The Central Bank of Nigeria’s reported liquidation of twenty banks has been addressed by the Nigeria Deposit Insurance Corporation (NDIC).
The Corporation stated that the 20 banks were not recently sanctioned and that they had previously closed between 1994 and 2018 due to license revocation.
In a statement, NDIC Director of Communication & Public Affairs Bashir Nuhu stated that the organization has paid guaranteed amounts to depositors, totaling N45.45 billion in liquidation dividends, in fulfillment of its duty by July 2023.
He stated that N16.18 billion more is planned for shareholders, creditors, and depositors.
In order to validate and file their claims, the statement asked stakeholders in the institutions that were highlighted to visit the NDIC offices or the website.
The following banks are among those that are impacted: MBA, Premier Commercial Bank, North-South Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, Progress Bank, Liberty Bank, City Express Bank, Assurance Bank, Century Bank, and Prime Merchant Bank. The other banks include Amicable Bank in-liquidation, All States Trust Bank, Nigeria Merchant Bank, Rims Merchant Bank, Pan African Bank, Fortune Bank, Cooperative and Commerce Bank, and Commercial Trust Bank.
According to Nuhu, liquidation profits beyond guaranteed amounts and cover payments made to shareholders and creditors after bank depositors have been fully compensated.