NDIC Disburses N1.48 Billion to 10,312 Depositors of Failed Microfinance Banks
• MD says service excellence, technology, stronger processes central to depositor protection Deji Elumoye in Abuja Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday, yesterday disclosed
The Nigeria Deposit Insurance Corporation has paid a total of N69.65 billion to depositors of failed banks, as part of its efforts to protect bank customers and maintain confidence in the banking system. Mrs. Gwa Uduak, the Director of Strategy Development at the NDIC, announced this during the opening ceremony of the corporation's 2026 Customer Service Week celebration in Abuja.
The payments were made to both insured and uninsured depositors. Uduak emphasized that each payment represented a deposit holder, family or business seeking assurance during financial uncertainty. NDIC's responsibilities include deposit guarantees, banking supervision, resolving distressed financial institutions and liquidating failed banks.
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- NDIC pays N69.65bn to depositors of failed banks punchng.com
