Highlights of the NDIC 2012 Annual Report and Statement of Account

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Nigeria Deposit Insurance Corporation

Insurance Activities and Management of Deposit Insurance Funds; Surveillance of Insured Deposit-taking Financial Institutions in 2012; Resolution and Management of failed Insured Deposit-taking Financial Institutions; Review of NDIC Enabling Act, Research Activities and Institutional Relationships; Corporate Governance; Financial Conditions of Insured Deposit Money Banks in 2012; Insured Banks’ Report on Frauds/Forgeries and Fidelity Bond Insurance Cover; Major Developments in other Insured Deposit-taking Financial Institutions

The 2012 NDIC Annual Report and Statement of Accounts is divided into three (3) parts organized into 17 sections, that includes facts about deposit insurance system (DIS) in Nigeria (Section 16) and DIS Glossary (Section 17) for consumer education. The sections are in addition to the Message from the Chairman and the Report of the Managing Director/Chief Executive. This executive summary provides the highlights of some Sections of the report that deals with the operations of the Corporation as well as the state of the banking industry in 2012.