Nigerian banks healthy, NDIC insists

Managing Director, Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, yesterday reassured the public that there was no cause for worry, as the financial institutions in the country were in good shape.
Speaking when the executive members of the Alumni Association of the National Institute (AANI), Abuja Chapter, paid a courtesy visit to the NDIC head office in Abuja, Ibrahim urged Nigerians to ignore the distress rumours being circulated through text messages and social media platforms to de-market some banks and erode depositors’ confidence in the money market.
He said the NDIC, over the years, has played a critical role in ensuring banks were safe and sound through effective supervision, providing financial and technical assistance to deserving financial institutions and adoption of timely failure resolution options to challenged banks.

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