Come and claim your money, physically or online through NDIC website
By Jeph Ajobaju, Chief Copy Editor
Shareholders, creditors, and depositors of failed banks have been urged by the Nigeria Deposit Insurance Corporation (NDIC) to come forward for verification and payment of their claims.
NDIC Managing Director Bello Hassan said the corporation has realised enough funds to fully pay all depositors of the 20 failed banks.
Hassan, represented by NDIC Corporate Communications and Public Affairs Director Bashir Nuhu, disclosed in Lagos similar notices have been sent to creditors of seven banks in-liquidation.
Also notified are depositors and former staff of two microfinance banks (MFBs) and one employ of a private mortgage bank (PMB).
He listed the 20 failed banks as:
- ABC Merchant Bank
- Allied Bank of Nigeria
- Alpha Merchant Bank
- Amicable Bank of Nigeria
- Commerce Bank
- Commercial Trust Bank
- Continental Merchant Bank
- Cooperative & Commerce Bank
- Eagle Bank
- Financial Merchant Bank
- Icon Limited (Merchant Bank)
- Ivory Merchant Bank
- Kapital Merchant Bank
- Mercantile Bank of Nigeria
- Merchant Bank of Africa
- Nigeria Merchant Bank
- Pan African Bank
- Premier Commercial Bank
- Progress Bank of Nigeria
- Rims Merchant Bank
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How NDIC protects bank depositors’ funds
Per reporting by The Guardian, Hassan said the NDIC protects depositors in four ways:
- Guaranteeing payment in the event of bank failure
- Supervising banks in conjunction with the Central Bank of Nigeria (CBN)
- Resolving distress to reduce instances of failure
- Orderly and efficient liquidation of failed banks to prevent payment system disruption
“I would like to once again call on depositors, creditors and shareholders of the listed closed banks to avail themselves of the verification platforms provided by the corporation to claim their fund,” he said.
“They are at liberty to visit any of the corporation‘s nearest offices physically or utilise the NDIC online App or visit the claim page on our website.
“I will like to assure all depositors and the public that the NDIC will leave no stone unturned in its commitment to the effective discharge of its mandate.”