NDIC Assures Depositors, Says No Bank is in Distress


The Managing Director/Chief Executive Officer, Nigeria Deposit Insurance Corporation, Alhaji Umaru Ibrahim, has called on members of the public to ignore rumours being circulated through text messages and in the social media of financial distress in some banks.

He stated that the aim of the messages was to de-market the banks and destabilise depositors’ confidence in the banking system. Ibrahim stated these during a courtesy call on the corporation by the executive members of the Alumni Association of the National Institute, Abuja Chapter, led by its Chairman, Bola Balogun.

The NDIC boss said the corporation had over the years played a very critical role in ensuring that banks were safe and sound through effective supervision. This, he added, was being achieved through financial and technical assistance to deserving financial institutions and adoption of timely failure resolution options to problematic banks





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