NDIC pays 111.76 billion naira to depositors of liquidated banks

The Nigeria Deposit Insurance Corporation said it has paid more than N111.76 billion to insured and uninsured depositors of liquidating deposit banks and microfinance banks as of September 30, 2021.

He added that the cumulative insured amount he had paid to 1,553 depositors of primary mortgage banks closed as of September 30, 2021 was N 110.15 million while N 7.96 million was paid as uninsured deposits at PMBs.

Nigeria Deposit Insurance Corporation Managing Director / Managing Director Bello Hassan, who declared them at the 2021 edition of the NDIC-Editors Forum held in Lagos on Saturday, noted that in the event of bank failure, over 97% of depositors would be fully covered by the company.

Speaking on “Resisting Extreme Disruptions: Resilience and Reinvention for Banking System Stability and Deposit Insurance,” he said the company remains committed to its mandate of prompt repayment of money insured to bank depositors. bankrupt.

He said: “NDIC had paid a cumulative sum of N8.268 billion to 443,946 insured depositors and N100,080 billion to uninsured depositors in liquidating deposit banks as of September 30, 2021, while N3.413 billion was paid to 90,945 insured depositors of microfinance banks and 1.218 million naira to uninsured depositors.

“In a related vein, the cumulative insured amount paid to 1,553 depositors of closed primary mortgage banks as of September 30, 2021 stood at 110.15 million naira while 7.965 million naira was paid as uninsured deposits.

“More importantly, the payment of 1.274 billion naira to 991 creditors and 4.886 billion naira to 965 shareholders of liquidating banks as of September 30, 2021 underscored the company’s success in bank liquidation.”

These, he said, implied that the company had realized enough assets to pay all the insured and uninsured depositors of the banks that show up for payment, adding that 19 of the 49 DMB in liquidation were currently falling into this category.

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