Breaking: NDIC Jerks Up Deposit Insurance Coverage For DMBs To N5m

The interim management committee of the Nigeria Deposit Insurance Corporation ( NDIC) has increased the maximize deposit insurance coverage levels for all licensed deposit- taking institutions with immediate effect, thus raising Deposit Money Banks’ insurance coverage level to N5 million from N500, 000.

Similarly, the corporation raised the maximum deposit insurance coverage from N200,000 to N2 million.

Details later