The Nigeria Deposit Insurance Corporation (NDIC) has underscored the critical role of the judiciary in safeguarding Nigeria’s financial system, calling for closer collaboration to strengthen the adjudication of failed bank cases and boost public confidence in the banking sector.
Acting Managing Director of NDIC, Emily Osuji, made the call during her welcome address at the 2025 Sensitisation Seminar for Federal High Court Judges, held in Lagos. The seminar was jointly organised by the NDIC and the National Judicial Institute (NJI), with the theme: “Strengthening Adjudication and Depositor Confidence in the Banking System.”
Osuji noted that the seminar aimed to build judicial capacity and deepen cooperation with the judiciary, recognising the pivotal role of Federal High Court judges in resolving financial disputes involving failed banks.
“Since the inception of the Deposit Insurance System (DIS) in 1988, now governed by the NDIC Act No. 33 of 2023, the Corporation has safeguarded depositors’ funds, supervised banks, resolved distressed institutions, and liquidated failed banks with minimal disruption to the financial system,” she stated.
She further explained that all depositors’ funds in licensed deposit-taking financial institutions are guaranteed by the NDIC, with maximum coverage of ₦5 million per depositor for deposit money banks and ₦2 million for other institutions.
The NDIC reiterated its commitment to working with the judiciary to promote legal certainty, depositor protection, and systemic stability, ensuring that justice serves both the banking system and the public interest.
