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Format: MS WORD  |  Chapter: 1-5  |  Pages: 65  |  932 Users found this project useful  |  Price NGN3,000



The aims of this paper is to appraise the Nigerian Deposit Insurance Corporation (NDIC) liquidation activities in failed banks, claims settlement; amount and number of depositors so far paid; reason behind the abandonment of deposits by some depositors; level of liquidation proceeds realized and how it has been managed fairness of bad debt litigation disposition and the adequacy of the insurance deposit.To achieve the above objective I relied on questionnaire, personal interviews and visit to the site; for primary data; from past literature, journals and dailies for the secondary data.  The statistical tools used in the analysis are the simple percentages, tables, pie charts and bar charts.The study revealed the following: NDIC has been delaying in settling both the inured and the uninsured depositors, the delay was found to be attributed to:a. The inadequate preparation by the NDIC in both human and material resources.b. The inability of the depositors to put forward their claim on time for verification.Rigorous claim filing process adopted by NDIC, lack of proper awareness on the side of depositor were found to be chief reason for the abandonment of claims by depositors.
A sizeable amount has been realized from sale of fixed assets, not much from debt recovery. The amount realized has not been managed to the interest of depositors, as some amount were not accounted for, while a huge sum was written off as expense.




The importance of a banking sector in any economy derives from its role of financial intermediation; provision of an efficient payment system and facilitating the implementation of monetary policies.  Hence, an efficient and effective banking sector is essential not only for the promotion of efficient intermediation but also for the protection of depositors, encouragement of healthy competition, maintenance and protection against systematic risk.

The banking system as noted by Schempeter (2014) is regarded as a key agent in the process of development, because all other industries rely on it for working capital.  But, the Nigerian banking system in caught in systematic turmoil, there has been a rapid increase in the number of bank failures and the magnitude of the problem has reached an unprecedented level; the problem has assumed a generalized dimension thereby making it an issue of concern to the government, the regulatory authorities, the bankers, the general public and the international financial institutions such as the World Bank and the International Monetary Fund (IMF).Distress in the Nigerian banking system dates back to the 1950’s when about 51 banks were forced out of the system following the introduction of the very first banking law in Nigeria.  

The Banking Ordinance of 1952, the above ordained and the Central Bank of Nigeria Act of 1958 brought some element of sanity into the system.  The second phase of distress was experienced in the system after the era of Structural Adjustment Programme (SAP), which deregulated the economy; as a result led to the influx of the system with both efficient and inefficient banks, owing to the fact that banks licensing was liberalized.  Thus increasing the number of banks in the country from 42 in December 1991 (Oleyemi 2015) when SAP was put to an end following the enactment of Bank and Other Financial Institutions (BOFI) Decree N0. 25 of 1991.  The above represents an increase by about 186 percent in less than a decade.In order to cushion the effect of further bank failure, the Nigeria Deposit Insurance Corporation (NDIC) was established under the NDIC Decree N0. 22 1988.


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