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Critique of Bank Deposits Insurance Scheme in Nigeria

Authors: JAMES Louisa

Publication Type: Journal article

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Abstract

The Nigeria Deposit Insurance Corporation (NDIC) is one of the regulatory and supervisory authorities in the Nigerian banking industry. The combined efforts of NDIC, Central Bank of Nigeria, Federal Ministry of Finance and Financial Services Regulatory Co-ordinating Committee, are critical in ensuring soundness and efficiency of financial institutions in Nigeria, necessary to build-up stability of the industry and ensure depositorsâ€™ confidence in it. NDIC was established in 1988 and it began operations in February, 1989. A bank deposits insurance scheme is widely seen as a financial guarantee to depositors, particularly, the small ones, in the event of a bank failure. The banking system has, thus, been singled out for this special protection because of the vital role banks play in an economy, especially, in the process of economic development. This Article examines the existence, role and performance of the bank deposits insurance scheme in ensuring stability and accountability in the banking industry in Nigeria This is done against tire backdrop ,for the determination of the adequacy or otherwise of the existing depositsâ€™ insurance scheme in Nigeria and whether or not the scheme is sustainable in view of current trends in the banking sector in Nigeria. The research has adopted the analytical methodology of study for the purpose of this work. Recommendations are also made for better and more strategic projection and positioning of NDIC in order to shore-up areas of inadequacy.

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JAMES,L. . (0000). Critique of Bank Deposits Insurance Scheme in Nigeria , 0 (), 0-0.

JAMES,L. . "Critique of Bank Deposits Insurance Scheme in Nigeria " 0, no (), (0000): 0-0.

JAMES,L. and . (0000). Critique of Bank Deposits Insurance Scheme in Nigeria , 0 (), pp0-0.

JAMESL, . Critique of Bank Deposits Insurance Scheme in Nigeria . 0000, 0 ():0-0.

JAMES,Louisa , . "Critique of Bank Deposits Insurance Scheme in Nigeria ", 0 . (0000) : 0-0.

J.Louisa , "Critique of Bank Deposits Insurance Scheme in Nigeria " vol.0, no., pp. 0-0, 0000.

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