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The Nigeria Deposit Insurance Corporation (NDIC) confirmed on Monday that depositors, creditors, and shareholders of 20 liquidated banks are set to receive approximately N61.63bn in paid liquidation dividends.
As of July 2023, N45.45bn has already been disbursed, according to a statement signed by Bashir Nuhu, the NDIC’s Director of Communication and Public Affairs. The statement refuted circulating reports on the liquidation of 20 banks, clarifying that an additional N16.18bn in liquidation dividends is earmarked for payment to stakeholders.
The NDIC clarified that the closure of these 20 banks resulted from the revocation of their operating licenses by the Central Bank of Nigeria between 1994 and 2018. The statement emphasized, “The general public should be aware that the NDIC has fulfilled its commitment by paying the guaranteed sums owed to depositors.”
Highlighting the Corporation’s efforts, the statement noted cumulative payments of liquidation dividends exceeding guaranteed sums to depositors of the 20 banks, with an additional N16.18 billion announced for payment to depositors, creditors, and shareholders.
The NDIC listed the closed banks, including Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, Progress Bank, Merchant Bank of Africa (MBA), Premier Commercial Bank, North-South Bank, Prime Merchant Bank, Commercial Trust Bank, Cooperative and Commerce Bank, Rims Merchant Bank, Pan African Bank, Fortune Bank, All States Trust Bank, Nigeria Merchant Bank, and Amicable Bank in liquidation.
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