Arrangement of Sections
PART I: ESTABLISHMENT AND FUNCTIONS OF THE CORPORATION
1. Establishment of the Nigeria Deposit Insurance Corporation
2. Functions of the Corporation
3. Prohibition against proliferation of Deposit Insurance Scheme
PART II: ADMINISTRATION
6. Disqualification of members of the Board
8. Appointment of Managing Director and Executive Directors etc
9. Appointment of Secretary and other staff
PART III: CAPITAL AND FUNDS OF THE ORGANIZATION
13. Bank account and investment of the funds of the Corporation
PART IV: DEPOSIT INSURANCE SCHEME
15. Participating Institutions
17. Assessment of insured institutions and special contribution
18. Payment of Dividends by Insured Institutions while in Default of Assessment
21. Payment of insured deposit
22. Power to withhold deposits or discharge of the Corporation
PART V: NOTICE OF TERMINATION OF INSURED STATUS
24. Conditions for termination
25. Procedure for termination of Insured status
26. Conditions for participation after termination
PART VI: SUPERVISION OF INSURED INSTITUTIONS
27. Power of the Corporation to require information
PART VII: DUTIES OF INSURED INSTITUTIONS
34. Obligations in respect of unauthorized disclosure
35. Returns on frauds and forgeries
36. Notification to the corporation of dismissed staff and employment of dismissed staff
PART VIII RESTRUCTURING OF FAILING INSURED INSTITUTION
38. Management and restructuring of failing Insured Institutions.
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