NDIC warns Nigerians not to insure investment with fund managers

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Director, Communication & Public Affairs Department, NDIC, Bashir Nuhu, stated this in a statement disowning claims by some fund managers that investment with them is covered by the corporation.

He said: “With the recent increase in investment channels arising from innovative products, there has been an increase in illegal fund managers who have been using different platforms soliciting public to invest their funds with them, promising excessive returns on such investments.

“In order to protect unsuspecting depositors, it has become necessary for the Nigeria Deposit Insurance Corporation to continue sensitizing the public on the high risk associated with investing funds with illegal funds managers.

 

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