N11.83b paid to depositors of insured financial institutions
Corporation extend coverage to 981 financial service providers
The Nigeria Deposit Insurance Corporation (NDIC) said depositors of 20 liquidated deposit money banks (DMBs) have been paid 100 per cent of their trapped funds as of September.
The Corporation also revealed that it successfully paid out N11.83 billion to 443,949 depositors of insured financial institutions in liquidation as of June 30.
Besides, it paid over N101.37 billion to uninsured depositors of all categories of banks in liquidation since its inception.
According to the NDIC, the liquidation activities cover a total of 467 insured financial institutions, comprising 49 DMBs, 367 microfinance banks (MFBs) and 51 primary money banks (PMBs).
These come as the Corporation has extended insurance coverage to 981 financial service providers, which cut across the entire spectrum of the ecosystem.
NDIC Managing Director, Bello Hassan, disclosed this yesterday while declaring open the 2022 NDIC workshop for business editors and members of the Financial Correspondent Association of Nigeria (FICAN) in Port Harcourt, Rivers State.
Hassan said out of the 49 DMBs in liquidation, the Corporation in September, declared 100 per cent liquidation dividends in 20 of those institutions. This means the organisation had raised enough funds from the disposal of assets of the affected banks to pay all their depositors fully.
Hassan…
