THE Nigeria Deposit Insurance Corporation (NDIC) has declared N16.18 billion in liquidation dividends to depositors, creditors, and shareholders of 20 banks in liquidation.
The bank said this follows impressive recoveries from debtors and the realisation of assets of banks in liquidation.
Director of Communication and Public Affairs of NDIC, Bashir Nuhu, stated this in a statement yesterday, adding that the Corporation has commenced verification and payment of stakeholders covered by the declarations within 30 days, starting from 28th September 2023.
“It is instructive to note that the ongoing payment is sequel to earlier payment of various sums which cumulatively amounted to N45.45bn as liquidation dividends in respect of the 20 banks as of July 2023.
“Relevant stakeholders have been requested to visit any of the NDIC’s offices closer to them or go to the claims page on the Corporation’s website, www.ndic.gov.ng to download, complete and submit the verification form with prescribed supporting documents to the dedicated email for the purpose.”
The banks covered by the exercise are Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, Progress Bank, and Merchant Bank of Africa (MBA).
Others are Premier Commercial Bank, North-South Bank, Prime Merchant Bank, Commercial Trust Bank, Cooperative and Commerce Bank, Rims Merchant Bank, Pan African Bank, Fortune Bank, All States Trust Bank, Nigeria Merchant Bank, and Amicable Bank in-liquidation.
NUHU added that the liquidation dividend represents an amount over the insured sums paid by the NDIC to depositors of a closed bank from recoveries made from the realisation of assets of failed financial institutions.
It also covers the amount paid to creditors and shareholders of closed banks after full payment to depositors of such defunct banks, he said.
