NDIC safeguards depositors money

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The Managing Director and Chief Executive Nigeria Deposit Insurance Corporation, Alh Bello Hassan has said depositors money is safe.

Alh Bello Hassan revealed this at the NDIC’s day at the ongoing 44th Kaduna International Trade Fair in Kaduna.

He gave the assurance to the general public that there is no need for any depositor with any Bank amongst Nigerian Banks, because nothing bad is going to happen to his money.

Alh Bello, who was represented by Ibrahim Tanko said very soon things are going to be normal, the shortage of money will be history.

“In order to consistently educate depositors, stakeholders and the general public about the presence of the Deposit Insurance Scheme (DIS) its advantage, and its drawbacks, the corporation has participated in the Kaduna International Trade Fair over the years”.

It is significant to us as it will enhance public confidence in the financial system. “If people are aware that their deposits are safe and that in the unusual event of a bank failure, a government agency will protect depositors, especially small savers”.

The corporation protects, through the discharge of its mandate in four critical ways namely: by guaranteeing deposits in banks, by supervising the banks in conjunction with the Central Bank of Nigeria ( CBN) to ensure that they are run in efficient manner in line with extant laws and regulations, by resolving issues of distressed banks to reduce instances of failure, and ensuring orderly and efficient liquidation of failed  banks to prevent disruption to the payment system.

“I therefore like to call on depositors, creditors and shareholders of the listed closed banks to avail themselves of the verification platforms provided by the corporation to claim their funds.

 “They are at liberty to visit any of the corporations nearest offices physically or utilize the NDIC App online or visit the claim page on our website: www.ndic.gov.ng to expedite the processing of their claims.”

The NDIC presented a gifts to people that participate during their day at 44th  Kaduna International Trade Fair, 2023.

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