shareholders of closed banks as at Dec. 29, 2021, while a total of N101. 117 billon paid as uninsured sums.
He assured Nigerians that NDIC will not rest on its oars in its unrelenting efforts to protect depositors through prompt operational responses to new developments in the banking system.
Hassan noted that the Corporation has declared full payment of insured and uninsured sums to depositors of 18 banks in-liquidation.
“This implies that the corporation has realised liquidation dividends to pay all depositors of the banks who present themselves for payment.
"We've promptly responded to emerging issues in the emergence of Fintech and other forms of digital financial services with a view to extending Deposit Insurance Coverage to new financial services", he added.
He stated that the mandate of the Corporation is to focus on the protection of depositors, especially, small and less-sophisticated ones against the risk of bank failure.
"A sound and stable financial system was the pivot upon which the economic system of any nation rests", Hassan said.
NDIC Boss appealed to Nigerians to endeavour to report cases of dubious activities by banks to Central Bank of Nigeria (CBN) and the NDIC through this phone number 080063424357.
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