As a major indicator of wealth distribution in Nigeria across income groups, a mere two per cent of Nigerians own 90 per cent of total deposits in Nigerian banks.
This represents the wide gap between the rich and the poor in Nigeria, which continues to pose major socio-economic development challenges to the nation.
Director of Research and International Relations at the Nigeria Deposit Insurance Corporation, NDIC, Alhaji Mohammed Umar, disclosed this at the Businessday Capital Market Development Annual Conference in Abuja, yesterday.

His words: “Our current deposit insurance coverage is N500, 000 for the Deposit Money Banks. And some people have said that it is low. I can tell you that it is very adequate for the majority of accounts.
“It will interest you to know that it covers over 90 per cent of accounts in the country. Indeed, Nigerians who have more than N500, 000 in their accounts are just two per cent.

“What we found is that this two per cent Nigerians have 90 per cent of banks’ total deposits. Look at that - two per cent Nigerians own 90 per cent of total banks deposits, while the remaining 98 per cent have just 10 per cent of total deposits. What that tells you is that the gap between the rich and the poor has continued in this country.”

Alhaji Umar added that there were about 70 million bank account holders in the country.
The total bank deposits stood at N17.2 trillion, as at December 2015, according to a post on the Central Bank of Nigeria, CBN, website.


Source: http://www.vanguardngr.com/2016/06/2-nigerians-90-bank-deposits-ndic/

The poor are getting poorer, the politicians are getting richer

If you are vast that you know about the
Pareto principle or the 80\20 rule

click like




The situation here may not be 20\80 but its synonymous

Tastemoney:
The poor are getting poorer, the politicians are getting richer

There are Nigerians who run legitimate businesses in this country and control more money than even those politicians you think. It's sad that a few people have more money than the majority of the population, but there's nothing you can do about it except to figure out how to join the rich. More Nigerians should think outside the box and embrace entrepreneurship.

My opinion.

no doubt

I know because I belong to the 2% by faith

fh

Indeed, there's such a huge gap between the poor and the "comfortable"; and the gap between the poor and the rich cannot even be imagined. Mere 2%?!!!


See questions and answers on forming a company in Nigeria
https://www.nairaland.com/3093715/company-formation-nigeria-q

Just 2%!

Ogbenii

k

When will we get things right o Lord?
Should I start telling my kids Dat naija go better just d way I was decieved by my dad years ago

prouldly a 2% Nigerian

K

onye putara ULA na ututu kene Jehova

Karl max predicted this long time ago... these 2% are mostly politicians. Instead of them to embrace policies that will encourage wealth circulation, they keep saving it for their unborn generation. They have forgotten that a bad economy cannot preserve wealth.

Agbako lawon weyrey yii sha

Wow..... just 2%.... Ooooh my Nigeria... It can onli get better!!

God is watching you all in 4d. Mar'aba bikum ya Romadan to all Muslim brothers and sisters in the world.

.

What should we do?

Naija don finish ! Lord bring back Naija

2% of Nigerians are politicians and business tycoons sponsoring politicians

Naija which way na

.

No be today na

InyinyaAgbaOku:
prouldly a 2% Nigerian

me too

Who keeps money in the bank when you don't even have what to eat?

...

90% of Nigerians are therefore in the poverty line. That's over 150 million people

Hmmm

In Fela's voice poor man dey cry , rich man dey mess