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Nairaland Forum / Nairaland / General / Politics / Are your deposits of over 500 000 at risk (1533 Views)
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Are your deposits of over 500 000 at risk by mynaijaforumcom: 5:25pm On Dec 12, 2019 |
Post has been moved to the link in my Signature |
Re: Are your deposits of over 500 000 at risk by mynaijaforumcom: 5:41pm On Dec 12, 2019 |
The stickers state that deposits are insured only up to 500 000 Naira. Though not in these exact words. |
Re: Are your deposits of over 500 000 at risk by sonofanarchy(m): 5:58pm On Dec 12, 2019 |
time never reach |
Re: Are your deposits of over 500 000 at risk by mynaijaforumcom: 6:00pm On Dec 12, 2019 |
... |
Re: Are your deposits of over 500 000 at risk by seunmsg(m): 6:13pm On Dec 12, 2019 |
mynaijaforumcom: What you see is what you get. Each depositor is guaranteed a minimum of N500,000 at the first instance (if deposit is above N500,000) in case of bank failure. For those with deposit of less than N500,000, they will get exactly the amout they deposited. If there is still money left after liquidation of the bank, they will call the depositors with deposit above N500,000 and share it to them according to their deposit. If the money is enough to pay everybody in full (very unlikely), they will call the shareholder and give them the balance. However, it is highly unlikely for a bank to fail in Nigeria nowadays. If a bank is distressed beyond redemption, CBN and AMCON simply steps in to acquire the bank thereby safeguarding depositors money. The big time shareholders of the bank who are in charge of management simply walk away with the looted bank funds and petty shareholders like you and me lose all our investments. 1 Like |
Re: Are your deposits of over 500 000 at risk by omowolewa: 7:19pm On Dec 12, 2019 |
Yes, you are entitled to 500k after bank's failure. But you may get more after the non-deposit creditors have been settled through disposal of Assets. Though, CBN is really monitoring the banks' Liquidity. Polaris, Keystone and Heritage Banks are good examples. For fear-fear like you, having idle funds that they are not using, please go for Treasury Bills. it's more secured than Deposits. MyDear the best investment is Real Estate. 2 Likes |
Re: Are your deposits of over 500 000 at risk by TonyeBarcanista(m): 7:31pm On Dec 12, 2019 |
seunmsg:What if the depositor has a sum above 500k but spread across 2-3 banks? |
Re: Are your deposits of over 500 000 at risk by seunmsg(m): 7:35pm On Dec 12, 2019 |
TonyeBarcanista: All the three banks cannot fail at the same time now. The portion kept in the failed bank would be the sum to be paid by NDIC. 4 Likes 1 Share |
Re: Are your deposits of over 500 000 at risk by TonyeBarcanista(m): 7:40pm On Dec 12, 2019 |
seunmsg:Then no cause for alarm OP thank you for this |
Re: Are your deposits of over 500 000 at risk by Captainrambo2: 9:13pm On Dec 12, 2019 |
TonyeBarcanista:e be like say you don loot funds keep everywhere. Re you still in Pdp or you have decamped yet again |
Re: Are your deposits of over 500 000 at risk by masseratti: 9:22pm On Dec 12, 2019 |
TonyeBarcanista:you actually get 500k for each accounts even if it's in the same bank or different banks all linked with bvn. |
Re: Are your deposits of over 500 000 at risk by TonyeBarcanista(m): 10:01pm On Dec 12, 2019 |
masseratti:Thanks so much. Fear sha catch me |
Re: Are your deposits of over 500 000 at risk by TonyeBarcanista(m): 10:01pm On Dec 12, 2019 |
Captainrambo2:Hahaha I no be looter o... Legit hustler |
Re: Are your deposits of over 500 000 at risk by mumumugu(m): 10:23pm On Dec 12, 2019 |
omowolewa: flood never do your land something abi. elrufai never demolish your estate before risk dey every where 1 Like |
Re: Are your deposits of over 500 000 at risk by masseratti: 10:57pm On Dec 12, 2019 |
TonyeBarcanista:lolz |
Re: Are your deposits of over 500 000 at risk by Danzakidakura(m): 12:51am On Dec 13, 2019 |
seunmsg:Thanks to Charles Soludo under OBJ. |
Re: Are your deposits of over 500 000 at risk by mynaijaforumcom: 5:44am On Dec 13, 2019 |
Danzakidakura:What were the policies he put in place? |
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