Nigeria Deposit Insurance Corporation

Nigeria Deposit Insurance Corporation

The Board of the Nigeria Deposit Insurance Corporation (NDIC) has approved the immediate release of N1 billion Naira to the COVID-19 Relief Fund to fight the Coronavirus pandemic in Nigeria.

Mr. Sunday Oluyemi, Director of Communication and Public Affairs, posted this on the NDIC official twitter handle on Thursday.

Oluyemi said the board acknowledged that the corporation has been consistent with its Corporate Social Responsibility, (CSR).

It is also heartened that the money would be utilised in the provision of equipment and medical facilities in the country.


Oluyemi recalled that the Bankers Committee led by the Central Bank of Nigeria (CBN) at its emergency teleconference call meeting held on March 30 announced that the committee and the private sector had set up an account at the CBN under the auspices of the Private Sector Coalition Against COVID-19.

“The fund receives contributions from individuals as well as corporate organisations to complement the efforts of the Federal Government as it strives to contain the spread of the pandemic in Nigeria,” he said.