NDIC lauds judiciary on deposit insurance practice

The Nigeria Deposit Insurance Corporation (NDIC) has commended the judiciary on its better understanding of the deposit insurance practice towards promoting stability of the nation’s financial system.

Mr. Hassan stated that the overarching objective of the Deposit Insurance Scheme in Nigeria, is to protect depositors in the event of failure of the insured institutions, thereby engendering confidence and curtailing the incidence of bank runs in the system.