Over 42,000 depositors get N1.7bn
Over 42,000 depositors in failed banks have been paid the sum of N1.7 billion, according to the Nigeria Deposit Insurance Corporation (NDIC),
Bello Hassan, the Managing Director and Chief Executive Officer of NDIC, made the disclosure Friday, at NDIC Editors’ Forum even as he called on depositors of the 183 closed microfinance and primary mortgage banks, who have no Bank Verification Numbers (BVNs) to come forward and claim their insured deposit.
Speaking on the theme: ‘Stocktaking of Deposit Insurance Practice: Assessing the Past, Evaluating the Present and Forecasting the Future,’ Hassan said: “Earlier this year in May, the Central Bank of Nigeria (CBN) revoked the licenses of 183 institutions comprising microfinance banks and primary mortgage banks and we quickly advertised that the depositors of those institutions should come forward to get them verified so that we can pay them the insured amount.
“In terms of the insured amount paid today, we have paid more than N1.7 billion to more than 42,000 customers and we are calling on customers who had no BVN attached to their accounts in those microfinance banks to come forward and reach out to us at our offices across the six geopolitical zones so that they can get themselves verified so we can pay the insured amount,” he explained.
The NDIC boss added that the corporation has boosted depositor payouts, strengthened legal partnerships, and resolved longstanding bank closure cases through the recently introduced Single Customer View (SCV), judicial cooperation, and out-of-court settlements.
“We have reinvigorated our recovery efforts, which led to substantial recovery of debt owed to banks in liquidation and that is why we can declare liquidation dividends for those banks. If you recall sometime earlier in the year, we advertised that we wanted to pay liquidation dividends to depositors, creditors and some institutions that are in liquidation even shareholders and people have successfully recovered a lot,” he said.
Credit: ThisDay Newspaper
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