NewStats: 3,259,835 , 8,170,947 topics. Date: Monday, 26 May 2025 at 05:38 AM 10c2l

PotatoSalad:

No is ever safe. It's even safer to save your money in a safe at home.

not even safe there. Even in ur scrotum.. nothing is ever safe in Nigeria.. especially now the druggie is on seat2.

OlujobaSamuel:

If you have less than 5m, you get you full fund, if you have more than, you get 5m, then when the company assets is liquidated, they place your remaining balance on shares and convert the proceeds to dividend, so you get your balance in form of dividends just the way they settled others (bank owners) as you will be classified as owners by then and not just depositors

Aahh, omo

Una too sabi book for this space ooh

Everything no just enter my head, see as a dey look like dundil

Insured deposit sum is N5m or less, anything in excess of that........your loss.

Another lesson not to keep too much money in the bank.

One thing is to have multiple s in Nigeria and u have to keep updates on the banks day and night.. any ill news about any of the banks u have much funds on , then u have to just move ur funds asap to another ... don't wait to be told what to do. To survive in this era and this istration u have to emulate the stone age lifestyle.

Saturnalia:


This is why it is never advisable to buy shares in any Bank unless you’re buying the majority stake like Femi Otedola did with First Bank.

If the Bank liquidates, Na the Toro-Kobo customers go use their head carry skibo.

Between last week and tonight, GTBANK sent me more than 20 emails asking me to buy shares. I just dey delete the useless messages.

Make I buy shares with my money make Oloriburuku Segun Agbaje buy Latest Benz GLS and stamp customized License Plate 007 on it like he does with all his vehicles?

Imagine selling shares for N44.50? Even Zenith Bank is selling their useless shares for N36.50 ; whereas Femi Otedola bought his own shares at N21.

No be me tell them to mismanage their assets & liquidity. E no go better for all of them.

Access Bank own Na him still dey vex me . They sent money into my Access Bank and the fraudulent Bank debited me for “Electronic Transfer Levy”. I no fit talk.

Sanusi Lamido Sanusi remains the best CBN Governor Nigeria ever produced.

I thought I was the only one utterly pissed by the bolded.

Instead of buying their nonsense shares, I'll prefer to use the money to buy stocks in S&P 500 companies.

Nigerian banks are useless.

Sweeetheart:
Instead of putting your money in the bank, why not invest it on buying a secured land with govt approved documents, whenever you need your money you can always resell and even get higher



Like a man that bought a acre of land at my area around 2005 at 800k, one plot is sold 4m now, × 6 plots

The man is lucky to still have the land.
Not all land cases are as sweet as this.

Land mata no be moi moi oo.

Praxis758:
What about customers from Savannah Bank?

I was having about 40k in Savannah bank before it was liquidated. Just move on bro that bank is gone.

Please, how do one go about buying stocks in any of the S&P 500 companies?

XploraBen:

I thought I was the only one utterly pissed by the bolded.

Instead of buying their nonsense shares, I'll prefer to use the money to buy stocks in S&P 500 companies.

Nigerian banks are useless.

Mrexcell:
So what the ndic is saying here is that only #5m of customers money in nigerian banks is actually insured with the cbn anything above #5m might enter voice mail if ur bank is liquidated? This policy won't encourage nigerians to leave huge amounts in their local bank s.

If one is going to leave huge amounts of money in a bank ,and it won't be a working funds , isn't it better to just convert it into a stable currency, like gold and silver ( you have to that it's not fake gold oh, or gold mixed with tin) and hide it in a hidden personal safe .

How I miss Gaddafi. If he had introduced the Africa gold coin, you could have single coins that could worth ₦100,000 per piece, and so you , for example, if you want to save ₦1billion in your house , 10000 of those coins can be saved in 3 different hidden Safe boxes.
So, it would had been easy to do a ₦10m transaction , say, from Ghana to Nigeria, once a reliable clearing house ( bank) is agreed on.


May the curse of heaven and earth fall on , US, NATO and all those Arabs who betrayed Africa.

, gold had been used in Kemet for over 5000 yrs, and it's value has always been stable.

The dollar is on its way out.

cc: deepsight, malali, MichaelSokoto

Saturnalia:


This is why it is never advisable to buy shares in any Bank unless you’re buying the majority stake like Femi Otedola did with First Bank.

If the Bank liquidates, Na the Toro-Kobo customers go use their head carry skibo.

Between last week and tonight, GTBANK sent me more than 20 emails asking me to buy shares. I just dey delete the useless messages.

Make I buy shares with my money make Oloriburuku Segun Agbaje buy Latest Benz GLS and stamp customized License Plate 007 on it like he does with all his vehicles?

Imagine selling shares for N44.50? Even Zenith Bank is selling their useless shares for N36.50 ; whereas Femi Otedola bought his own shares at N21.

No be me tell them to mismanage their assets & liquidity. E no go better for all of them.

Access Bank own Na him still dey vex me . They sent money into my Access Bank and the fraudulent Bank debited me for “Electronic Transfer Levy”. I no fit talk.

Sanusi Lamido Sanusi remains the best CBN Governor Nigeria ever produced.

Access bank is the grandmaster of them all. They sometimes randomly just do it when when you have not even made any transaction. When you enquire, they will say electronic money blahblahblah and they removed same money when the transaction occurred.

Send money from your other to your access, access will still debit for electronic money blahblahblah

Praxis758:
What about customers from Savannah Bank?

You carry me go back memory lane.
They still owe my aunt 7.06billion

caye:


If one is going to leave huge amounts of money in a bank ,and it won't be a working funds , isn't it better to just convert it into a stable currency, like gold and silver ( you have to that it's not fake gold oh, or gold mixed with tin) and hide it in a hidden personal safe .

How I miss Gaddafi. If he had introduced the Africa gold coin, you could have single coins that could worth ₦100,000 per piece, and so you , for example, if you want to save ₦1billion in your house , 10000 of those coins can be saved in 3 different hidden Safe boxes.
So, it would had been easy to do a ₦10m transaction , say, from Ghana to Nigeria, once a reliable clearing house ( bank) is agreed on.


May the curse of heaven and earth fall on , US, NATO and all those Arabs who betrayed Africa.

, gold had been used in Kemet for over 5000 yrs, and it's value has always been stable.

The dollar is on its way out.

cc: deepsight, malali, MichaelSokoto

Keeping cash in the bank at 26% inflation is the most stupid thing anyone can do. If you leave hundred naira, at the end of the year it can only buy you 74naira worth of items now because you lose 26% to inflation.
Best thing is to buy treasury bills, once you keep your emergency money in the bank. Buy treasury bills. Thats the money the government never fails to pay. If bank collapses you lose your money. Treasury bills "never" collapses, even if they do a coup, they will still pay treasury bills.

poiZon:

What does talk to Ur Lawmakers mean?

Insured deposits is usually a function of law, and not just a policy statement, so to alter it, the consent of the lawmakers is required.
If you are appointed the head of ndic today, even though you have it as an idea, you can't just change it, that's what I mean by talk to your lawmakers.

OgogoroDegree:


Please give hints on how you go about it?
Especially getting intel on bank financial status.
Thanks

When you hear customers complaining about incessant network issues, ATM machines not working, finding difficulty using the online platform, 2 to 3 within an area always having skeletal services like no light, empty banking hall, etc, then you follow news report

Saturnalia:


This is why it is never advisable to buy shares in any Bank unless you’re buying the majority stake like Femi Otedola did with First Bank.

If the Bank liquidates, Na the Toro-Kobo customers go use their head carry skibo.

Between last week and tonight, GTBANK sent me more than 20 emails asking me to buy shares. I just dey delete the useless messages.

Make I buy shares with my money make Oloriburuku Segun Agbaje buy Latest Benz GLS and stamp customized License Plate 007 on it like he does with all his vehicles?

Imagine selling shares for N44.50? Even Zenith Bank is selling their useless shares for N36.50 ; whereas Femi Otedola bought his own shares at N21.

No be me tell them to mismanage their assets & liquidity. E no go better for all of them.

Access Bank own Na him still dey vex me . They sent money into my Access Bank and the fraudulent Bank debited me for “Electronic Transfer Levy”. I no fit talk.

Sanusi Lamido Sanusi remains the best CBN Governor Nigeria ever produced.

Correct.

Those are all EVIL men leveraging on the ignorance of the downtroddens.

caye:


If one is going to leave huge amounts of money in a bank ,and it won't be a working funds , isn't it better to just convert it into a stable currency, like gold and silver ( you have to that it's not fake gold oh, or gold mixed with tin) and hide it in a hidden personal safe .

How I miss Gaddafi. If he had introduced the Africa gold coin, you could have single coins that could worth ₦100,000 per piece, and so you , for example, if you want to save ₦1billion in your house , 10000 of those coins can be saved in 3 different hidden Safe boxes.
So, it would had been easy to do a ₦10m transaction , say, from Ghana to Nigeria, once a reliable clearing house ( bank) is agreed on.


May the curse of heaven and earth fall on , US, NATO and all those Arabs who betrayed Africa.

, gold had been used in Kemet for over 5000 yrs, and it's value has always been stable.

The dollar is on its way out.

cc: deepsight, malali, MichaelSokoto

Which country is kemet?

Clearly, from the comments and the (misleading) topic of this thread, many Nigerians don't have the slightest idea what Deposit Insurance is and how it works. I used to be like that too!

Pls, go to the NDIC website and educate yourself before you disgrace your clan online one day 😂🤣🤣

BeeBeeOoh:


https://punchng.com/just-in-ndic-gives-n5m-each-to-defunct-heritage-bank-customers/

This must be a big joke of the century..Imagine having over 20M in ur and you are now been told that you only have 5M insured after the liquidation of ur bank, Lolz. Blood go flow😀😀😀

Lacash:
This must be a big joke of the century..Imagine having over 20M in ur and you are now been told that you only have 5M insured after the liquidation of ur bank, Lolz. Blood go flow😀😀😀

Are you familiar with the term "Liquidation Dividends"? 🤣

Okoroawusa:
Heritage Bank was a planned fraud right from inception.

I don't know why some people don't do proper investigation before opening in bank. Bukola Saraki the former Senate president is the chief promoter of heritage bank and he was the gmd of society generale bank (SGB), own by his father that okocha lost huge amount of cash back in the days.

lonelydora:
Just imagine!

Heritage bank failure is politically just like Oceanic bank and others.

Unity Bank and Providus Bank (both Northern banks) were given soft landing to merge.

Why didn't they give Heritage bank (Southerner bank) the same soft landing?

What is good for Musa and also good for Ibinabo.

Don't say what you don't know. The former governor of kwara and former Senate president, bukola Saraki family are the major shareholders.

Mrexcell:




Which country is kemet?

Khemet or Kemet, was the ORIGINAL NAME the black ppl who founded that land called it. It means " the Black Land".

After the European came to learn from their civilization, they infiltrated the royal house ( due to weaknesses over thousands of years) and they took over , relegated the original black royalty and her ppls and renamed it Egypt.

kedeojo:
I don't know why some people don't do proper investigation before opening in bank. Bukola Saraki the former Senate president is the chief promoter of heritage bank and he was the gmd of society generale bank (SGB), own by his father that okocha lost huge amount of cash back in the days.

I once saw an old woman in the market.
She had been mad and insane for years, always roving about , and looking sad.
I was told that what triggered her mental disorder was she lost ALL HER LIFE SAVINGS in societè generale bank.

lonelydora:
Just imagine!

Heritage bank failure is politically just like Oceanic bank and others.

Unity Bank and Providus Bank (both Northern banks) were given soft landing to merge.

Why didn't they give Heritage bank (Southerner bank) the same soft landing?

What is good for Musa and also good for Ibinabo.

Who told you providus is a northern bank, it is owned by a southwesterner FYI.

Mrexcell:
So what the ndic is saying here is that only #5m of customers money in nigerian banks is actually insured with the cbn anything above #5m might enter voice mail if ur bank is liquidated? This policy won't encourage nigerians to leave huge amounts in their local bank s.

That is the immediate amount you can get, thereafter you can get more is they have more liquid assets on ground or you wait a little for the fixed assets to be sold. The idea is to ensure that everyone get something at the first distribution. NDIC has done greatly well in the case of heritage bank. Though there was a little shift from the promised period for payment but they kept to their promise and paid.

PotatoSalad:

No is ever safe. It's even safer to save your money in a safe at home.

Last year, 2 banks suddenly closed down in America.
Let that sink in.

malali:


Keeping cash in the bank at 26% inflation is the most stupid thing anyone can do. If you leave hundred naira, at the end of the year it can only buy you 74naira worth of items now because you lose 26% to inflation.
Best thing is to buy treasury bills, once you keep your emergency money in the bank. Buy treasury bills. Thats the money the government never fails to pay. If bank collapses you lose your money. Treasury bills "never" collapses, even if they do a coup, they will still pay treasury bills.

What are treasury bills and how does one go about that please?

ManoelCzar:


What are treasury bills and how does one go about that please?

Treasury Bills are short term instruments issued by CBN on behalf of FGN at a discount. These do not yield any interest but are issued at a discount and repaid at par when it gets matured.
E.g if its 30% tbills you give them 70naira they you 100naira at term. Go to your bank and tell them you want to buy tbills. Sold only once a month.

Zetty177x:


Thieves nko? Them go come carry safe o.

Na why e be safe. Dem no go know where e dey 😂😂

Ruuchiinaa:
Please, how do one go about buying stocks in any of the S&P 500 companies?

You have to make your own research.
But to get started, the Bamboo app and thereafter watch a couple of YouTube videos to gain better understanding about how to buy these stocks.