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 (NDIC) has announced that it has paid a total of N69.65bn to depositors of failed banks, in an effort to protect bank customers and maintain confidence in the banking system. NDIC Director of Strategy Development, Mrs Gwa Uduak, revealed the cumulative payments during the opening ceremony of the corporation's 2026 Customer Service Week in Abuja.
The payments, which include N1.48bn to insured depositors of failed microfinance banks and N1.15bn to depositors of Union Homes Savings and Loans Plc, demonstrate the NDIC's commitment to safeguarding depositors and reducing financial hardship.
Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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