By Ginika Okoye
Abuja, Dec. 21, 2020 The Nigeria Deposit Insurance Corporation (NDIC) says it has commenced the verification of depositors of the 42 MicroFinance Banks (MFB) whose operating licenses were recently revoked by the Central Bank of Nigeria (CBN).
A statement by Mr Bashir Nuhu, the NDIC Director of Communication and Public Affairs, in Abuja on Monday, called on the depositors to visit their banks’ address locations for verification from Dec. 21.
Nuhu said that officials of the corporation would be on ground at the various banks to verify the claims of the depositors from Dec. 21 to Dec. 24.
Nuhu in the statement requested the depositors to visit their banks with the proof of account ownership including passbook, cheque booklet and valid means of identification to facilitate the verification.
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The Central Bank of Nigeria has revoked the operating licences of 42 microfinance banks in the country.
The Nigeria Deposit Insurance Corporation disclosed this on Friday in an announcement on its website titled ‘Notice of closure of 42 microfinance banks’.
It stated, “This is to inform the depositors, creditors, shareholders and the general public that the operating licences of the under listed 42 microfinance banks have been revoked by the Central Bank of Nigeria effective 12th November, 2020.
“The Nigeria Deposit Insurance Corporation, the official liquidator of the banks whose licences were recently revoked, is in the process of closing the listed banks and pay their insured depositors.
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NDIC begins verification of depositors of 42 failed MFBs thenationonlineng.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationonlineng.net Daily Mail and Mail on Sunday newspapers.
Failed banks: Why unclaimed deposits high ― NDIC
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By Emma Ujah, Abuja
The Nigeria Deposit Insurance Corporation (NDIC) has attributed the high level of unclaimed deposits of failed banks to limited understanding and the widespread misconception of the Deposit Insurance System (DIS) in Nigeria.
The Executive Director (ED), Corporate Services of NDIC, Mrs Omolola Abiola-Edewor made this disclosure yesterday, while delivering her keynote address at the opening ceremony of the 2020 Sensitization Seminar for Judges of the Federal High Court, in Abuja, according to a statement by the Director, Communication & Public Affairs, Dr Bashir Nuhu.
According to Mrs Abiola- Edewor, this phenomenon has informed the concerted efforts by NDIC to continuously collaborate with the Judiciary and other stakeholders with a view to promoting public awareness of deposit insurance.