The Nigeria Deposit Insurance Corporation has reassured Nigerians that their deposits remain protected, highlighting the increase in deposit insurance coverage to ₦5 million for eligible depositors.

Speaking during the second-quarter Citizens and Stakeholders' Engagement Session organised by the Federal Ministry of Finance in Abuja, the Corporation explained the role of deposit insurance in safeguarding customers' funds when financial institutions fail.

The engagement aimed to strengthen public confidence in Nigeria's banking system by educating citizens on the protections available and the measures in place to ensure financial stability.

The NDIC reaffirmed its commitment to protecting depositors, maintaining confidence in the banking sector, and supporting a resilient financial system.

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