Harboursandport.com: Lagos - The Nigeria Deposit Insurance Corporation (NDIC) has clarified reports making the rounds that the Central Bank of Nigeria (CBN) liquidated 20 banks recently.
In a
statement signed by its Director, Communication & Public Affairs, Bashir A.
Nuhu, the NDIC stated: “The Nigeria Deposit Insurance Corporation (NDIC) wishes
to address the recent misleading news reports circulating on various social
media platforms under the headline "CBN Liquidates 20 Banks – NDIC
(Names)." Contrary to the misleading headline, the Corporation would like
to clarify that the 20 banks mentioned in those reports were among the banks
that had been previously closed between 1994 and 2006 due to the revocation of
their operating licenses by the Central Bank of Nigeria (CBN).
“The general
public should be aware that the NDIC has fulfilled its commitment by paying the
statutory guaranteed sums to the concerned depositors. Furthermore, the
Corporation has made cumulative payments of liquidation dividends totalling
N45.45 billion as of July 2023, representing amounts exceeding the guaranteed
sums to depositors of the 20 banks.
“Indeed, it
is in light of recent additional recoveries from debtors of the liquidated
banks, that the Corporation announced an additional N16.18 billion of
liquidation dividends to be paid to depositors, creditors, and shareholders as
the case may be of the 20 banks in liquidation.
“We
therefore, urge relevant stakeholders to visit any NDIC office or access the
claims page on the Corporation’s website, www.ndic.gov.ng, to download, complete,
and submit the verification form along with the prescribed supporting
documents. Submissions should be sent to the dedicated email: claimscomplaints@ndic.gov.ng.
“The closed
banks covered by this exercise include Liberty Bank, City Express Bank,
Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon
Merchant Bank, Progress Bank, Merchant Bank of Africa, Premier Commercial Bank,
North South Bank, and Prime Merchant Bank. Others are 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.
“It is
important to note that liquidation dividend represents the amount in excess of
the insured sums paid by the NDIC to depositors of a closed bank. This amount
is derived from recoveries made through realization of assets of failed
financial institutions and covers payments to creditors and shareholders after
the full payment to depositors of the defunct bank.”
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