99.4% Of Bank Accounts Contain Less Than N500,000 – NDIC


The Nigeria Deposit Insurance Corporation, NDIC, said that 99.4 per cent of bank accounts contain less than N500,000.

Maximum Insured Limit (MIL) of the Nigeria Deposit Insurance Corporation, NDIC Managing Director/Chief Executive, NDIC, Mr. Bello Hassan disclosed this in Gombe, at the second led of the Corporation’s workshop for Finance Correspondents and Business Editors.

He stated this against the concerns over the adequacy of tl the NDIC’s maximum coverage limits of N500,000per depositor per commercial, merchant and, non-interest bank, primary mortgage bank and mobile money operator, as well as N200,000 per depositor per microfinance bank.

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