The Nigeria Deposit Insurance Corporation (NDIC) is considering an advance payment of insured deposits once the licence of any insured institution is withdrawn by Central Bank of Nigeria (CBN). This initiative was disclosed by the NDIC Managing Director/Chief Executive, Alhaji Umaru Ibrahim last Monday when he received the Chairman and […]
Tag: Depositors
NDIC Plan Cover for Mobile Banking-Ibrahim
By Peter OBIORA InvestAdvocate Wednesday December 04, 2013 Uyo (INVESTADVOCATE)-The Nigeria Deposit Insurance Corporation (NDIC) Wednesday said it will provide insurance cover for mobile banking customers from 2014. Umaru Ibrahim, Managing Director/Chief Executive Officer (MD/CEO) of the Corporation made this disclosure at a question and answer session after […]
Regulator fines Bank of Cyprus for non-disclosure on Greek debt
Cypriot financial regulators have fined Bank of Cyprus BOC.CY and six of its former executives for failing to give shareholders information on the lender’s Greek government bond holdings, which almost bankrupted it. Large depositors were forced to recapitalize the bank this year after it reported massive losses on its Greek […]
