• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Sunday, July 6, 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 assures defunct banks’ depositors of prompt refund

Depositors

The Matters Press by The Matters Press
May 25, 2023
Reading Time: 2 mins read
0
NDIC gives hope to customers of Fortis Bank

The Nigeria Deposit Insurance Corporation (NDIC) has assured depositors of the closed banks of speedy payment of their insured sums.

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

The assurance followed the revocation of licences of 179 microfinance banks and four Primary Mortgage Banks by the Central Bank of Nigeria.

The Managing Director of NDIC, Mr Bello Hassan, gave this assurance in a statement after the revocation of licences of the affected MFBs and PMBs by the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele.

In the statement signed by the Director, Communication & Public Affairs Department, NDIC, Bashir Nuhu, the NDIC boss stated that the insured deposit was the first claim that the corporation paid to depositors upon revocation of bank’s licence by the CBN.

He added that, maximum specified limits for the MFB and PMB sub-sectors are N200,000 and N500,000 per depositor per bank, respectively.

As liquidator, the managing director said, “The corporation has also put machinery in motion to commence sales of assets of the defunct banks as well as recover debts owed to them in order to declare liquidation dividends on pro rata basis to the affected depositors with claims exceeding the maximum insured sums of N200,000 for MFBs and N500,000 for PMBs.”

He assured that regulatory authorities were leaving no stone unturned to ensure that the soundness of the banking system was not compromised, and that there was no need for the public to panic over the safety of their bank deposits.

Hassan said, as deposit insurer, the NDIC would begin the process of payment of the insured sums immediately with the verification of eligible depositors at the respective premises of the closed banks.

He urged such depositors to get the required documents for the exercise such as proof of account ownership, verifiable means of identification and alternate bank account to facilitate their seamless verification and payment of their insured deposits.

Tags: DepositorsNDIC
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
Customers decry poor network, inability of ATMs to dispense cash

Nigerians get NIN with debit card merger

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

Nigeria Air Plane getting set to hit market

Recommended Stories

2020 Finance Bill prescribes tax incentives

LIRS shuts 34 companies for tax evasion

November 1, 2023
NPA tasks arbitrators on speedy dispute resolution

NPA tasks arbitrators on speedy dispute resolution

February 10, 2022
Nigeria, WFP worry over food situation

Food security: FG inaugurates National Steering Committee for FAO’s initiative

December 5, 2022

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