As debts rise and the economy deteriorates, the Nigeria Deposit Insurance Corporation (NDIC) announced yesterday that it would begin paying liquidation dividends to uninsured depositors, creditors, and shareholders of 14 liquidated banks.
City Express Bank, All States Trust Bank, Allied Bank, Commerce Bank, North-South Bank, Cooperative and Commerce Bank, and Nigeria Merchant Bank are among the banks affected.
Hilltop Microfinance Bank (MFB), Olomoyoyo Microfinance Bank (MFB), Evo Microfinance Bank (MFB), Ngwegwe Microfinance Bank (MFB), Bekwarra Microfinance Bank (MFB), Argungu Microfinance Bank (MFB), and Edet Microfinance Bank (MFB) are among the others.
In a statement, the Corporation’s Director of Communication and Public Affairs Department, Bashir Nuhu, said as much.
Stakeholders in eight of the closed banks will receive their first round of liquidation dividend payments, while those in the remaining six will receive additional sums due as part of their liquidation dividends.
He advised eligible bank stakeholders to visit the Corporation’s offices across the country to verify their claims, or to do so online.
In addition, Nuhu stated that the Corporation has begun verifying depositors of 22 MFBs whose licenses were recently revoked by the Central Bank of Nigeria (CBN). The verification exercise is aimed at ascertaining the insured sums to eligible depositors.
Depositors of the affected MFBs are to visit the closed banks’ addresses where their claims would be verified by the NDIC’s officials. They could do the same via the Corporation’s portal.