NDIC Begins Verification of 42 failed Microfinance Banks Depositors

NDIC Begins Verification of 42 failed Microfinance Banks Depositors

The Nigeria Deposit Insurance Corporation (NDIC) says it has commenced the verification of depositors of the 42 Microfinance Banks (MFB) whose operating licenses were recently revoked by the Central Bank of Nigeria (CBN).

A statement by Mr Bashir Nuhu, the NDIC Director of Communication and Public Affairs, on Monday, called on the depositors to visit their banks’ address locations for verification from Dec. 21.

Nuhu said that officials of the corporation would be on ground at the various banks to verify the claims of the depositors from Dec. 21 to Dec. 24.

Nuhu in the statement requested the depositors to visit their banks with the proof of account ownership including passbook, cheque booklet and valid means of identification to facilitate the verification.

The director listed some of the failed MFBs to include Hedgeworth MFB, Future Growth MFB, Bagwai MFB, Bagwai MFB, Ere City MFB, Cafon MFB, Akcofed MFB, Gufax MFB, Partnership MFB, ICB MFB, Onima MFB and Hometrust (Nations) MFB, among others.

”The CBN revoked the operating licenses of the failed MFBs with effect from Nov. 12.

”Consequently, the corporation as the official liquidator of the banks commenced the process of closure and payment of insured sums to verified depositors of the banks,” he said.

At the weekend, depositors, creditors, shareholders and the general public were informed that the operating licenses of the under listed Forty-Two (42) Microfinance Banks (MFBs) have been revoked by the Central Bank of Nigeria (CBN) effective 12th November, 2020.

NDIC, the official Liquidator of the banks whose licenses were recently revoked, is in the process of closing the listed banks and pay their insured Depositors.

“We therefore request that all depositors of these banks should visit the closed banks’ addresses and meet NDIC officials for the verification of their claims, commencing from Monday, 21st December, 2020 till Thursday, 24th December, 2020”, NDIC stated.

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NDIC Begins Verification of 42 failed Microfinance Banks Depositors