NDIC declares 100% dividends to 22 banks in liquidation
The Nigeria Deposit Insurance Corporation (NDIC) said it declared 100% liquidation dividends to depositors of 22 depository banks (DMBs) in liquidation.
Speaking at the NDIC’s special day at the ongoing 34th Kaduna International Trade Fair, the company’s Managing Director and CEO Bello Hassan said it means that the NDIC has achieved enough to pay all depositors of the affected 22 DMB 100 per cent of their money trapped in the affected banks.
“This is fundamental for us because people’s confidence in the financial system can only be guaranteed when they are aware that their deposits are protected and that in the unlikely event of failure there is a government agency that would support them,” he said. noted.
Represented by Director of Communications and Public Affairs, Bashir Nuhu, the NDIC MD further revealed that “currently, every depositor of DMB, NIB, PMB and underwriter of MMO is insured up to the maximum limit of N500,000 by bank in case of failure; while the maximum coverage provided for MFB depositors is N200,000 per bank.
“The company declared 100% liquidation dividends to depositors of 22 DMB in liquidation. This means that the NDIC has made enough to pay all depositors in the 23 affected DMBs 100% of their money trapped in these banks.
“As a result, the company has since begun paying liquidation dividends to creditors and shareholders of certain banks, indicating that their depositors can access their full payments each time they file their claims.”
He said the theme of the fair, “Consolidation of the interface between industry and agriculture for the sustainable development of Nigeria”, aligns with the Federal Government’s desire to develop the non-oil sector, in particular agriculture to create jobs using the agricultural value chain to empower citizens. economically.