Avoid Ponzi Schemes, Investment Platforms Not Covered by CBN - NDIC Warns Nigerians

Avoid ponzi schemes, investment platforms not covered by CBN - NDIC warns Nigerians

The Nigeria Deposit Insurance Corporation has warned Nigerians against investing in Ponzi schemes and other fraudulent investment platforms, noting that funds placed in such schemes are not protected by deposit insurance. The NDIC Managing Director, Mr Thompson Sunday, gave the warning at the Corporation’s special day at the 20th Abuja International Trade Fair on Thursday, organised by the Abuja Chamber of Commerce and Industry, ACCI. Mr Sunday,…

Avoid Ponzi Scams, losses, keep money only in CBN-Licensed Banks

The Nigeria Deposit Insurance Corporation (NDIC) is sounding the alarm: keep your money only in CBN-licensed banks. Anything else—Ponzi apps, “investment clubs,” unlicensed wallets—is outside deposit insurance and puts your savings at risk. Speaking at the Abuja International Trade Fair, NDIC leadership reaffirmed its core mandate: protecting insured deposits, stabilising banks, and resolving failures without …