Nigeria, Dec. 18 -- Depositors of failed banks may soon receive their funds faster as the Nigeria Deposit Insurance Corporation and the Nigeria Inter Bank Settlement System prepare to formalise a deeper partnership aimed at improving digital reimbursement processes.



The move was disclosed in Abuja during a meeting between NDIC management and a delegation from NIBSS, where both institutions reaffirmed their commitment to strengthening depositor protection through technology driven solutions. The planned agreement is expected to enhance coordination and enable quicker verification and payment of insured deposits when banks fail.



The News Chronicle understands that the proposed arrangement will allow better alignment of deposit recor...