NDIC Warns Nigerians Against Unlicensed Banks and Ponzi Schemes - Stay Vigilant!
The Nigeria Deposit Insurance Corporation (NDIC) warns Nigerians to avoid unlicensed banks and Ponzi schemes, emphasizing the importance of dealing only with licensed financial institutions. The Managing Executive, Oludare Sunday, stressed the need for customers to use banks and fintech services covered by the NDIC to safeguard their funds.
Speaking at the Abuja International Trade Fair, NDIC highlighted its role in protecting depositors' funds over the past three decades. The corporation's primary objectives include insuring deposits, supervising financial institutions, and managing distressed banks.
The MD reaffirmed the commitment to safeguarding Nigerians' funds and urged vigilance against fraudulent investment schemes like Ponzi schemes.
Plus234Feed summary based on reporting from This Day. Read the original report below.
Read full article
Continue on This Day
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
NDIC Reassures Nigerian Bank Customers on Savings Safety
NDIC and CIBN Collaborate to Address Emerging Risks in Nigerian Banking Sector
NDIC Ensures 99% Deposit Coverage in Nigerian Banks, Enhances Protection
NDIC Empowered to Prosecute Those Behind Bank Collapses in Nigeria
NDIC Takes Action to Address Customer Trust Crisis in Nigerian Banks
NDIC Empowered to Prosecute Parties Responsible for Bank Failures, Says MD
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
