ABOUT US
Established to protect depositors and strengthen confidence in the nation's financial system.
The Nigeria Deposit Insurance Corporation (NDIC) is an independent agency of the Federal Government of Nigeria established to protect depositors and strengthen confidence in the nation's financial system.
The Corporation plays a critical role in ensuring the stability of the banking sector by providing deposit insurance, supervising financial institutions, and managing bank failures effectively.
Through its operations, NDIC safeguards depositors' funds and contributes to a resilient and trustworthy financial ecosystem.
What drives every decision we make
To be one of the best Deposit Insurers in the World.
To protect depositors and contribute to the stability of the financial system.
Five principles, lived every day
To be effective in the discharge of its mandate, the Corporation is guided by the following core values and beliefs.
Exellence
<p>An unyielding commitment to superior performance across all facets of our mandates</p>
Professionalism
<p>Ensuring the highest standards in every interaction through a skilled workforce and strict regulatory diligence.</p>
Integrity
<p>Acting with unwavering honesty, fairness, and transparency in all our dealings.</p>
Innovation
<p>Embracing cutting-edge technologies and modern approaches to enhance the deposit insurance system.</p>
Collaboration
<p>Partnering internally and externally to achieve shared goals and amplify our collective impact for systemic stability</p>
Safeguarding deposits and preserving trust in the banking system.
Deposit Insurance
NDIC guarantees payment of deposits up to the maximum limit in accordance with its statute in the event of failure of an insured financial institution.
Bank Supervision
<p>The Corporation supervises banks so as to protect depositors<strong>; </strong>foster monetary<strong> </strong>stability; promote an effective and efficient payment system; and promote competition and innovation in the banking system.</p><p>Banking supervision is an essential element of the Nigeria deposit insurance scheme as it seeks to reduce the potential risk of failure and that unsafe and unsound banking systems do not go unchecked.</p>
Failure Resolution
NDIC ensures failing and failed institutions are resolved in a timely and efficient manner.
Bank Liquidation
Liquidation enables orderly closure of failed institutions, asset realisation, and settlement of claims to depositors, creditors and shareholders where possible.
In line with Section 2 of the NDIC Act 2006, the Corporation performs the following functions.
Insuring all deposit liabilities of licensed banks and other insured financial institutions operating in Nigeria.
Giving assistance to insured institutions in the interest of depositors in case of imminent or actual financial difficulties.
Guaranteeing payments to depositors in case of imminent or actual suspension of payments by insured institutions.
Assisting monetary authorities in the formulation and implementation of policies for sound banking practice and fair competition.
Pursuing other measures necessary to achieve the functions of the Corporation.
Our organisational structure ensures
effective governance and accountability.
Meet the serving board members guiding the Corporation's leadership and direction.
Mr. Raymond O. Omachi, FCA
Chairman
Mr. Thompson Oludare Sunday
Managing Director / Chief Executive Officer
Dr. Kabir Sabo Katata
Executive Director, Operations
Mrs. Emily Osuji
Executive Director, Corporate Services
Dr. Emomotimi Agama
Director General, Securities and Exchange Commission
Dr. Olubukola A. Akinwunmi
Director, Banking Supervision, Central Bank of Nigeria