We paid over N113bn for deposits in closed banks – NDIC | Dailytrust

We paid over N113bn for deposits in closed banks – NDIC

Celebrating NDIC at Thirty
Celebrating NDIC at Thirty

The Nigeria Deposit Insurance Corporation (NDIC) says it has paid a total of N113.4 billion as insured and uninsured sums to depositors of closed banks since its inception.

The corporation said while a cumulative amount of N11.76bn as insured sums was paid to 535,815 depositors of the closed banks, a total of N101.66bn had been paid as an uninsured sum as of June 30, 2021.

The managing director of the corporation, Bello Hassan, who revealed these figures on Wednesday at the 2021 Kano International Trade Fair, added that they have also been able to pay N6.159bn as liquidation dividends to 1,955 creditors and shareholders of the closed banks.

“Instructively, the corporation has declared full payment of insured and uninsured sums to depositors of 18 banks in liquidation.

“This implies that the corporation has realised a liquidation dividend to pay all depositors of the banks who presented themselves for payment,” he said.

Hassan, represented by NDIC Zonal Coordinator, Shehu Usman, also advised bank users not to patronise the services of “Ponzi schemes and illegal fund managers, otherwise called ‘wonder banks’ who parade themselves as deposit-taking institutions to dupe unsuspecting members of public of their hard-earned money.

He said this is critical, especially against the backdrop of the COVID-19 pandemic that brought about disruptions and challenges to business activities that have created an unpredictable financial environment.

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. Sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Zenith Bank
Media Trust Ltd

Please send details of your bank transfer to the email or Whatsapp number below so that we can contact you.

If you have any questions, please let us know.

Email: membership@dailytrust.com
Whatsapp: +234 806 990 3410