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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]
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)
The NDIC provides a safety net for depositors in the newly liberalised banking sector. [4] Vincent chaired a seminar on Ethics and Professionalism in the Nigerian Banking Industry in August 1992. In his opening remarks, he observed that banks had a pivotal role in the cash and credit economy of Nigeria, making them vulnerable to suspicion.
Deposit Insurance, Federal Deposit Insurance Corporation. Accessed November 18, 2024. Accessed November 18, 2024. SoFi Receives Regulatory Approval to Become a National Bank , SoFi.
Nigeria Deposit Insurance Corporation, an independent agency of the Federal Government of Nigeria This page was last edited on 31 July 2018, at 09:54 (UTC). Text is ...
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.
2. Open an account in a different ownership category. If you want to keep all your money in one FDIC-insured bank, you may be able to insure deposits of more than $250,000 by opening different ...
She worked with Crescent high insurance brokers from 1990 to 1999 [1]. Abiola-Edewor represented Lagos Apapa federal constituency in the national assembly for two terms from 1999 [4] to 2007,first under the platform of Alliance for Democracy for four years then under the Peoples Democratic Party for another four years.