NDIC Successfully Resolves 248 Complaints, Recovers N8.3bn

The managing director/chief executive Nigeria Deposit Insurance, Mr Bello Hassan has said that the Corporation has successfully resolved 248 complaints from its prospective depositors and recovered over N8.3 billion from their respective banks.

He said the complaints bothered on unauthorised withdrawals, which accounted for the highest number of 190 cases of POS issues and  for 33 charges/fees/fraud issues.

The NDIC MD/chief executive officer  who was represented by the director, Communications and Public Enlightenment of the Commission, Alhaji Bashir Alhassan Nuhu made the disclosure yesterday at the Special Day of the Corporation at the ongoing 43rd Kano Trade Fair held at the Trade fair Complex.

“I am highly pleased to be here today for the NDIC Special Day at the on going 43 Kano International Trade Fair. I am particularly delighted to welcome all our highly distinguished guests, who have over the years been identifying with the Corporation on the platform of this great event In the ancient city of Kano,

“I would  like to warmly thank our revered Royal Fathers for your esteemed presence and consistent support for the Corporation through advocacy and sensitisation of your subjects. also like to appreciate other highly valued guests, including representatives of financial institutions to the fair.

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The NDIC MD also congratulated the President, other executives and entire members of the Kano Chamber of Commerce, Industry. Mines and Agriculture (KACCIMA) on yet another enviable feat underpins this year’s trade fair.He said “The theme of the trade fair equally resonates with the mandate, vision and mission of our Corporation which centres on protecting depositors and contributing to the stability of the financial system.

According to NDIC boss, the commission   in collaboration with other safety-net players, will therefore continue to be resolutely committed to keeping the financial system safe and sound, not only to bolster confidence, but to strongly serve its role of intermediation in support of the AFCFTA implementation in particular. and the economy in general.

He said the Corporation has always demonstrated strong and unwavering commitment to its depositor protection through its mandate of deposit guarantee, banking supervision in collaboration with the Central Bank of Nigeria (CBN), distress resolution and bank liquidation.

Accordingly, he said, in line with our public policy objectives of protecting small and less sophisticated depositors, the Corporation has continued to strengthen its consumer protection mechanism.

Speaking earlier the Ag. Chairman .of KACCIMA Alhaji Ahmad Aminu commended the NDIC for its role as an Umbudsman in fighting for the rights of depositors .

“We are going to work in synergy with the Corporation to ensure the entrenchment of financial discipline in the country.