Established under the Nigeria Deposit Insurance Corporation (NDIC) Act No. 22 of 1988 that was repealed and replaced with the NDIC Act No.16 of 2006, the NDIC has remained a key building block in the Nigerian safety net. Its main responsibility is to administer the deposit insurance scheme in Nigeria, with a view to protecting depositors and contributing to financial system stability in Nigeria.
During the year under review, progress was made in the implementation of the NDIC strategic plan for the period 2011-2015, geared towards the fulfillment of its vision and mission. Briefly presented in this section are the NDIC's Public Policy Objectives, Functions, Mandate, Core Values as well as a brief report on the progress made on the implementation of the 2011-2015 Strategic Plan.