TheNewsGuru

Tag: NDIC

  • FEC approves N5.72bn for NDIC projects

    FEC approves N5.72bn for NDIC projects

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    by

    Bayo Millz
    in

    The Federal Executive Council(FEC) has approved N5.72 billion for the construction of Nigeria Deposit Insurance Corporation’s (NDIC) zonal office in Bauchi and for 12 consultancy services for development of NDIC’s offices. Minister of Finance Zainab Ahmed disclosed this while briefing State House correspondents after FEC meeting presided over by Vice President Yemi Osinbajo on Wednesday…

  • Liquidation: NDIC commences verification of Fortis Microfinance bank depositors

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    by

    Olaotan Falade
    in ,

    All insured depositors of Fortis Microfinance Bank Plc have been asked visit branches of the financial institution in order to authenticate that they have funds in the bank. This became necessary after the Nigeria Deposit Insurance Corporation (NDIC) revoked the operating licence of the lender and officially liquidated it. As you read this article, operations…

  • NDIC shutdowns Fortis Microfinance Bank

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    by

    Olaotan Falade
    in ,

    The Nigeria Deposit Insurance Corporation (NDIC), has announced the official liquidation of Fortis Microfinance Bank and its branches nationwide. The corporation made this known in a press statement posted on its official website. It assured insured depositors of the repayment of their monies. The statement reads: “The Nigeria Deposit Insurance Corporation (NDIC), the official Liquidator…

  • Senate confirms Festus Keyamo, five others as NDIC members

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    by

    Olaotan Falade
    in

    The Senate on Wednesday confirmed senior Nigerian lawyer, Festus Keyamo, as a member of the Nigerian Deposit Insurance Corporation (NDIC). It also confirmed Ronke Sokefun as Chairman and Garba Bello, Josef Okoloagu, Mustapha Mudashiru and Adewale Adeleke as members of the corporation. One other nominee, Garba Buba, was, however, not confirmed because he did not…

  • Confirmation of Abike Dabiri-Erewa as NDC Chair suffers delay

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    by

    Ediri Oyibo
    in

    The Nigerian Senate on Wednesday failed to confirm Abike Dabiri-Erewa for appointment as Chairman and Chief Executive Officer of Nigerian Diaspora Commission (NDC). TheNewsGuru (TNG) reports the Senate referred the executive communication requesting her confirmation to the Committee on Diaspora. President Muhammadu Buhari had appointed Dabiri-Erewa as Chairman and Chief Executive Officer of the NDC…

  • Beware of “wonder banks”, NDIC warns Nigerians

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    by

    Olaotan Falade
    in ,

    The Nigeria Deposit Insurance Corporation (NDIC) has urged Nigerians to be wary of “wonder banks” that give extraordinary interest rates and profits on investments. Its Managing Director, Alhaji Umaru Ibrahim, gave the advice in an address at the NDIC Special Day at the ongoing 29th Enugu International Trade Fair in Enugu on Thursday. Umaru, who…

  • Ignore rumours of financial distress in Banks – NDIC MD

    Ignore rumours of financial distress in Banks – NDIC MD

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    by

    Olaotan Falade
    in ,

    The Managing Director of Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, has urged the public to ignore rumours of financial distress in some banks. A statement by the NDIC said that rumours were being circulated via text messages and social media to de-market those banks and destabilise depositors’ confidence in the banking system. The…