Northern Nigerian Breaking News

NDIC commences payment of N16bn to 20 defunct banks’ depositors, stakeholders

The Nigeria Deposit Insurance Corporation (NDIC), has declared an additional over N16 billion as a liquidation dividend to be paid to depositors, creditors, and shareholders of 20 banks in liquidation.

A statement issued by Mr Bashir Nuhu, the Director, Communication and Public Affairs of NDIC in Abuja on Monday, said the declaration followed impressive recoveries from debtors and the realization of assets of the banks in liquidation.

He said the Corporation had commenced verification and payment of stakeholders covered by the declarations within 30 days, which started from Sept. 28.

Nuhu listed the closed banks covered by the exercise to include Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, and Progress Bank.

Read Also:How family of 4 died of electrocution in Taraba

Others are Merchant Bank of Africa (MBA), Premier Commercial Bank, North-South Bank, and Prime Merchant Bank.

He said that Commercial Trust Bank, Cooperative and Commerce Bank, Rims Merchant Bank, Pan African Bank, Fortune Bank, All States Trust Bank, Nigeria Merchant Bank, and Amicable Bank would also benefit.

Read Also:EFCC secures arrest warrant for Diezani as it initiates process to extradite her

”It is instructive to note that the ongoing payment is sequel to earlier payment of various sums which cumulatively amounted to N45.45 billion as liquidation dividends in respect of the 20 banks as at July.

”Relevant stakeholders have been requested to visit any of the NDIC’s offices closer to them or go to the claims page on the Corporation’s website,” he said.

Read Also:Allocation of office to wife of Senate President is not true-Official

Nuhu said that a liquidation dividend represents an amount in excess of the insured sums paid by the NDIC to depositors of a closed bank. (NAN)

Comments are closed.