The 20 failing banks’ shareholders, creditors, and depositors have been urged by the Nigeria Deposit Insurance Corporation (NDIC) to appear for identification checks and the payment of their liquidation dividend.
The NDIC had issued 100% liquidation dividends in 20 insolvent banks and asked the banks’ depositors to submit claims as part of its commitment to protecting depositors’ money.
Bello Hassan, the managing director of NDIC, told the media yesterday at the ongoing Lagos International Trade Fair that the organization has earned enough money to fully refund all bank depositors.
Dr. Bashir Nuhu, who was speaking on behalf of the company, claimed that similar warnings had also been delivered to the creditors of seven DMBs that were in liquidation as well as to the depositors and former employees of two MFBs and a PMB.
The following banks were among those he mentioned as being impacted: ABC Merchant Bank Limited, Allied Bank of Nigeria, Alpha Merchant Bank Plc., and Amicable Bank of Nig. Limited, Eagle Bank, Cooperative & Commerce Bank Plc., Continental Merchant Bank Plc., Commerce Bank, commercial Trust Bank Limited, and
There are also Rims Merchant Bank Limited, Mercantile Bank of Nigeria Plc., Pan African Bank Limited, Financial Merchant Bank Limited, Icon Limited (Merchant Bank), Ivory Merchant Bank, Kapital Merchant Bank Limited, Merchant Bank of Africa Limited, Nigeria Merchant Bank Plc., Premier Commercial Bank Limited, Progress Bank of Nigeria, and Merchant Bank of Africa Limited.
He claims that the corporation protects depositors by carrying out its duties in four crucial ways, namely by guaranteeing payment in the event of bank failure, by supervising the banks in collaboration with the Central Bank of Nigeria (CBN) to ensure that they are run in a way that complies with current laws and regulations, by resolving distress to reduce instances of failure, and by conducting an orderly and efficient liquidation of failed banks to prevent further failure.
He gave stakeholders the reassurance that NDIC will do everything in its power to effectively carry out its mandate.
“Therefore I would like to once again call on depositors, creditors and shareholders of the listed closed bank to avail themselves of the verification platforms provided by the corporation to claim their fund.”
“They are at liberty to visit any of the corporation ‘s nearest offices physically or utilise the NDIC online App or visit the claim page on our website. I will like to assure all depositors and the public that the NDIC will leave no stone unturned in its commitment to the effective discharge of its mandate.”
Hassan commended the efforts made by the Lagos Chambers of Commerce and Industry (LCCI) to assist the government in promoting trade and investment throughout the whole economy.
