NDIC commences payment to depositors of 14 closed bank

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NDIC commences payment to depositors of 14 closed bank

By Favour Nnabugwu

 

 

The Nigeria Deposit Insurance Corporation (NDIC) will commence payment of liquidation dividends to uninsured depositors, creditors and shareholders of 14 closed banks.

The Director, Communication and Public Affairs Department, Bashir Nuhu, the NDIC stated that while stakeholders of eight closed banks are to receive their first round of liquidation dividend payments, those of the other six are to be paid additional sums due to them as part of their liquidation dividends.

The listed banks are: City Express Bank, All States Trust Bank, Allied Bank, Commerce Bank, North South Bank, Cooperative and Commerce Bank and Nigeria Merchant Bank.

Others are Hilltop MFB, Olomoyoyo MFB, Evo MFB, Ngwegwe MFB, Bekwarra MFB, Argungu MFB and Edet MFB
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The corporation advised eligible stakeholders of the banks to visit the Corporation’s offices nationwide for the verification of their claims or do so on the Corporation’s website.

The NDIC has also commenced verification of depositors of 22 MFBs whose operating licences were recently revoked by the Central Bank of Nigeria (CBN).

The verification exercise is geared towards payment of insured sums to eligible depositors.

Depositors of the affected MFBs have been advised to visit the closed banks’ addresses where their claims would be verified by the NDIC’s officials.

 

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