{"id":225,"date":"2018-10-03T09:00:00","date_gmt":"2018-10-03T09:00:00","guid":{"rendered":"http:\/\/thefreezoneblog.com\/blog\/2018\/10\/03\/ndic-commits-to-deepening-financia\/"},"modified":"2018-10-03T09:00:00","modified_gmt":"2018-10-03T09:00:00","slug":"ndic-commits-to-deepening-financia","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/ndic-commits-to-deepening-financia\/","title":{"rendered":"NDIC commits to deepening financial inclusion"},"content":{"rendered":"
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\nThe Nigeria Deposit Insurance Corporation (NDIC) has launched a stand at the Abuja International Trade Fair where it reiterated its commitment to deepen financial inclusion in the country.<\/u><\/u><\/div>\n<\/div>\n
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\nThe corporation\u2019s Managing Director , Mr Umaru Ibrahim made this known at the NDIC\u2019s Special Day at the ongoing Abuja International Trade Fair.<\/u><\/u><\/div>\n<\/div>\n
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\nThe theme of the fair is, \u201cEnhancing SMEs in Agribusiness through Innovative Technology\u201d.<\/u><\/u><\/div>\n<\/div>\n
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\nUmaru said the corporation was implementing the National Financial Inclusion Strategy by adopting various public awareness activities to achieve its purpose.<\/u><\/u><\/div>\n<\/div>\n
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\nHe named some of the activities to include World Savings Day, promotion of financial literacy among youths in secondary schools, TV and Radio jingles and workshop for Business Editors and Financial Correspondents.<\/u><\/u><\/div>\n<\/div>\n
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\nWhile commending the Abuja Chamber of Commerce and Industry (ACCI) on the theme of the fair, Umaru pledged NDIC\u2019s support to the development of small businesses in the country.<\/u><\/u><\/div>\n<\/div>\n
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\n\u201cThe theme could not have been more apt, given the determination of the current administration to achieve inclusive economic growth, especially through the development of agriculture sector.<\/u><\/u><\/div>\n<\/div>\n
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\n\u201cAs key player in the Nigerian financial system, the NDIC is resolute in its determination to complement the roles of other regulators and institutions.<\/u><\/u><\/div>\n<\/div>\n
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\n\u201cWe will ensure that the soundness and stability required to support agro-based small and medium enterprises is provided.\u2019\u2019<\/u><\/u><\/div>\n<\/div>\n
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\nUmaru restated NDIC\u2019s commitment to protect bank depositors and promote public confidence in the financial system.<\/u><\/u><\/div>\n<\/div>\n
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\nHe described NDIC as a corporation that minimises risk, protects depositors by collaborating with the CBN for effective supervision of banks, offering timely resolution of distressed financial institutions.<\/u><\/u><\/div>\n<\/div>\n
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\nAccording to him, when various resolution measures fail, NDIC liquidates the failed banks and ensure prompt payment of all insured deposits.<\/u><\/u><\/div>\n<\/div>\n
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\nHe said that the corporation as at Dec. 31, 2017 had paid N11.50 billion to depositors, creditors, shareholders and other stakeholders of closed financial institutions.<\/u><\/u><\/div>\n<\/div>\n
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\nThe NDIC boss said that the corporation was also collaborating with the CBN to ensure financial system stability in the country.<\/u><\/u><\/div>\n<\/div>\n
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\nHe said that the corporation had made a cumulative recovery of N28.84billion from debtors of failed banks and N21.85 billion had been realised from disposal of physical assets of closed banks as at Dec.31, 2017.<\/u><\/u><\/div>\n<\/div>\n
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The Nigeria Deposit Insurance Corporation (NDIC) has launched a stand at the Abuja International Trade Fair where it reiterated its commitment to deepen financial inclusion in the country. The corporation\u2019s Managing Director , Mr Umaru Ibrahim made this known at the NDIC\u2019s Special Day at the ongoing Abuja International Trade Fair. The theme of the […]<\/p>\n","protected":false},"author":1,"featured_media":1182,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[44],"class_list":["post-225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-trade","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\nNDIC commits to deepening financial inclusion - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/ndic-commits-to-deepening-financia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NDIC commits to deepening financial inclusion - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"The Nigeria Deposit Insurance Corporation (NDIC) has launched a stand at the Abuja International Trade Fair where it reiterated its commitment to deepen financial inclusion in the country. 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