NDIC warns against keeping money at homes, shops

THE Nigerian Deposit Insurance ‎Corporation (NDIC) has warned Nigerians not to keep money at homes and shops because of the dangers in losing such money to thieves/armed robbers.

Managing Director/CEO of the NDIC, Umar Ibrahim, who gave the charge on Thursday while marking its Special Day at the on-going 28th Enugu International Trade fair, maintained that lodging money in commercial banks and other authorised financial institutions remained the safest method of securing wealth values.

Alhaji Ibrahim who was represented at the fair by the NDIC Controller for Enugu zonal office, Nicholas Ayuba, also alerted on the activities of some cooperative societies which he said had gone beyond their primary mandate by collecting contributions from non-members of the‎ir socities.

“I wish to emphasise the fact that cooperative societies are established to mobilise savings from their members only. Therefore I hereby call on non-members‎ not to patronize them as they are neither licensed as deposit taking financial institutions nor insured by the NDIC,” he warned.

He reinstated NDIC’s commitment to consumer protection in the banking system, disclosing that the agency has established a 24-hour help desk with a toll free line of 08063424357.

The President of Enugu Chamber of Commerce, Mines and Agriculture (ECCIMA) Reverend Ugo Chime‎ appealed to the Central Bank of Nigeria (CBN) to help make NDIC job easier by reducing incidences of bank failures.