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Skye Bank N949 billion customers’ deposits intact, NDIC assures

By Murtala Adewale, Kano
06 December 2018   |   4:08 am
The Nigeria Deposit Insurance Corporation (NDIC) has assured customers of the defunct Skye Bank Plc of maximum guarantee and unhindered access to their deposits running into excess of N949.6 billion. Besides, the corporation said plans had been concluded to settle over N200,000.00 insured deposits to customers of Micro Finance Banks shut by Central Bank of…

[FILE PHOTO] Managing Director/Chief Executive Officer of the Nigeria Deposit Insurance Corporation, Umaru Ibrahim

The Nigeria Deposit Insurance Corporation (NDIC) has assured customers of the defunct Skye Bank Plc of maximum guarantee and unhindered access to their deposits running into excess of N949.6 billion.

Besides, the corporation said plans had been concluded to settle over N200,000.00 insured deposits to customers of Micro Finance Banks shut by Central Bank of Nigeria (CBN).

NDIC’s Managing Director, Umaru Ibrahim, represented by the Controller, NDIC Zonal Office, Kano, Bashir Nuh, disclosed this yesterday during the corporation’s special day at the ongoing 39th Kano International Trade Fair.

The managing director, who said the corporation adopted bridge bank option on the defunct Skye Bank to prevent it from outright liquidation that would have been more disruptive, said the agency would continue working closely with the apex bank to ensure effective supervision of the financial institutions for them to adhere strictly to rules and regulations guiding banking operations.

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