The Nigeria Deposit Insurance Corporation (NDIC), has announced plans to commence payment of liquidation dividends to uninsured depositors, creditors, and shareholders of additional 14 banks in-liquidation.
This is according to a disclosure signed by NDIC’s Director of Communication and Public Affairs Department, Bashir Nuhu, as seen by Naijabusiness.com.ng.
According to the notice, the payment of dividends to stakeholders in the fourteen (14) liquidated banks will be done in two tranches. The first tranche will see NDIC pay the liquidation dividends due to stakeholders in eight out of the fourteen banks. Similarly, stakeholders in the remaining six banks will be subsequently paid in the second round.
In light of this, eligible stakeholders of the banks are urged to either visit the physical offices of the corporation nationwide, for the verification of their claims or visit their website for the same purpose.
The affected 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 Hiltop, MFB, Olomoyoyo MFB, Evo MFB, Ngwegwe MFB, Bekwara MFB, Argungu MFB and Edet MFB.
On the other hand, the Corporation has commenced verification of depositors of 22 Microfinance Banks (MFB) whose operating licenses were recently revoked by the Central Bank of Nigeria (CBN). The verification exercise is geared towards payment of insured sums to eligible depositors.
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Similarly, depositors in the affected MFBs have been urged to either visit the Corporation’s website or any of its physical branches, in a bid to verify their claims. Naijabusiness.com.ng understands that the NDIC was established on 15th of June, 1988 following the recommendation of former CBN Governor, Ola Vincent. The Corporation is charged with the primary duty of insuring depositors’ funds and indemnifying them during a period of liquidation or collapse.
