Guidelines on financial and technical assistance to operating insured banks and deposit taking financial institutions.
Date
2014
Journal Title
Journal ISSN
Volume Title
Publisher
Nigeria Deposit Insurance Corporation
Abstract
Policy objectives pg.3; Types of assistance to insured institutions pg.4; The procedure for granting financial assistance pg.6; Security and repayment pg.8; Formal agreement with the corporation for financial and technical assistance pg.8; Supplementary issues pg.10.
Description
The Policy Guidelines on Financial and Technical Assistance for operating insured banks and other deposit taking financial institutions is aimed at broadening the statutory responsibilities of the Corporation to provide consistent and equitable financial assistance to the insured banks. The NDIC Act 2006 empowers the Corporation under sections 2 (1) (b) to give assistance to insured institutions in the interest of depositors, in case of imminent or actual financial difficulties particularly where suspension of payments is threatened to avoid damage to public confidence in the banking system.