N105bn paid to 442,651 depositors of closed Banks

Nigeria Deposit Insurance Corporation (NDIC) has revealed that as at the end of September 2017, the corporation paid N105billion to 442, 651 depositors of closed deposit money banks.
NDIC added that the payment is part of the corporation’s mandate of guaranteeing depositor’s savings.
The Managing Director, Umaru Ibrahim, said this at the NDIC’s day at the 38th Kano International Trade Fair.
According to him, the Corporation also paid N2.88billion to 525, 009 depositors of closed micro finance banks and N60million to closed mortgage banks all in 2017.
He said that NDIC will continue to be at the forefront of implementing the National Financial Inclusion Strategy (NFIS) to reduce the number of adult Nigerians that do not have access to financial services from 46.3 percent in 2010 to 20.0 percent by 2020.