The Nigeria Deposit Insurance Corporation (NDIC) has announced its readiness to begin payment of liquidation dividends to uninsured depositors, creditors and shareholders of additional 14 banks in liquidation.
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It said that the concerned stakeholders in 8 of those closed banks are to receive their first round of liquidation dividend payments, while the other 6 are to be paid additional sums as part of their liquidation dividends.
This disclosure is contained in a statement issued by NDIC’s Director of Communications and Public Affairs, Mr Bashir Nuhu, on Monday, June 28, 2021, in Abuja, according to the News Agency of Nigeria (NAN),
The NDIC in its statement, listed the banks to include, City Express, All States Trust, Allied Bank, Commerce Bank, North-South Bank, Cooperative and Commerce Bank and Nigeria Merchant Bank.
Others are Hilltop Micro-Finance Bank (MFB), Olomoyoyo MFB, Evo MFB, Ngwegwe MFB, Bekwarra MFB, Argungu MFB and Edet MFB.
The corporation advised eligible stakeholders of the banks to either visit any of its offices across the country to verify their claims or do so on its website.
It also revealed that it has commenced verification for depositors of 22 Micro-Finance Banks (MFBs) whose operating licences were recently revoked by the Central Bank of Nigeria (CBN), adding that the exercise is geared towards the payment of insured sums to eligible depositors.
The corporation explained that depositors of the affected MFBs had been advised to visit the closed banks’ addresses where their claims would be verified by its officials and should also visit its website for the list of the banks.
What you should know about the NDIC
- The NDIC is an independent agency of the Federal Government that was established on June 15, 1988, to strengthen the safety net for the newly liberalized banking sector, following the recommendation of former Central Bank of Nigeria Governor Ola Vincent. The NDIC provides a safety net for depositors in the newly liberalized banking sector
- The NDIC advises the CBN in the liquidation of distressed banks, manages distressed banks’ assets until they are fully liquidated and has a supervisory role over-insured banks.
- The corporation had disclosed that it had liquidated about 425 banks as of February 2020, due largely to bad loans in the past 22 years.
Why still using the picture of Umoru Ibrahim as the face of NDIC? A new MD/CEO in person of Bello Hassan came into office since March, 2021
What about Savannah Bank PLCpls?
What about Savannah Bank plc when will the depositors expect to be paid
When will you be courageous enough to liquidated the savanna bank Nigeria PLC that has remained close despite returning it operational license for than eighteen years.
What about Oceanic Bank
I wants to know if Depositors of Savannah Bank will benefit from this process?
What about Savannah Bank Plc?
Are the depositors of Savannah Bank to benefit from this package, if not, when are you going to liquidate the Bank and settle the depositors?
People are asking about Savannakh Bank . However, there are no replies from the officials. Any insight from Chike Olisah @ Nairametrics? Please provide with any update with Savannah Bank. We need our monies.
thanks
elliot