The Nigeria Deposit Insurance Corporation (NDIC) on Thursday in Enugu assured depositors of the safety of their money against unusual bank failures.
Bello Hassan, the Managing Director, NDIC gave the assurance at the 34th Enugu International Trade Fair.
Othman Afolayan, the Senior Manager Enugu Zonal Office of NDIC, who represented Hassan said the aim of the corporation is to enhance public confidence in the financial system by ensuring that customers’ deposits in banks are safe and protected.
He explained that the NDIC, in conjunction with the CBN supervised money deposit banks to ensure that they run in a safe and efficient manner.
"We are at the trade fair to showcase the mandate and activities of the NDIC, particularly our contributions to the stability of the country’s financial system.
“We want the general public to know and reflect always that their deposits are safe and that in the unusual event of a bank failure, the NDIC is here to protect them, especially the small savers,’’ he said.
He, however, advised depositors to ensure that their phones have strong passwords and avoid sharing their bank mobile app password with third parties.
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