All banks remain safe, sound, NDIC assures customers

The Nigeria Deposit Insurance Corporation (NDIC) has urged members of the public to continue their banking activities without fear, assuring that all banks remained safe and sound.
A statement by Hawwau Gambo, the Acting Head, Communication and Public Affairs Department of NDIC in Abuja on Sunday, reiterated the corporation’s commitment toward safety of depositors’ funds in all licenced banks.
Gambo said the corporation was reacting to concerns raised by depositors of the defunct Heritage Bank whose balances exceeded the maximum deposit insurance limit of N5 million.
She said the corporation had made significant progress in reimbursing the insured deposits of N5 million maximum per depositor.
According to her, it is instructive to state that depositors yet to be paid their insured deposits are largely those without Bank Verification Number (BVN) or alternate accounts in other banks.
She said the alternate account would enable the corporation to fetch the accounts from the Nigeria Inter-Bank Settlement System (NIBSS) database to effect payment.
Gambo said that other depositors in that category were those with Post No Debit (PND) restrictions on their accounts.
”Additionally, some accounts have Know Your Customer (KYC) limitations such as Tier One accounts that places restrictions on the maximum lodgement of funds, while others have name mismatches that required resolution,” she said.
Gambo urged depositors with further questions to reach the corporation through an email address [email protected] or call the Claims Resolution Department on the following numbers from
9:00 a.m. to 5:00 p.m.: 0810 422 0807; 0810 931 3326; 0903 819 7064; 0906 465 7140.