What is NDIC function?
The NDIC supervises banks to protect depositors, ensure monetary stability and effective/efficient payment system as well as to promote competition and innovation in the banking system.
What is the meaning of NDIC in Nigeria?
Nigeria Deposit Insurance Corporation
The NDIC (Nigeria Deposit Insurance Corporation) is an independent agency of the Federal Government of Nigeria.
Who established NDIC?
Board of Central Bank of Nigeria
The history of Nigeria Deposit Insurance Corporation (NDIC) has its origin in the report of a committee set up in 1983 by the Board of Central Bank of Nigeria (CBN), to examine the operations of the banking system in Nigeria. The Committee in its Report recommended the establishment of a Depositors Protection Fund.
What does DPR entry level pay?
According to latest available figure, the Department of Petroleum Resources, DPR pays their entry-level staff N133,333 basic salary per month, totaling about N1. 6 million per annum.
What are the functions of NDIC on capital market?
The Corporation supervises banks so as to protect depositors; foster monetary stability; promote an effective and efficient payment system; and promote competition and innovation in the banking system.
What is bank deposit scheme?
Deposit insurance is a protection cover for deposit holders in a bank when the bank fails and does not have money to pay its depositors. DICGC insures all bank deposits, such as savings, fixed, current and recurring deposit for up to the limit of Rs 5 lakh per bank. 4.
Is Piggyvest registered with NDIC?
Piggyvest is a financial technology (Fintech) company in Nigeria. According to the company website, (even though we could independently verify the information) the company is registered with the Corporate Affairs Commission (CAC) and the Nigerian Deposit Insurance Corporation (NDIC).
When was NDIC established?
15 June 1988
Nigeria Deposit Insurance Corporation/Founded