The Nigeria Deposit Insurance Corporation (NDIC) has reiterated its directive to banks to resolve all customer complaints within two weeks, warning that unresolved issues after the deadline may be escalated directly to the Corporation for intervention.
The NDIC said the measure is part of its renewed efforts to protect depositors and strengthen public confidence in the banking system.
Speaking at the NDIC Day during the ongoing Lagos International Trade Fair, the Director of the Claims Resolution Department, Olawale Sule, who represented the NDIC Managing Director/Chief Executive, Oludare Sunday, emphasized that one of the Corporation’s key responsibilities is to ensure that customer issues are promptly addressed.
He explained that the directive covers complaints such as unresolved ATM dispense errors, unauthorized transactions, and other account-related issues.
Sule also reminded the public that only banks duly licensed by the Central Bank of Nigeria (CBN) and insured by the NDIC are covered under the deposit insurance scheme.
He urged Nigerians to always verify the status of any financial institution before depositing money, noting that the full list of insured banks is available on the NDIC website.
Sule further advised the public to be wary of so-called “wonder banks” that promise unrealistic returns, stressing that the NDIC offices across the country are open to assist members of the public in confirming the legitimacy of any deposit-taking institution.
He recalled previous instances of public confusion about the licensing status of some financial platforms, noting that NDIC’s goal is to ensure transparency, depositor protection, and lasting confidence in Nigeria’s financial system.
