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Is Piggy Bank (online Saving Platform) Insured With NDIC - Business - Nairaland

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Is Piggy Bank (online Saving Platform) Insured With NDIC by ediko5(m): 10:19am On Apr 25, 2019
After going through the details about Piggy Bank (Nigeria Online Saving Platform) i want to start saving my money with them but i don't know if the platform is insured with the Nigeria Deposit Insurance Cooperation (NDIC) to be sure that my deposit is secured in case of any financial hazard in the company.

Without insurance with the NDIC, i don't think any deposit is safe as obtained in standard banks in Nigeria.

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Re: Is Piggy Bank (online Saving Platform) Insured With NDIC by mrsage(m): 10:52am On Apr 25, 2019
Your piggy bank savings are kept in a bank. And all banks are insured by NDIC
Re: Is Piggy Bank (online Saving Platform) Insured With NDIC by ediko5(m): 12:08pm On Apr 25, 2019
mrsage:
Your piggy bank savings are kept in a bank. And all banks are insured by NDIC

This doesn't answer the question above. Is individual deposit insured by NDIC. for instance, let's say I operate an investment scheme, gather the money and deposit them in a bank. My company goes bankrupt or i decide to run away with the money. The investors money is gone even if the authority arrest and prosecute me it can't bring back their money except their individual deposits was insured by NDIC.

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