NDIC declares 100% liquidation dividends in 20 banks



By Ismail Auwal

The Nigeria Deposit Insurance Corporation (NDIC) has declared 100 percent liquidation dividends in 20 failed banks and has invited depositors to file claims.

The Director of Corporate Communications and Public Affairs of the NDIC, Dr. Bashir Nuhu, while disclosing this, yesterday, at the on-going Abuja- International Trade Fair said “the implication of this is that, through our dogged liquidation activities, the Corporation has realised enough funds to fully pay all depositors of the banks.”

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 Plc.; Cooperative & Commerce Bank Plc.; and Eagle Bank;

The rest were: 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, similar notices were also sent to creditors of seven Deposit Money Banks( DMBs)in-liquidation as well as depositors and ex-staff of two Micro Finance Banks ( MFBs) and a Primary Mortgage Banks (PMBs).

The Director added that NDIC’s determination to secure depositors’ funds, it would ensure the digitisation of all Microfinance Banks operating in the country.

He said, “Recently, through newspaper adverts, radio and television announcements and notices on our website and social media handles, the Corporation repeated its call to depositors of twenty closed banks in which it has 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.”

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