The NDIC (Nigeria Deposit Insurance Corporation) is an independent agency of the Federal Government of Nigeria. The purpose of the deposit insurance system is to protect depositors and guarantee the settlement of insured funds when a deposit-taking financial institution can no longer repay their deposits, thereby helping to maintain financial system stability. The history of Nigeria Deposit…

How NDIC (Nigerian Deposit Insurance Corporation) protects bank depositors against Loss The NDIC (Nigeria Deposit Insurance Corporation) is an independent agency of the Federal Government of Nigeria. The purpose of the deposit insurance system is to protect depositors and guarantee the settlement of insured funds when a deposit-taking financial institution can no longer repay their deposits, thereby…

Answer: No. Deposit insurance is different from conventional insurance in several respects. Some of the differences include the following: a. Deposit insurance is a regulatory tool aimed at ensuring the safety, soundness and stability of a nation’s financial system, thereby protecting the macro-economy at large. On the other hand, conventional insurance policy is designed only to…

Abuja has 93 districts, 5 phases, 22 sector centres, 3 industrial areas, an institutional research district, 2 central area districts and a national park Abuja city consists of about ninety-three (93) districts in the five phases, with twenty-two (22) Sector Centres, three (3) Industrial Areas, an Institution Research District as well as two (2) Central…

The places designated as Satellite Towns of Abuja are: However, Gosa, Abuja North West and Abuja South West were dropped due to the fact that they were essentially within the Capital City area. There are therefore Seven Satellite Towns (i-vii above) designated for development. Abuja Abuja, Nigeria’s capital, is a purpose built city. It was…

Compensation for inhabitants of Abuja affected by relocation due to urbanisation is being made for their crops, economic trees and structures like buildings among others.  The FCDA’s (Federal Capital Development Authority’s) Department of Resettlement and Compensation makes policies, guidelines and implementation of resettlement schemes; and the payment of compensation for crops, economic trees and structures. …

Abuja is located in the centre of Nigeria and has a land area of 8,000 square Kilometers. It is bounded on the north by Kaduna state, on the west by Niger state, on the east and south-east by Nasarawa state and on the south-west by Kogi state. It falls within latitude 7 45′ and 7…

Abuja, Nigeria’s capital, is a purpose built city. It was built to serve as the country’s capital. Abuja was initially a sparsely populated rural area At the inception of the city, the village was a sparsely populated area; which was one of the reasons for the choice of site. Abuja was chosen to replace Lagos…

FCCPC – HQ Address: 23 Jimmy Carter Street, Asokoro, Abuja.Phone: 0805 600 2020, 0805 600 3030Email: contact@fccpc.gov.ng KANO OFFICE (KO) Address: 6 th Floor, Federal Secretariat Complex, No. 1 Murtala Mohammed Way, Kano.Phone: 081-4800-7378Email: kano@fccpc.gov.ng LAGOS OFFICE (LO) Address: 3B Ladoke Akintola Street, G.R.A, Ikeja, Lagos State.Phone: 081-4717-0730Email: lagos@fccpc.gov.ng NORTH-CENTRAL ZONAL OFFICE (NCZO) Address: 1st Floor A6 Abudullahi Kure House, opposite WTC, Muazu Mohammed Road,…

What is FCCPC? FCCPC is an acronym for Federal Competition and Consumer Protection Commission. FCCPC was established by Act no 66 of 1992 (now FCCPC Act Cap C25, LFN 2004) and commenced operations in 1999. FCCPC is an agency under the Federal Ministry of Industry, Trade and Investment (FMITI). What kinds of complaint can I…