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Thursday, 11 April 2019

Cybercrime And Ponzi Schemes Our Major Headache – Says NDIC

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The Nigeria Deposit Insurance Corporation, NDIC, has revealed that the seriously increased style of cybercrime and the proliferation of Ponzi schemes were major challenges it is facing at the moment.


 The corporation, however, said it is determined to arrest the economic crimes, using requisite knowledge and capacity.

The body, therefore, said it was seeking higher knowledge and sophistication to tame the tide and play a distinct role as a critical member of Nigeria safety net with distinction. 

The Economic and Financial Crimes Commission, EFCC, also said that NDIC was not on the war alone as it was partnering with the corporation to abolish the economic sabotage. 

Managing Director/CEO of NDIC, Alhaji Umaru Ibrahim made the disclosure,  on Thursday, at the ongoing 30th International Trade Fair which was held in Enugu. 

Represented by the Corporation’s Deputy Director South East zonal office, Mrs. Vera Ogbo-Ikwue, Ibrahim also disclosed that NDIC has extended deposit insurance coverage to depositors of non-interest banking institutions and subscribers of Mobile Money Operators to the maximum limit of half a million naira. 

He said that the cooperation has also taken measures to ensure that all those who contributed to the failure of the defunct Skye bank, now Polaris bank, are prosecuted through the appropriate legal means to serve as a deterrent to others.

“In 2018, a total of N526,397,116.26 were recovered from respect of deposit money banks liquidation; N51,159,867.97 and N710,057.83 from primary mortgage banks and microfinance banks, respectively,” Ibrahim said.


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