The Nigeria Deposit Insurance Corporation (NDIC) has urged bank depositors to ensure linkage of their bank accounts with their Bank Verification Number (BVN) to ensure ease of payment when a bank fails.
The Managing Director and Chief Executive of the Corporation, Mr Thompson Sunday, gave the advise on Friday at a special day for the NDIC at the ongoing 37th Enugu International Trade Fair.
The theme of this year’s fair is: “Empowering Micro, Small and Medium Enterprises (MSMES) for Global Competitiveness”
Represented by Mrs. Gimbo Hawa, a Director of NDIC, the managing director explained that one having and linking his or her BVN to all personal operated bank accounts would facilitate easy payment when any of the bank fails.
According to him, it will only take the NDIC in its office through ones BVN to pay the depositor in the failed bank into his or her other bank without him or her traveling to NDIC national or zonal offices to report or make claims.
He also urged Nigerians to shun and “not participate” in any fraudulent financial scheme that promise huge return on investment of over 50 per cent and 100 per cent.
The managing director said that banking public should ensure their bank have NDIC logo to guarantee that such bank is covered by NDIC regulations.
He also urged bank depositors to be responsible and not to give out their secret pin numbers or other confidential banking numbers to anybody.
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“Many people’s complaint emanate from their personal compromise of confidential bank information especially with people close to them,” he said.
Earlier, the President of the Enugu Chamber of Commerce, Mr. Nnanyelugo Onyemelukwe, said that NDIC’s proactive oversight had spared Nigerians the “harrowing experience” of losing their savings, especially during the current period of economic hardship.
Onyemelukwe expressed deep appreciation for the NDIC’s consistent participation in the fair, noting that the corporation’s presence had helped bring its vital activities to the “greater purview” of the Nigerian public.
“The NDIC remains a beacon of hope for depositors, acting as a final safety net when financial institutions are mismanaged or forced to close,” he said.
