Insured Financial Institutions

Deposit Insurance is a financial guarantee instituted as a measure of safety for the banking system to protect depositors. Deposit Insurance ensures that the depositor does not lose all his money in the event of a bank failure. Deposit Insurance promotes the stability of the banking system. It assures the saver that his funds are safe, and that the failure of one bank does not mean that all banks are in danger of failing.

Each insured bank must meet high standards of safety and soundness in its banking practices. Adherence to these standards is determined through regular bank examinations by the regulatory authorities: the NDIC and the Central Bank of Nigeria.For simplicity, the term “insured bank” is used to mean any bank or savings association that has NDIC insurance, below are banks that insured with NDIC.

The Name and Address of an insured bank can be viewed by first selecting the bank from the list of insured banks in the pop-up menu below and clicking GO.