The Nigeria Deposit Insurance Corporation (NDIC) has announced that it will be disbursing over N16 billion as liquidation dividends to depositors, creditors, and shareholders of 20 banks that are under liquidation. This declaration comes as a result of successful recoveries from debtors and the realization of assets belonging to the liquidated banks.
Bashir Nuhu, the Director of Communication and Public Affairs at NDIC, released a statement in Abuja on Monday to communicate this update. Nuhu stated that the payment process has commenced, and the verification and payment of eligible stakeholders will be completed within 30 days, starting from September 28th.
The banks covered by this liquidation dividend include Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, and Progress Bank. Additionally, Merchant Bank of Africa (MBA), Premier Commercial Bank, North South Bank, and Prime Merchant Bank are also part of the list. Other beneficiaries 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.
Mr. Nuhu emphasized that this ongoing payment is in addition to previous disbursements totaling N45.45 billion as liquidation dividends made in July for the same 20 banks. He encouraged relevant stakeholders to visit their nearest NDIC offices or access the claims page on the Corporation’s website for more information and to commence the claims process.
It is important to note that liquidation dividends represent the amount exceeding the insured sums that the NDIC has paid to depositors of the closed banks.
NAN
