65% of Nigerians don’t have bank accounts – NDIC

The North East Zonal Controller of the Nigeria Deposit Insurance Corporation, Sabo Gidado, said recent research by the Enhance Financial Inclusion and Access indicated that 65 per cent of Nigerians do not have access to any form of banking facility.

Gidado disclosed this on Monday at a sensitization and awareness lecture to the 2015 Batch ‘A’ corps members from Adawama State, who are camping in Jalingo, Taraba State, by the NDIC.

The News Agency of Nigeria reports that Adamawa State corps members are currently holding their orientation in Taraba State due to the activities of insurgents in their state of posting.

Gidado said the percentage consisted of people in the rural areas and low income earners due to unemployment and distance to banks, among other reasons.

The zonal controller noted that NDIC, in collaboration with other financial institutions, was committed to reducing the population of people not engaging in banking activities in the country.

He urged the corps members not to entertain any fear saving money in Nigeria banks, stressing that all banks in the country were fully insured with the corporation.

Gidado explained that with the NDIC, a customer’s money was safe and in case of bank failure, the Corporation has guaranteed payment of deposits up to a maximum amount.

“In case of any bank failure, NDIC guarantees payment of customers deposits within 90 days,” he said.

Gidado told the corps members that as one of the safety-net participants in Nigeria, the NDIC would continue to effectively discharge its mandate of insuring Nigeria banks, thereby sustaining public confidence and financial stability in the nation’s banking system.

NAN.