• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, June 26, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

NDIC declares 100% liquidation dividends to depositors of 22 DMBs

NDIC

The Matters Press by The Matters Press
March 4, 2022
Reading Time: 2 mins read
0
NDIC gives hope to customers of Fortis Bank

The Management of the Nigeria Deposit Insurance Corporation (NDIC) said the Corporation has declared 100 percent liquidation dividends to depositors of Deposit Money Banks (DMBs).

RELATED POSTS

N1.5trn recapitalisation of Agric bank will herald food security – TMV

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope

Mr Bello Hassan, the Managing Director and Chief Executive of the Corporation disclosed this on Thursday at the special day of the corporation at the ongoing 43rd Kaduna International trade fair organized by the Kaduna Chambers of Commerce Industry, Mines and Agriculture (KADCCIMA).

Hassan who was represented by Bashir Nuhu, Director of Communications and Public Affairs said the Corporation had performed creditably well even in the face of daunting challenges, adding, “NDIC has realized enough to pay all depositors of the concerned 23 DMBs 100 percent of their money trapped in those banks.”
The MD noted that the theme of the fair: ‘’Consolidating Interface between Industry and Agriculture for Nigeria’s Sustainability Development’’ aligned with the Federal Government’s drive of developing the non-oil sector most especially Agriculture to create employment using the Agricultural value chain to empower citizens economically.

“The nexus in this for the NDIC is that when the Nation diversifies through the Agricultural sector and associated value chain, economic growth is stimulated and this invariably contributes to financial inclusion.

“It is imperative for me to say at this juncture that the NDIC has remained a consistent participant in the annual Kaduna International Trade Fair to sensitize the banking and general public about the existence of the deposit insurance system and the benefits of protection it offers them.

“This is fundamental to us because the populace confidence in the financial system can only be guaranteed when they are aware that their deposits are protected and that in the unlikely event of failure, there is an agency of government that would have their back” he stressed.

He further disclosed that the corporation provided deposit insurance cover to Microfinance Banks (MFBs), Deposit Money Banks (DMBs), Non-Interest Banks (NIBs), Primary Mortgage Banks (PMBs), subscribers of Mobile Money Operators (MMOs) and also to the recently licensed Payment Service Banks (PSBs).

“Presently each depositor of DMBs, NIBs, PMBs and subscribers of MMOs are insured up to the maximum limit of N500,000.00 per bank in the event of failure; while the maximum insured coverage for depositors of MFBs is N200,000.00 per bank.

He also mentioned that the guaranteed sums are first and immediate payment while liquidation dividends are second and prorated payments attached to the bank liquidation mandate of the Corporation.

“The Corporation has declared 100 percent liquidation dividends to depositors of 22 DMBs in-liquidation.

“What this means is that NDIC has realized enough to pay all depositors of the concerned 23 DMBs 100 percent of their money trapped in those banks.

“As a result, the Corporation has since moved on to commence payment of liquidation dividends to creditors and shareholders of some of the banks, indicating that their depositors can access their full payment whenever they file their claims” he stressed.

Tags: NDIC
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

ActionAid, SWOFON call for urgent completion of BOA recapitalisation
Agriculture

N1.5trn recapitalisation of Agric bank will herald food security – TMV

June 26, 2025
Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF
Energy

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

June 25, 2025
Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope
News

Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope

June 25, 2025
79 candidates for presidential election
News

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

June 23, 2025
Gombe: Troops take over to enforce peace
News

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

June 20, 2025
ECOWAS, Sahel states in deal to  confront terrorism
Foreign

ECOWAS, Sahel states in deal to confront terrorism

June 20, 2025
Next Post
Maritime workers begins strike July 3

Lilypond Terminal now non-oil export processing facility

Council seeks incentives to boost indigenous ship operations

Shippers’ council seeks interface with shipping lines

Recommended Stories

Nigeria’s N17.1trn budget to gets presidential accent on Friday

Stakeholders call for higher budgetary allocations to health, education, agric

October 23, 2022
Sahel region needs $157b yearly for SDGs

Sahel region needs $157b yearly for SDGs

November 13, 2018
Swiss Bank expects profit of $50bn

Pay accruals from fuel subsidy into Federation Account – Commissioners

June 9, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • N1.5trn recapitalisation of Agric bank will herald food security – TMV
  • Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF
  • Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us