"NDIC Unveils Swift Payment Revolution: Single Customer View (SCV) Steals the Spotlight at 45th Kaduna International Trade Fair" - News Panorama


Zakari Isah - Kaduna

The Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Alhaji Bello Hassan, has introduced the Single Customer View (SCV) for swift payment to depositors in the event of bank failure. 

This announcement was made during the 45th Kaduna International Trade Fair, with the Corporation enhancing collaboration with the judiciary for expedited prosecution of failed insured institutions.

Expressing gratitude to distinguished guests, Bello Hassan emphasized NDIC's commitment to protecting Nigerian depositors and ensuring financial stability.

He praised the Kaduna Chamber of Commerce for hosting the trade fair and highlighted the alignment of this year's theme with the Corporation's mandate.

Emphasizing NDIC's dedication to safeguarding depositors' funds, Hassan outlined efforts in Alternative Dispute Resolution (ADR), out-of-court settlements, and revitalized liquidation activities. He cited improved debt recovery rates and 100% liquidation dividends for uninsured depositors of over 20 banks in liquidation.

Hassan reiterated NDIC's commitment to transparency and accountability, citing success in reimbursing depositors during the closure of Microfinance and Primary Mortgage Banks. 

Digital remote payment strategies and initiatives like "Deposit Tracer" and online claims processing were highlighted to assist depositors in accessing their funds from closed banks. The Managing Director encouraged depositors to utilize these initiatives for claiming their funds.

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