Nigeria Deposit Insurance Corporation
E886254
The Nigeria Deposit Insurance Corporation is a government agency that protects bank depositors and promotes financial system stability in Nigeria by insuring deposits and supporting bank resolution processes.
Statements (44)
| Predicate | Object |
|---|---|
| instanceOf |
deposit insurance agency
ⓘ
government agency ⓘ |
| aimsTo |
minimize the cost of bank failures to the financial system
ⓘ
reduce the likelihood of bank runs ⓘ |
| collaboratesWith | Central Bank of Nigeria NERFINISHED ⓘ |
| continent | Africa ⓘ |
| country | Nigeria ⓘ |
| function |
conduct public awareness on deposit insurance
ⓘ
contribute to banking supervision in collaboration with other regulators ⓘ insure eligible bank deposits ⓘ monitor risks to the deposit insurance fund ⓘ participate in the resolution of failing or failed insured institutions ⓘ pay deposit insurance to insured depositors of failed banks ⓘ |
| governedBy | Nigerian law ⓘ |
| hasActivity |
bank liquidation and receivership
ⓘ
deposit insurance scheme administration ⓘ financial consumer protection support ⓘ risk-based supervision support ⓘ |
| hasScope |
commercial banks in Nigeria
ⓘ
microfinance banks in Nigeria ⓘ other licensed deposit-taking institutions in Nigeria ⓘ primary mortgage banks in Nigeria ⓘ |
| headquartersLocation | Abuja NERFINISHED ⓘ |
| industry |
banking supervision
ⓘ
financial services ⓘ |
| insuredParties | depositors of insured financial institutions in Nigeria ⓘ |
| jurisdiction | Nigeria NERFINISHED ⓘ |
| languageOfWork | English ⓘ |
| legalForm | statutory corporation ⓘ |
| partOf | Nigeria’s financial safety net framework ⓘ |
| purpose |
contribute to financial system stability
ⓘ
promote public confidence in the banking system ⓘ protect bank depositors ⓘ support bank resolution processes ⓘ |
| regionServed | Federal Republic of Nigeria NERFINISHED ⓘ |
| regulates | insured deposit-taking financial institutions in Nigeria ⓘ |
| role |
bank resolution authority
ⓘ
deposit insurer ⓘ financial system stability promoter ⓘ |
| sector | public sector ⓘ |
| supervisesAspect | safety of insured deposits ⓘ |
| supports | bank resolution frameworks in Nigeria ⓘ |
| typeOfInsurance | explicit deposit insurance ⓘ |
| worksWith | other Nigerian financial sector regulators ⓘ |
Referenced by (1)
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