Undeterred by losses, Nigerians still embrace Ponzy schemes
Olusola Deji earns very little as a civil servant working in Lagos State. Indeed, he is quick to remind you of the age-long refrain, “my take home pay cannot take me home.”
How shareholders’ activism ensures accountability, protects listed firms
Shareholders are the owners of companies whether listed or not. They have claim on a portion of the assets owned by the company. As these assets generate profits, which are ploughed back for further growth, shareholder value increases which capital markets reward through rise in stock price.
NDIC expresses concern over cybercrime, ponzi schemes
The Nigeria Deposit Insurance Corporation (NDIC) yesterday raised the alarm over increased sophistication of cybercrime and proliferation of Ponzi schemes in the country, noting that the trend was posing a great challenge. It managing director, Umaru Ibrahim, who stated this at the ongoing 30th Enugu International Trade Fair in the Coal City, also said while…
FG tasks NDIC on non-performing loans in banks
The Federal Government has stressed the need for the new board of the Nigerian Deposit Insurance Corporation (NDIC), to urgently address the issues of Non Performing loans in the nation’s banking sector, warning that government is no longer prepared for a repeat of past mistakes. Vice President, Prof Yemi Osinbajo, who gave the charge, also tasked the…
NDIC reaffirms commitment to safeguard Nigeria’s financial services industry
The Managing Director of NDIC, Alhaji Umaru Ibrahim said this at a two-day seminar organised by the corporation for management staff of the Ministry of Finance in Abuja.Ibrahim was represented by the Director Research of NDIC, Mr Sunday Oluyemi.
NDIC gets full membership of IFSB
The Nigeria Deposit Insurance Corporation (NDIC) has been granted full membership to the board of the Islamic Financial Services Board (IFSB), headquartered in Kuala Lumpur, Malaysia, by its council.
Senate confirms Keyamo, others member of NDIC board
The Nigerian Senate,Wednesday, confirmed the Director of Media of President Muhammdu Buhari Campaign Organisation, Festus Keyamo, alongside others as members of Nigerian Deposit Insurance Corporation (NDIC). The board will be headed by Ronke Sokefun and Other new members which includes: Adewale Adeleke, Mustapha Adewale Mudashiru, Josef O. J. Okoloagu and Alhaji Garba Bello. Following the announcement the…
Skye Bank N949 billion customers’ deposits intact, NDIC assures
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…
Lawmakers to speed up NDIC Act amendment for improved deposit cover
The quest for the amendment of the Nigeria Deposit Insurance Corporation (NDIC) Act 2006, to enable it eliminate assessed gaps hindering the full implementation of the Deposit Insurance System (DIS) in Nigeria, would be given accelerated attention, The Guardian has learnt. The Senate Committee on Banking, Insurance and Other Financial Institutions expressed has expressed a strong commitment of the lawmakers to the…