ABUJA — More than 98 per cent of bank depositors in Nigeria are fully covered by deposit insurance, the Managing Director of the Nigeria Deposit Insurance Corporation, Thompson Sunday, said at the Abuja International Trade Fair. Since 2024, cover has been N5 million per depositor in commercial and merchant banks and N2 million in microfinance and primary mortgage banks. He said depositors of failed banks can now be paid within days using BVN and NIBSS systems.