Alot of things are happening.... Many business, especially the financial investment circle are crashing... Pls I just need a clear answer...

You lose it forever, you can ask Jay Jay what happened to the money he has with savannah bank

NDIC takes over on your behalf

You can get it back

Sheedymadu1:
Alot of things are happening.... Many business, especially the financial investment circle are crashing... Pls I just need a clear answer...

federal government takes over until they get an acquisition ,but to be on a safer side ,if you are rich oo ,spread ya money to different banks but if you are broke don't bother.

All ban accounts are insured to the tune of ₦100,000 . So if you money is less than 100k you get your money

Woh
It sink into the ocean like the bread on a grey scale

kiss it goodbye son..

In abroad,they will repay u but in naija you go waka,fill form and go house go faint!

You better come and take me out on an expensive date before your bank ran away with your money.

Atleast you're gonna spend it on something meaningful

NDIC pays u 500k

Jennyclay:
You better come and take me out on an expensive date before your bank ran away with your money.

Atleast you're gonna spend it on something meaningful

Why are most Nigerian girls so hungry! Just mistakenly enter Crunches or Apples, na girls fun there eating.

Ohhh

Jennyclay:
You better come and take me out on an expensive date before your bank ran away with your money.

Atleast you're gonna spend it on something meaningful

What's meaningful about the something?

CBN holds domestic fixed deposits for every bank to ensure nothing like this happens, if the bank files for bankruptcy, the CBN as a regulator would create a merger with another bank to safeguard individuals accounts and when a merger isn't possible, CBN would pay the money to all customers but for big wigs they would have to wait for the banks assets to be liquated for cash or the assets can be sold to the customers to recover their funds

You have your deposits insured up to 500k by NDIC, if you have above 500k you will only be paid 500k and don't think if you have 20k in your account you will be paid 500k

Heathrow44:
CBN holds domestic fixed deposits for every bank to ensure nothing like this happens, if the bank files for bankruptcy, the CBN as a regulator would create a merger with another bank to safeguard individuals accounts and when a merger isn't possible, CBN would pay the money to all customers but for big wigs they would have to wait for the banks assets to be liquated for cash or the assets can be sold to the customers to recover their funds

Best answer so far. Mak una make research before you talk.