NDIC reiterates commitment to protecting customers’ deposits

The Nigeria Deposit Insurance Corporation (NDIC) has reiterated its commitment in ensuring that bank deposits of customers are safe.

Managing Director/CEO of NDIC, Bello Hassan stated this at the ongoing 34th Enugu International Trade Fair 2023, adding that the NDIC have over the years guaranteed safe Deposits of Micro, Small and Medium Enterprise (MSME) and the informal segment Nigeria’s economy.

“Such deposits also enjoy the benefit of effective regulation and supervision of relevant authorities, and take people’s hard earned money beyond the ambit of illegal fund managers and loan sharks that currently awash the investment landscape and fleece unsuspecting members of the public,” he said.

He said the Commission is aggressively sensitising depositors on how to also protect their money in banks from fraudsters.

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“However, as the unscrupulous elements get more and more creative in their ignoble acts, and as the NDIC and other regulatory bodies devise more ingenious approaches to tackling their menace. It is pertinent for the corporation to continue to sensitise the public on their expected roles towards protecting their bank deposits,” Hassan added.

He further stated that “Depositors are to ensure their phones have strong password and do not share their bank mobile app password with third parties; ensure no one is watching when they enter their PIN to perform transactions; ensure their token is secure and other parties do not have access to it; and ensure their debit card number and CVV are not exposed to people. Equally important is the need to avoid investment offers with quick and arbitrarily high returns,”