NDIC Invites Shareholders, Depositors of 20 Failed Banks for Claims

The Nigeria Deposit Insurance Corporation (NDIC) has urged shareholders, creditors, and depositors of the 20 failed banks to come for verifications and payment of their liquidation dividend.

NDIC, in its determination to secure depositors’ funds, had declared 100 percent liquidation dividends in 20 failed banks and invited depositors of those banks to come forward with their claims.

Managing Director of NDIC, Bello Hassan, while addressing the media at the ongoing Lagos International Trade Fair, yesterday, stated that the corporation has realized enough funds to fully pay all depositors of the banks.

Represented by the Director of Corporate Communications and Public Affairs, Dr. Bashir Nuhu, he stated that similar notices were also sent to creditors of seven DMBs in liquidation as well as depositors and ex-staff of two MFBs and a PMB.

He listed the affected banks including ABC Merchant Bank Limited; Allied Bank of Nigeria; Alpha Merchant Bank Plc.; Amicable Bank of Nig. Limited; Commerce Bank; commercial Trust Bank Limited; Continental Merchant Bank Plc.; Cooperative & Commerce Bank Plc.; and Eagle Bank;

Others are, Financial Merchant Bank Limited; Icon Limited (Merchant Bank); Ivory Merchant Bank; Kapital Merchant Bank Limited; Mercantile Bank of Nig. Plc.; Merchant Bank of Africa Limited; Nigeria Merchant Bank Plc.; Pan African Bank Limited; Premier Commercial Bank Limited; Progress Bank of Nigeria; and Rims Merchant Bank Limited.

According to him, the corporation protects depositors through the discharge of its mandate in four critical ways namely: by guaranteeing payment in the event of bank failure, through supervising the banks in conjunction with the Central Bank of Nigeria (CBN) to ensure that they are run in an efficient manner in line with extant laws and regulations, resolving distress to reduce instances of failure; and through orderly and efficient liquidation of failed banks to prevent disruptions to the payment system.

He assured stakeholders that NDIC will leave no stone unturned in its commitment to the effective discharge of 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 funds.

“They are at liberty to visit any of the corporation‘s nearest offices physically or utilize 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 congratulated the Lagos Chambers of Commerce and Industry (LCCI) on its efforts at supporting the government to promote trade and investment across all sectors of the economy.