The Nigeria Deposit Insurance Corporation (NDIC) has announced
declaration of N16.18 billion liquidation dividends to depositors, creditors and shareholders of 20 banks in liquidation.
The Corporation says it has now commenced verification and payment of stakeholders covered by the declarations within 30 days, starting from 28 September 2023.
A statement by the NDIC’s Director of Communication and Public Affairs, Bashir Nuhu, said the move followed the recoveries from debtors and the realisation of assets of banks in liquidation
Nuhu said 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 to download, complete and submit the verification form with prescribed supporting documents to the dedicated email for the purpose: [email protected].
”The closed 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, Merchant Bank of Africa (MBA), 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.
”Liquidation dividend represents an amount in excess of 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”.