Nigeria’s Deposit Insurance Corporation set to pay liquidation dividends 

The Nigeria Deposit Insurance Corporation, NDIC, has called on depositors of 20 closed banks in which it has declared full liquidation dividends to come forward for verification and payment of their deposits that are in excess of the guaranteed sums, known as liquidation dividends.

The Director, Communication and Public Affairs Department of the Corporation, Bashir Nuhu who represented the Chief Executive Officer at the ongoing 36th Edition of the Lagos International Trade Fair, said significant achievements have been recorded in the area of bank liquidation.

Nuhu said the Corporation has realised enough funds to fully pay all depositors of the listed banks.

The affected banks are ABC Merchant Bank Limited; Allied Bank of Nigeria; Alpha Merchant Bank Plc.; Amicable Bank of Nig. Limited; Commerce Bank; Commercial Trust Bank Limited; Continental Merchant Bank Plc.; Cooperative & Commerce Bank Plc.; Eagle Bank; Financial Merchant Bank Limited; Icon Limited (Merchant Bank); Ivory Merchant Bank; Kapital Merchant Bank Limited; Mercantile Bank of Nig. Plc.; Merchant Bank of Africa Limited; Nigeria Merchant Bank Plc.; Pan African Bank Limited; Premier Commercial Bank Limited; Progress Bank of Nigeria; and Rims Merchant Bank Limited.

He said similar Notices were also sent to Creditors of seven DMBs in-liquidation as well as depositors and ex-staff of Eurobank Savings & Loans, Okporo MFB and Eurofield MFB.

“Our staff commenced verification of depositors of Post Service Savings & Loans (in-liquidation) at the premises of the defunct bank nationwide in preparation towards settlement of their claims,” Nuhu said.

The Corporation is also creating awareness through radio announcements, newspapers adverts, handbills and posters, as well as urging affected entities and individuals to check details on its website www.ndic.gov.ng and social media handles.