NDIC Depositors Compensation Initiative

The Nigeria Deposit Insurance Corporation has paid N69.65 billion to insured depositors of failed banks, reinforcing depositor protection and financial stability. This announcement was made during the 2026 Customer Service Week in Abuja.

The Nigeria Deposit Insurance Corporation (NDIC) disbursed N1.48 billion to 10,312 depositors of 47 failed microfinance banks as of July 31, 2026, following the revocation of their licenses by the Central Bank of Nigeria.

The Nigeria Deposit Insurance Corporation (NDIC) has disbursed N1.48 billion to over 10,000 depositors affected by the closure of 47 microfinance banks, streamlining the claims process to ensure quicker access to insured funds.