Nigeria Deposit Insurance Corporation

The Nigeria Deposit Insurance Corporation (NDIC) is a government agency that protects depositors’ funds in banks and financial institutions. Its main role is to ensure financial stability by insuring customer deposits up to a certain limit, so if a bank fails or faces difficulties, depositors can recover their money. The NDIC also monitors banks' health, supervises their operations, and assists in resolving bank crises. This helps maintain confidence in Nigeria’s banking system, encouraging people to save and invest securely.