What Happens To My Money If My Bank Closes Down? - Business - Nairaland
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| What Happens To My Money If My Bank Closes Down? by Wayne4uall(m): 8:32pm On Dec 03, 2018 |
I am scared because the way eco bank has been operating for the past one month, may be i should close down my account with them and withdraw all my money... |
| Re: What Happens To My Money If My Bank Closes Down? by Kenzico(m): 8:48pm On Dec 03, 2018 |
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| Re: What Happens To My Money If My Bank Closes Down? by economia1: 9:04pm On Dec 03, 2018 |
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| Re: What Happens To My Money If My Bank Closes Down? by ehinmowo: 2:30am On Dec 04, 2018 |
Banks cannot just close down like that again in Nigeria. For a stater, every commercial bank operating in the country has abt 25bn with CBN as a back up. AMCON (Asset Management Company of Nigeria) will take over any ailing company, including bank (like the case of Bank PHB. now Keystone Bank). If all these fail, NDIC insures every deposit in every bank in Nigeria up to 2 million naira for commercial banks. In order words, if the bank fails, you will get something from your deposit (you will need proves though). 1 Like |
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