Category: Banking,
Heritage Bank Assets Up for Sale by NDIC
Abuja, Nigeria — June 13, 2024 — The Nigeria Deposit Insurance Corporation (NDIC) has announced the sale of the offices and assets of the defunct Heritage Bank. This sale includes vehicles, office equipment, and plant and machinery located nationwide. The NDIC, acting in its capacity as the liquidator of failed deposit money banks, has invited…
NDIC Increases Deposit Insurance Protection for Banks
In a move aimed at bolstering financial security and providing greater protection for depositors, the Nigeria Deposit Insurance Corporation (NDIC) has announced significant enhancements to the maximum deposit insurance coverage for Deposit Money Banks (DMBs), Microfinance Banks (MFBs), and Primary Mortgage Banks (PMBs). During a press briefing in Abuja on Thursday, Mr. Bello Hassan, the…