Sanni Marvelous
The Nigeria Deposit Insurance Corporation (NDIC) has projected a ₦254.74 billion surplus for 2026 and announced plans to remit ₦252.6 billion to the Federal Government in line with statutory requirements.
The disclosure came on Thursday, as the Corporation presented a proposed ₦589.89 billion budget estimate for the 2026 fiscal year before the House of Representatives Committee on Insurance and Actuarial Matters. The figure represents an increase of ₦151.22 billion over the 2025 appropriation, reflecting expanded operational commitments, heightened supervisory responsibilities, and a strategic focus on strengthening depositor protection and financial system stability.
According to the agency, its projected total expenditure for 2026 stands at ₦250.46 billion, representing 50 per cent of expected income and complying with the statutory cost-to-income ratio framework. Under the Fiscal Responsibility provisions, government-owned enterprises are required to remit 50 per cent of their operating surplus to the Consolidated Revenue Fund.
Managing Director/Chief Executive, Mr. Thompson Sunday, said the Corporation’s financial projections are structured to sustain regulatory stability, enhance operational efficiency, and further strengthen depositor confidence in Nigeria’s banking system.
He added that NDIC remains committed to prudent financial management as a self-funding regulatory institution capable of meeting its remittance obligations without undermining operational effectiveness.
Chairman of the Committee, Ahmed Babawo, commended the Corporation’s fiscal discipline, revealing that NDIC achieved about 97 per cent implementation of its 2025 budget. He described the performance as remarkable, particularly at a time when several Ministries, Departments and Agencies recorded low or zero capital budget implementation.
The Committee assured the Corporation of continued legislative support to enable it effectively discharge its mandate of protecting depositors and contributing to the overall stability of the nation’s financial system.
