Depositors, creditors, and shareholders of liquidated banks received N16 billion in dividend payments in the past 20 years, the Nigerian Deposit Insurance Corporation (NDIC) has said.
The Principal Manager, NDIC Kano Zonal Office, Hajara Imam, who disclosed this at the 2023 World Savings Day, explaining that most of the depositors and shareholders have been fully settled.
Imam said payments to customers of some of the Microfinance banks with insured deposits recently closed were ongoing.
“Recently, NDIC has earmarked about N16 billion to pay most of the depositors and even shareholders liquidation dividends for all the banks that failed about 20 years back. We are paying most of them now.
“The Microfinance banks that were closed recently some of them that are insured have been paid. You know, it is a process that is ongoing,” she said.
On unclaimed deposits, Imam said dealing with the banks that were closed down 20 years ago was a difficult task due to a lack of proper information.
“It is unlike the current system where all information about depositors could be reached through the Bank Verification Numbers (BVN).
“However, the basic information is used and advertised to the public to come up and claim their payments,” she said, adding that the exercise has achieved about 90 percent success.
The event with the theme: “Conquer the World Through Savings” held at the Government Girls College Dala, Kano, was designed to instill financial discipline and planning in the younger ones.