Your bank is dead, your debt isn’t! NDIC fires warning at loan defaulters

The Nigeria Deposit Insurance Corporation (NDIC) has accused some borrowers of failed banks of deliberately obstructing efforts to recover billions of naira in unpaid loans through asset concealment, court delays and intimidation.The corporation warned that the tactics were slowing the recovery of funds needed to compensate customers of liquidated financial institutions, particularly depositors whose balances exceed the insured limits.