• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, July 5, 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

Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs

Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG

Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

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

Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs

July 5, 2025
Veritas Kapital’s total assets hit N21.4bn
Economy/Technology

Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG

July 4, 2025
Salvaging basic education from ruins of Boko Haram war in Borno
Economy/Technology

Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

July 3, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Nasarawa showcases efficient use of fuel subsidy savings, exposes futility of Tinubu’s opposition’s mischief – TDF

July 1, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

Transformational in FCT in line with Tinubu’s Renewed Hope agenda

June 30, 2025
China’s agricultural wholesale products prices continue to drop
Agriculture

Ignore Atiku’s claim to dilute historic mechanised farming deal with Belarus

June 29, 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

Council seeks incentives to boost indigenous ship operations

20 ships discharge goods at Lagos ports

January 12, 2023
Tinubu emerges new ECOWAS Chairman

Tinubu’s re-election as ECOWAS Chairman a pivotal moment for West Africa – TSF

July 11, 2024
Tinubu approves new members for NCP

Tinubu approves new members for NCP

December 8, 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

  • Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs
  • Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG
  • Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

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