NDIC assures deposit safety, no reliance on government bailout

The Nigeria Deposit Insurance Corporation (NDIC) says it does not rely on government bailouts to reimburse depositors in the event of a bank failure. Instead, the NDIC uses the Deposit Insurance Fund (DIF), which is primarily funded through premiums paid by licensed deposit-taking banks. The clarification was made by Mr. Thompson Oludare Sunday, the Managing Director and Chief Executive Officer

Read More