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Nigeria deposit insurance corporation has cancelled all banks in the country to restore banking services to the north eastern part of the country. The managing director/chief executive of NDIC, Alhaji umaru Ibrahim made this statement while speaking at the corporation’s maiden stakeholders town hall meeting in kano state.

Alhaji Umaru Ibrahim said that he wants to remind  us of the need to move into the north eastern part of the country that is just coming out of the ravages of book haram. We all have a responsibility, all the banks, CBN and ourselves, to move into the north east. The economy needs to be rebuilt, the federal govt, state govt, yobe, borno, adamawa states are doing their best. But without adequate banking services without access to finance, the progress in that area will be retarded.

There is a blue print for that which the Central Bank of Nigeria developed about 4 years ago but it could not be put into action because of the unfortunate phenomenon of boko haram. Happily, boko haram has been dealt with, so I am pleading with the banks that are here to continue to sensitise your headquarters of the need to provide banking service to the people in that part of the country.

Alhaji Ibrahim also explained that the stakeholders town hall meeting was organized as part of efforts to promote consumer protection through financial education. He also said that the theme of this town hall “bank customer protection: The role of NDIC”, has come to a very auspicious time when the country is in serious need for positive attitude to bring back the economy. This would further demonstrate the corporation’s determination towards promoting consumer protection in furtherance of the quest for financial education to achieve financial inclusion.


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