• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, October 3, 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 Economy/Technology

NDIC declares 100% dividend to pay depositors of 20 liquidated banks

NDIC

The Matters Press by The Matters Press
November 29, 2022
Reading Time: 2 mins read
0
Fraud in banking sector, mostly insider instigated

NDIC declares 100% dividend to pay depositors of 20 liquidated banks

RELATED POSTS

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

Atiku’s hunger revolution, delusional – TMSG

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

Mr Bello Hassan, Managing Director, Nigeria Deposit Insurance Corporation (NDIC), said the corporation in September, declared 100 per cent liquidation dividend in 20 institutions.

The dividends were in respect of the 49 Deposit Money Banks (DMBs) in-liquidation.

Hassan made the disclosure at 2022 NDIC workshop, organised for the Finance Correspondents Association of Nigeria (FICAN) and Business Editors, on Monday in Port Harcourt.

He said that the corporation had realised enough funds from its assets to fully pay all depositors of the listed banks.

The three-day workshop, which was its 19th edition, had “Boosting Depositors Confidence Amidst Emerging Issues and Challenges in the Banking System,” as theme.

Hassan noted that the corporation had cumulatively paid ₦11.83 billion to more than 443,949 insured depositors and ₦101.37 billion to uninsured depositors of all categories of banks in-liquidation, as at June.

“The NDIC bank liquidation mandate entails reimbursement of insured and uninsured depositors, creditors, and shareholders of banks in- liquidation.

“The liquidation activities, as at June 30, 2022, covered a total of 467 insured financial institutions in in-liquidation, comprising 49 DMBs, 367 MFBs, and 51 PMBs,” he said.

The NDIC boss said that the corporation had also provided deposit insurance coverage to a total of 981 insured financial institutions.

He named the financial institutions insured to be 33 DMBs made up of 24 Commercial Banks, six Merchant Banks and three Non-Interest Banks (NIBs) plus two Non-Interest Windows; 882 Microfinance Banks (MFBs); 34 Primary Mortgage Banks (PMBs); 3 Payment Service Banks (PSBs) and 29 Mobile Money Operators.

The NDIC boss said that the corporation had in May, developed and deployed the Single Customer View (SCV) platform for the Microfinance and Primary Mortgage Banks, to strengthen its processes and procedure for data collection.

He explained that the platform would not only ensure availability of quality, timely and complete data to the NDIC, but would eliminate delays often experienced in reimbursing depositors, following revocation of institutions’ licences by the CBN.

He said that the final phase of the implementation of the SCV for Deposit Money Banks (DMBs) would be achieved through the incorporation of the SCV template as part of the on-going Integrated Regulatory Solution (IRS) jointly being developed with the CBN.
On consumer protection, the NDIC boss said the corporation had strengthened its complaints resolution platforms, which included the Toll-Free Help Desk, social media handles and Complaints Desks in the Bank Examination.

Other strengthened platforms are Special Insured Institutions and Claims Resolutions Departments, and the Zonal Offices, to receive and process complaints from depositors.

He commended stakeholders and reiterated that the landmark achievements of the corporation and others, would not have been possible, without their active support.

Tags: DepositorsNDIC
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

September 24, 2025
Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s hunger revolution, delusional – TMSG

September 23, 2025
‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG
Economy/Technology

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

September 22, 2025
2023 maritime, shipping outlook force experts to call for aid
Economy/Technology

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

September 17, 2025
NBS reports increase in Inflation
Economy/Technology

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

September 17, 2025
Old pension scheme beneficiaries get a boost in entitlements
Economy/Technology

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

September 14, 2025
Next Post
ActionAid, SWOFON call for urgent completion of BOA recapitalisation

ActionAid, SWOFON call for urgent completion of BOA recapitalisation

Rice farmers from poverty to wealth

FG releases funds for 10 large-scale integrated rice mills

Recommended Stories

Nigeria’s new national carrier will kick-off with three planes

Nigeria will have a national carrier in 2022

July 6, 2022
Importers face delays, higher costs on Red Sea woes

$800m for port rehabilitation almost ready

February 23, 2024
Non-remittance of third party deduction by IPPIS worries agencies

Non-remittance of third party deduction by IPPIS worries agencies

August 27, 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

  • Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎
  • Atiku’s hunger revolution, delusional – TMSG
  • ‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

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