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NDIC to pay dividends to depositors of 14 closed banks

By Moses Emorinken, Abuja

The Nigeria Deposit Insurance Corporation (NDIC) has said it will soon begin payment of dividends to uninsured depositors, creditors and shareholders of additional 14 banks in-liquidation.

In a statement by its Director of Communication and Public Affairs Department, Bashir Nuhu, the NDIC said while stakeholders of eight closed banks will get their first round of liquidation dividends, those of the other six will be paid additional sums due to them as part of their liquidation dividends.

The statement listed the affected banks as: City Express Bank, All States TrustBank, Allied Bank, Commerce Bank, North South Bank, Cooperative and Commerce Bank and Nigeria Merchant Bank.

Others are: Hilltop MFB, Olomoyoyo MFB, Evo MFB, Ngwegwe MFB, Bekwarra MFB, Argungu MFB and Edet MFB.

The NDIC advised eligible stakeholders of the banks to visit its offices nationwide for the verification of their claims or do so on the corporation’s website.

Also, the NDIC has begun verification of depositors of 22 micro-finance banks (MFBs) whose operating licences were recently revoked by the Central Bank of Nigeria (CBN).

The verification is meant to prepare the ground for the payment of insured sums to eligible depositors.

Depositors of the affected MFBs have been advised to visit the closed banks’ addresses where their claims would be verified by the NDIC’s officials.  They are also to visit the corporation’s website for the list of the banks and to verify their claims.

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