NDIC verifies payment of liquidation dividends to 20 closed banks

The Nigeria Deposit Insurance Corporation (NDIC) has commenced verification of depositors of the 22 closed banks for payment of their liquidation dividends. This was stated by the Managing Director/Chief Executive of NDIC, Bello Hassan, at the special day of the corporation during the ongoing 36th Lagos International Trade Fair 2022. BUK to host Media Trust’s […]

The Nigeria Deposit Insurance Corporation (NDIC) has commenced verification of depositors of the 22 closed banks for payment of their liquidation dividends.

This was stated by the Managing Director/Chief Executive of NDIC, Bello Hassan, at the special day of the corporation during the ongoing 36th Lagos International Trade Fair 2022.

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According to him, through the dogged liquidation efforts of NDIC, the Corporation has realized enough funds to fully pay all depositors of the twenty listed banks, comprising: ABC Merchant Bank Ltd, Allied Banks of Nigeria, Alpha Merchant Bank Plc, Amicable Bank of Nigeria Ltd, Commerce Bank, among others.

He said, “The corporation has recorded significant achievements in the area of bank liquidation. Recently, through announcements on various platforms, the corporation repeated its call to depositors of twenty closed banks in which it has declared full liquidation dividends, to come forward for verification and payments of their deposits that are in excess of the guaranteed sums.”

Hassan stated further that from its establishment till date, NDIC had been effective in the discharge of its mandate to protect depositors.

“While depositors of DMBs, PMBs, NIBs, PSBs and subscribers of MMOs are currently insured up to maximum limit of N500,000 per depositor per bank, those of MFBs are guaranteed up to a maximum limit of N200,000 per depositor per bank.

He also stated that notices had been sent out to creditors of seven DMBs in liquidation, as well as depositors and ex-staff of Eurobank Savings and loans, Okporo MFB and Eurofield MFB.

“Our staff commenced verification of depositors of post-service savings and loans at the premises of the defunct bank nationwide in preparation towards settlement of their claims,” he said.