Business - Business & Economy - News - June 28, 2021

NDIC set to begin payment of liquidation dividends to depositors, others in 14 closed banks

MEDIATRACNET
The payment of liquidation dividends to uninsured depositors, creditors and shareholders of additional 14 banks in-liquidation is to commence, the Nigeria Deposit Insurance Corporation (NDIC) announced on Sunday.
The spokesperson of the Corporation, Bashir Nuhu, said stakeholders of eight closed banks would receive their first round of liquidation dividend payments, while those of the other six banks are to be paid additional sums due to them as part of their liquidation dividends.
Nuhu listed the affected 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 Micro-finance Bank, Olomoyoyo MFB, Evo MFB, Ngwegwe MFB, Bekwarra MFB, Argungu MFB and Edet MFB.
The Corporation advised eligible stakeholders of the affected banks to visit the Corporation’s offices nationwide for the verification of their claims, or do so on the Corporation’s website.
Meanwhile, the Corporation said it has commenced verification of depositors of 22 MFBs whose operating licenses were recently revoked by the Central Bank of Nigeria (CBN).
The NDIC said the verification exercise is geared towards the payment of insured sums to eligible depositors. Consequently, depositors of the affected MFBs have been advised to visit the closed banks’ addresses where their claims would be verified by NDIC 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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