By Tony Obiechina, Abuja
The Nigeria Deposit Insurance Corporation, NDIC, has again enjoined depositors, creditors and shareholders of 20 closed banks to come for verification and payment of liquidation dividends.
Managing Director/ Chief Executive of the Corporation, Mr. Bello Hassan, made the call at the ongoing Lagos International Trade Fair.
He said, “While depositors of Deposit Money Banks,DMBs, Primary Mortgage Banks, PMBs, Non Interest Banks, NIBs, Payment Service Banks, PSBs and subscribers of Mobile Money Operators, MMOs are currently insured up to maximum limit of N500,000 per depositor per bank, those of MFBs are guaranteed up to a maximum limit of N200,000 per depositor per bank.’’
The Managing Director who was represented by Mr Bashir Nuhu, Director of Public Affairs and Communication, explained further, “While the insured limits are periodically reviewed by the Board of the Corporation to ensure that the majority of depositors are covered, it is important to add that depositors who have balances in excess of the insured sums are regularly paid the excess as liquidation dividends, which often extends to creditors and shareholders of the banks.”
He added that the Corporation has recorded significant achievements in the area of bank liquidation and recently had repeated its call to depositors of twenty closed banks in which it has declared full (i.e. 100%) liquidation dividends to come forward for verification and payment of their deposits that are in excess of the guaranteed sums, otherwise called “liquidation dividends”.
According to Mr Hassan, the affected Banks are, ABC Merchant Bank Limited; Allied Bank of Nigeria; Alpha Merchant Bank Plc.; Amicable Bank of Nig. Limited; Commerce Bank; Commercial Trust Bank Limited; Continental Merchant Bank Plc.; Cooperative & Commerce Bank Plc.; and Eagle Bank.
Others are, Financial Merchant Bank Limited; Icon Limited (Merchant Bank); Ivory Merchant Bank; Kapital Merchant Bank Limited; Mercantile Bank of Nig. Plc.; Merchant Bank of Africa Limited; Nigeria Merchant Bank Plc; Pan African Bank Limited; Premier Commercial Bank Limited; Progress Bank of Nigeria; and Rims Merchant Bank Limited.
According to the Managing Director, “Similar notices were also sent to Creditors of seven DMBs in-liquidation as well as depositors and ex-staff of Eurobank Savings & Loans, Okporo MFB and Eurofield MFB.’’
