Finance

NDIC begins payment of liquidation dividends to depositors, shareholders of 14 dead banks

Cheery news has come the way of uninsured creditors, depositors and shareholders of 14 closed banks with the Nigeria Deposit Insurance Corporation (NDIC) announcing that said it is ready to pay them their liquidation dividends.

In a release on Sunday by the Director, Communication and Public Affairs Department, Bashir Nuhu, the NDIC stated that while stakeholders of eight closed banks are to receive their first round of liquidation dividend payments, those of the other six are to be paid additional sums due to them as part of their liquidation dividends.

The release listed the banks as City Express Bank, All States Trust Bank, Allied Bank, Commerce Bank, North South Bank, Cooperative and Commerce Bank and Nigeria Merchant Bank. Others are Hilltop MFB, Olomoyoyo MFB, Evo MFB, Ngwegwe MFB, Bekwarra MFB, Argungu MFB and Edet MFB.

The release advised eligible stakeholders of the banks to visit the Corporation’s offices nationwide for the verification of their claims or do so on the Corporation’s website.

In a related development, the Corporation has commenced verification of depositors of 22 MFBs whose operating licences were recently revoked by the Central Bank of Nigeria (CBN). The verification exercise is geared towards the payment of insured sums to eligible depositors.

Depositors of the affected MFBs have been advised to visit the closed banks’ addresses where their claims would be verified by the NDIC’s officials. They are also to visit the Corporation’s website for the list of the banks and to verify their claims.

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