NDIC pays N69.65bn to depositors of failed banks

The Nigeria Deposit Insurance Corporation (NDIC) has paid a total of N69.65bn to insured depositors of failed banks, as part of its efforts to protect bank customers and maintain confidence in the banking system. Speaking at the opening ceremony of the corporation's 2026 Customer Service Week, Mrs Gwa Uduak, Director of Strategy Development at NDIC, emphasized the corporation's commitment to deposit protection and reducing the financial hardship associated with bank failures. The NDIC has also made payments to uninsured depositors through its bank liquidation activities.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.