The Nigeria Deposit Insurance Corporation (NDIC) has repeated its call to depositors of twenty closed banks in which it declared full (i.e. 100%) liquidation dividends to come forward for verification and payment of their deposits that are in excess of the guaranteed sums, otherwise called “liquidation dividends.”
Managing Director of NDIC, Hassan Bello, made the call on Tuesday at NDIC special day holding at the 36th Lagos International Trade Fair.
According to him, the corporation has recorded significant achievements in the area of bank liquidation.
Recently, through newspaper adverts, radio and television announcements and notices on its website and social media handles, the corporation made the same call to depositors.
The affected banks are 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 Pic. Cooperative & Commerce Bank Plc.; Eagle Bank; Financial Merchant Bank Limited; Icon Limited (Merchant Bank); lvory Merchant Bank; Kapital Merchant Bank Limited; Mercantile Bank of Nig. Pic.; 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.
Represented by the Director Communication and Public Affairs of NDIC, Mr. Bashir Nuhu, Bello stated that the implication of this is that, through its dogged liquidation efforts, the corporation has realised enough funds to fully pay all depositors of the listed banks.
Similar Notices were also sent to creditors of seven Deposit Money Banks (DMBs) in-liquidation as well as depositors and ex-staff of Eurobank Savings & Loans, Okporo MFB and Eurofield MFB.
“Only yesterday, our staff commenced verification of depositors of Post Service Savings & Loans (in-liquidation) at the premises of the defunct bank nationwide in preparation towards settlement of their claims.
ALSO READ FROM NIGERIAN TRIBUNE
“Besides radio announcements, newspaper adverts, handbills and posters, details of all these are also available on our website and social media handles for members of the public to access.
“Therefore I would like to once again call on depositors, creditors and shareholders of the listed closed banks to avail themselves of the verification platforms provided by the Corporation to claim their funds,” Bello emphasised.
He added that they are at liberty to visit any of the Corporation’s nearest offices physically or utilise the NDIC online App or visit the Claims Page on its website: www.ndic.gov.ng, to expedite processing of their claims.
He stated that the essence of the corporation’s participation in the Lagos International Trade Fair over the years, is to continuously sensitize the banking community and general public about the existence of the Deposit Insurance Scheme (DIS) and the measure of safety it offers to the financial system.
This is important since public confidence in the financial system can only be enhanced when they are aware that their deposits are protected and that in the unlikely event of bank failure, there is an agency of government that would always safeguard their hard earned savings.
The Corporation ge assured, protects depositors through the discharge of its mandate in four critical ways: by insuring depositors’ funds and guaranteeing payment in the event of bank failure; by supervising the banks in conjunction with the Central Bank of Nigeria (CBN) to ensure that they comply with extant laws and regulations; by resolving distress to reduce incidents of failure; and by ensuring orderly liquidation of failed banks to prevent disruptions to the payment system.
He recalled that from its establishment till date, the Corporation has been effective and efficient in the discharge of this mandate thereby, living up to its public policy objectives of contributing to financial system stability.
” In the aspect of Deposit Guarantee, the NDIC has been highly responsive in providing coverage to all types of accounts and products as they evolve in our banking system.
“From depositors of Deposit Money Banks at inception, the Corporation has extended deposit insurance coverage to depositors of Primary Mortgage Banks (PMBS), Microfinance Banks (MFBs), Non-interest Banks (NIBs), subscribers of Mobile Money Operators (MMOs) and the recently introduced Payment Service Banks (PSBs),” Bello said.
and then