NDIC explains deposit payout process for failed banks, pegs coverage at N5m, N2m

The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday, has clarified how the corporation compensates depositors when banks fail, stating that insured sums are pegged at N5 million and N2 million depending on the category of financial institution. The post NDIC explains deposit payout process for failed banks, pegs coverage at N5m, N2m appeared first on Vanguard News.

By Nwafor