- The Nigeria Deposit Insurance Corporation has introduced a new minimum bank account balance requirement for customers to qualify for insurance
- The insurance gives a customer the right to receive back a percentage of their sum in case of a bank failure
- Customers whose bank accounts do not meet the specified minimum balance will not receive a refund
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigeria Deposit Insurance Corporation (NDIC) has announced an increase in the deposit insurance coverage for all licensed deposit-taking financial institutions.
