Mr Bello Hassan, Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), has assured depositors that in the event of failure of a bank, above 97 per cent of depositors would be fully covered by the Corporation.
Hassan gave the assurance at the 2021 FICAN Workshop organised by NDIC for Finance Correspondents and Business Editors on Tuesday in Gombe.
The News Agency of Nigeria (NAN) reports that the workshop, the 19th edition, has “Enduring Extreme Disruption: Resilience and Reinvention for Banking System Stability and Deposit Insurance” as theme.
Hassan said that the corporation’s total number of accounts in the deposit money banks in 2016, 2017, 2018 and 2019, stood at 83.0 million; 99.1million; 112.0 million and 128.4 million respectively. (Guardian)