NDIC Sets to Pay N16bn to Stakeholders of 20 'Dead' Banks

NDIC Sets to Pay N16bn to Stakeholders of 20 ‘Dead’ Banks

The Nigeria Deposit Insurance Corporation (NDIC), has declared an additional 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 of Communication and Public Affairs of NDIC in Abuja on Monday, said the declaration followed impressive recoveries from debtors and realisation 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 on Sept. 28.

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

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.

”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 of 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.

Nuhu said that the liquidation dividend represents an amount in excess of the insured sums paid by the NDIC to depositors of a closed bank. #NDIC Sets to Pay N16bn to Stakeholders of 20 ‘Dead’ Banks Naira Devaluation Deepens Economic Crisis in Nigeria