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NDIC warns against "wonder banks"

Written by  Monday, 28 November 2011
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The Nigeria Deposit Insurance Corporation (NDIC) has warned the public against patronising so-called Wonder Banks. Managing Director of the corporation Alhaji Umar Ibrahim said clients should the certification of financial institutions before dealing with them. He said the public should report to the NDIC any suspected wonder bank as well as under-performing microfinance institutions. He added that NDIC has so far closed down 103 weak microfinance banks across the country.
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