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The NDIC is parastatal under the Nigerian Ministry of Finance. The corporation is charged with protecting the banking system from instability occasioned by runs and loss of depositors' confidence. [2] It operates under the Nigeria Deposit Insurance Corporation Act (1990). [3] The NDIC is a member of the Financial Reporting Council of Nigeria. [4]
In this list of financial regulatory and supervisory authorities, central banks are only listed where they act as direct supervisors of individual financial firms, and competition authorities and takeover panels are not listed unless they are set up exclusively for financial services.
Nigeria Deposit Insurance Corporation (NDIC) Nigeria Investment Promotion Commission (NIPC) Nigerian Export - Import Bank (NEXIM Bank) Nigerian Export Promotion Council (NEPC) Oil and Gas Free Zones Authority (OGFZA) Nigeria Export Processing Zones Authority (NEPZA) Revenue Mobilisation Allocation and Fiscal Commission (RMAFC)
Deposit Insurance, Federal Deposit Insurance Corporation. Accessed November 18, 2024. Accessed November 18, 2024. SoFi Receives Regulatory Approval to Become a National Bank , SoFi.
If deposit insurance is provided by another business or corporation, like other insurance agreements, there is a presumption that the insurance corporation would either charge higher rates or refuse to cover banks that engaged in extremely risky behavior, [87] which not only solves the problem of moral hazard but also reduces the risk of a bank ...
If you deposit $245,000 and accrue $5,000 in interest, you are insured for the principal plus all your interest because it doesn’t exceed the $250,000 FDIC insurance limit.
The Chartered Institute of Bankers of Nigeria (CIBN) is the umbrella professional body for bankers in Nigeria. The CIBN was incorporated in 1976 as the Nigerian Institute of Bankers. It was chartered in 1990, and is now covered by the CIBN Act 5 of 2007. The Institute is authorized to regulate the banking profession, set standards for bankers ...
Part Appropriation Act, 1956: 9: South Africa Act Amendment Act, 1956: 10: Official Languages (Local Authorities) Amendment Act, 1956: 11: Atomic Energy Amendment Act, 1956: 12: Unauthorized Expenditure (1954–1955) Act, 1956: 13: Animal Diseases and Parasites Act, 1956: 14: Railways and Harbours Unauthorized Expenditure Act, 1956: 15