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The Nigeria Deposit Insurance Corporation (NDIC) was established by Decree No. 22 of 1988 (which was replaced by the NDIC Act No. 16, 2006) and commenced operation in March, 1989.  The NDIC is an autonomous body (i.e. an independent agent of Government) which acts as an additional supervisory authority over licensed banks and other deposit-taking financial institutions.  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 depositors, thereby helping to maintain financial system stability.

NDIC is a highly dynamic organization, which provides a veritable ground for those who are pragmatic, innovative, focused and hardworking to develop themselves.  Each employee belongs to the ‘NDIC Family’, which refers to the warmth and respect each person accords to fellow colleagues.

There are no unnecessary bureaucratic bottlenecks, which impede workflow and processes.  The Corporation provides tools necessary for the execution of any assignment and individuals are duly guided through all procedures, which are necessary for effective and timely completion of jobs.  All our work processes are enhanced with full deployment of Information Technology.
The members of the NDIC Family are happy employees as their efforts and contributions to the overall growth of the organization are promptly recognized and rewarded.

NDIC is an organization for everyone.  Staff come from varied educational and cultural backgrounds bringing with them a wealth of experience and this encourages a continous social learning and inter-cultural interaction.  Employees are not discriminated on the basis of their sex, religion, tribe or ethnicity.  The principle of Federal Character as enshrined in the constitution is strictly adhered to when   recruiting personnel.