NDIC Proposes ₦589.89bn 2026 Budget Following Record 97% Performance in 2025

By 𝔸bdulrazak Tomiwa

The Nigeria Deposit Insurance Corporation (NDIC) has reported a remarkable 97% performance for its 2025 budget. 

This high execution rate reflects the corporation’s efficiency in managing its financial resources and meeting its operational mandates throughout the fiscal year.

Building on this success, the NDIC has proposed a budget of ₦589.89 billion for the 2026 fiscal year. This proposal was presented during a budget defense session before the relevant National Assembly committees to ensure continued stability in the banking sector.

A significant portion of the 2026 budget is earmarked for boosting the Deposit Insurance Fund (DIF). This increase is aimed at strengthening the corporation’s capacity to protect depositors and maintain public confidence in the Nigerian financial system.

The NDIC management highlighted that the new budget will also focus on upgrading technological infrastructure. By adopting advanced digital tools, the corporation plans to enhance its supervisory capabilities and streamline the process of bank liquidation and payment to depositors.

Personnel and administrative costs are also accounted for in the ₦589.89 billion proposal. The corporation emphasized the need to retain top-tier talent and provide continuous training to navigate the evolving risks within the global and local financial landscapes.

Lawmakers commended the NDIC for its transparent financial reporting and its role in safeguarding the economy. The committee promised to review the 2026 proposal thoroughly to ensure it aligns with national economic goals and provides adequate protection for small depositors.