Ripples Nigeria
The Nigeria Deposit Insurance Corporation (NDIC) has liquidated at least 500 deposit money, microfinance, and primary mortgage banks whose licences were revoked by the Central Bank of Nigeria (CBN).
The Director of Insurance and Surveillance Department of the NDIC, Galadima Gana, disclosed this at the 2021 Financial Correspondents Association of Nigeria (FICAN) workshop on Friday in Ibadan, Oyo State.
He said the corporation was currently settling the dividends of the banks’ depositors.
According to him, 325 MFBs, 50 PMBs, and 49 DMBs were affected in the exercise.
Gana revealed that NDIC had cumulatively paid N8.27 billion to insured depositors of the DMBs, N3.38 billion to MFBs depositors, and N11 billion to their PMBs counterparts.
He said the corporation had also paid N100.85 billion, N1.27 billion, and N4.83 billion to uninsured depositors, creditors, and shareholders of DMBs.
