NDIC Grants Banks N192.6bn Rebate The Nigeria Deposit Insurance Corporation on Sunday said a total sum of N192.6bn had been granted as insurance rebate to Deposit Money Banks within the last three years. The corporation, in a statement in Abuja, said the reduction of insurance premium paid by DMBs from 0.5 per cent to 0.40 per cent was responsible for figure. A breakdown of the N192.6bn showed that an insurance rebate of N53bn was granted in 2012, while N63.6bn and N75.98bn were given as rebates in 2013 and 2014 respectively. It said, “The Corporation began the insurance premium rebate since the commencement of DPAS in 2008 but the import began in 2010 sequel to the Board’s decision to contribute to the Financial Stability Fund that was spearheaded by the Central Bank of Nigeria. READ MORE: firstafricanews.ng/index.php?dbs=openlist&s=12747#sthash.iJsGrFgv.dpuf
Posted on: Sun, 25 Jan 2015 18:55:17 +0000
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