Why some Nigerian banks fail – NDIC
Some deposit money banks failed in Nigeria as a result of massive insider abuses by their owners and officials, theAlso, the corporation identified weak board of directors’ structure, poor corporate governance arrangement, inadequate risk management processes, inadequate capital, weak regulatory and supervisory measures as well as economic and political factors as other reasons.
Other concerns include the legal actions of owners of closed banks, protracted litigations, disposal of low-quality physical assets of the closed banks and provision of timely liquidity support. Mr Abiodun said through efficient and diligent liquidation activities, the corporation has successfully paid in full the deposits of customers of 18 DMBs that were both insured and uninsured.
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