Uyo - Aghatise Erediauwa, an Executive Director
in the Nigerian Deposit Insurance Corporation (NDIC), says the laws of
the corporation will soon be reviewed to check delays in bank
Erediauwa, disclosed this on Monday at the annual workshop organised
by NDIC for financial journalists.
He said that the NDIC Act would be reviewed to stop individuals and
groups from delaying the liquidation process of banks by resorting to
Erediauwa expressed regrets that liquidation process of some banks had
not been concluded long after their liquidation because some interest
groups went to court to frustrate the process
He said that shareholders had no justification to delay a bank's
liquidation process because they had less than five per cent stake in
The NDIC executive said that the corporation was working to be one of
the top 10 deposit insurance agencies in the world and this required
strict compliance with international benchmarks.
He said that the NDIC and the CBN were working to promote financial
inclusion through mobile banking, adding that the NDIC was taking
initiatives to insure mobile banking transactions.
Erediauwa said that the role of NDIC was evolving over-time and was
essential to re-brand the organisation in line with current activities
and strategic thrust