Regulatory Alerts2025-12-09
NDIC Quarterly Vol 39 No 3&4 2024 – Activities of the NDIC in the Fourth Quarter of 2024
The NDIC report for Q4 2024 highlights significant financial recoveries and strategic implementations, including N1,292.95 million from risk assets and N4,769.52 million from physical asset sales, along with cumulative payments of N3.10 billion to insured depositors. The Corporation enhanced its operational efficiency by reviewing its 2021-2025 strategic plan, conducting IT service reviews, and implementing a new Electronic Document Management System, while also conducting extensive bank supervision and risk assessments of 22 banks. Despite progress, challenges in debt recovery, protracted legal processes, and poor documentation from failed banks persist, requiring continued enforcement of regulations and improved information management.
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