NDIC assures bank customers of safety of deposits

The Managing Director, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umar Ibrahim has assured bank depositors of the safety of their funds. Ibrahim, said in a message to the ongoing 35th Kaduna International Trade Fair that the corporation would not shirk in its responsibilities.

“NDIC is committed to ensure that micro finance banks are effectively supervised and that depositors’ fund are well managed. Apart from it supervisory activities, the corporation has been providing technical support to the Micro finance banks,” he said.

Represented by Mrs Christiana Afagbo, Director Administration of the corporation, the managing director also acknowledged problems between customers and banks, adding that it had set up ways to address it.

He identified such problems as “arbitrary bank interest charges, account balances manipulation, fraud and forgeries”. We introduced other measure to combat such infractions by establishing a help desk which is a dedicated toll-free 24-hours telephone line,” he said.

“While some banks have taken steps in addressing the problem, the corporation has introduced measures to cut such infractions to enable bank customers and the general public report financial abuses at all times.”