“Bitcoins yet to be approved by Nigerian regulators, Don’t Invest” Says – NDIC

Represented by the Director, Claims Resolution, Mr. A.S Bello, the CEO said: “The protection of the depositor remains our top priority.

is why we continue to stress the need for depositors to patronise only
financial institutions that are licensed by the CBN and which display
the NDIC Sticker with the words ‘insured by NDIC’ in their banking halls
or entrances.

“It is for this reason that I must sound a
word of warning against patronising dubious fund managers, otherwise
known as “Wonder Banks”. They persuade their unsuspecting victims to
part with their hard earned money with promises of interest rates that
are unrealistically high as the returns on their investments.

“The result is the loss of vital savings and sometimes disastrous consequences to the lives of the victims.
the emerging trend of investing in digital currencies popularly known
as Bitcoins is equally dangerous because just like the “Wonder Banks’,
the digital currencies are not licensed by the CBN and are therefore not
insured by the NDIC.”

Ibrahim disclosed that the corporation
had paid over N100 billion to depositors of liquidated banks, adding
that the payments were announced via newspapers, radio and television.
implore those depositors who have not responded to our calls to come
forward to collect their insured deposits and liquidation dividends
already declared for uninsured deposits,”
 he added.

Add a Comment

Your email address will not be published. Required fields are marked *