NDIC pays N69.65bn to depositors of failed banks
The Nigeria Deposit Insurance Corporation has paid a cumulative N69.65bn to insured depositors of failed financial institutions to protect customers. Read More: https://punchng.com/ndic-pays-n69-65bn-to-depositors-of-failed-banks-2/
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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