2025-12-18 00:00:00
Punch reports that the Nigeria Deposit Insurance Corporation (NDIC) and the Nigeria Inter-Bank Settlement System (NIBSS) have entered a partnership aimed at improving how depositors of failed banks are identified and paid.
The report says the collaboration targets faster verification and cleaner payment processes, reducing delays that often frustrate depositors after bank liquidations.
Officials are positioning the move as part of wider financial-system stability efforts, especially as digital identity and payment rails deepen across Nigeria.
The Guardian reported that the NDIC–NIBSS collaboration is designed to make liquidation payouts more efficient and transparent. (Guardian Nigeria)
NAN also reported the partnership and said it would strengthen processes for paying insured depositors of failed institutions. (NAN)
Analysis/Echotitbits take: Faster payouts improve trust in the banking system and reduce panic during stress events. Watch whether NDIC publishes clearer payout timelines, integrates BVN/NIN-linked verification more deeply, and expands outreach so rural depositors can access claims easily.
Source: Punch — December 18, 2025 (https://punchng.com/ndic-nibss-to-strengthen-failed-banks-depositor-payouts/)
Photo credit: Daily Post Nigeria
