NDIC Pays Over Eighty Percent Depositors of Liquidated Bank Depositors in Nigeria.

From Yakubu Mustapha Minna

Nigerian Deposit Insurance Corporation NDIC has said that over eighty percent of depositors of liquidated commercial banks in Nigeria have been repaid their insured amounts as stipulated by the law.

An Officer of the Bank Examination Unit, NDIC, Zayyad Abubakar stated this at a sensitization forum, on the Mandate and Function of NDIC, organized for students of Government Girls Secondary School Old Airport road Minna to mark the 2025 World Savings Day Celebration in Niger state.

Zayyad Abubakar noted that all the customers that have adequate data in the system, within five days of revocation of licence were all paid without even filing their claims, just as

those with no profer records with the Bank such as BVN and other requirements could not be paid.

While making his presentation on the topic; Mandates and Operations of Nigeria Deposit Insurance Corporation NDIC, stated that financial education and inclusion of young ones will help the children future, boost economy and government, hence Banks declaration of more deposit funds in the country.

He however said the Nigerian Deposit Insurance Corporation NDIC, received about eighty complaints last year, out of which about fifty have been sorted out and those customers were refunded, stressing that they refer cases of theft to the security agencies because it was not under their purview.

According to him over eighty percent of students of GGSS Minna, Niger state, have bank accounts courtesy of their sensitization on financial resilience, Earning for stability and financial freedom stressing that a total of two thousand students spread across ten states within the geo political zones in Nigeria have so far benefitted from NDIC sensitization programme on financial inclusion and education that has been yielding positive results.

In his remarks, the Niger state Commissioner Ministry of Basic and Secondary Education, Dr Hadiza Asabe Mohammed said savings is not merely a financial habit but it is also a lesson in discipline, patience and hope which was the same value the state government seek to instill in every child in the classroom.

In his presentation on World Savings Day 2025, Staff of Communication and Public Affairs Department, Tanko Yahaya Ibrahim on “Beyond Savings-Building Financial Resilience” charged the students to engage in petty businesses for self reliance in addition to opening a bank account for savings and investment purposes.

He revealed that the sensitization and awareness campaign to catch them young in financial literacy in the country is targeted at 2,000 students from ten states to the nation that 200 students per state, while charging them on savings and investment aldo urged them to work hard and smart devoid of fraudulent activities.