1
Nigerian Languages / Re: cryptocurrency involvement: CBN Ban Monipoint Opay Odas to Register New Accounts
« Last post by Cantsay on Today at 06:11:41 PM »Deposit Insurance
They are also trying to regulate the maximum amount to be deposited in to banks and they set the maximum of NGN500,000 to NGN1,000,000 and I was thinking of how that is possible. Those Economics Scholars should explain this image.
I don’t think that’s what they mean by deposit insurance - basically what that means is that if any thing happen to the bank and then they lost all their money, the money wey customers go fit collect nah 1M so if you get like 2 billion Naira for your account and some incident happen wey lead to the crashing of your bank and them losing all their funds out of those 2 billion wey Dey your account nah only 1M the bank go give you inside.