Section 22: Insurable deposit.

All deposits of a licensed bank or any other licensed deposit-taking financial institution shall be insured with the Corporation and premium paid on such deposits accordingly, with the exception of-(a) insider deposits, that is, deposits of staff including directors of the insured institutions;
(b) counterclaims from a person who maintains both deposit and loan account, the former serving as a collateral for the loan;
(c) inter-bank placements; or
(d) such other deposits as may be specified by the Board.