By Tony Edike
ENUGU – The Nigeria Deposit Insurance Corporation, NDIC, says it has paid a cumulative sum of N90.13 billion to depositors of 48 Deposit Money Banks (DMBs) in liquidation as at December 31, 2012 just as it doled out N2.50 billion to insured depositors of 103 closed Microfinance Banks (MFBs).
Managing Director/ CEO of NDIC, Alhaji Umaru Ibrahim who made the disclosure weekend during the NDIC Day at the on-going 24th Enugu International Trade Fair also stated that the corporation has a crucial role to play towards the safety, soundness and stability of Nigeria’s financial system.
Ibrahim further disclosed that between 2011 and 2012, NDIC made cumulative liquidation dividend payments of N373.04 million, N620.0 million and N293.0 million to shareholders of Alpha Merchant Bank, Nigeria Merchant Bank and Pan Africa Bank, respectively that are in liquidation.
He said that the feats were in addition to the settlement of all the depositors and creditors of the three banks for which the corporation established bridge banks in 2011.
The NDIC boss emphasized the seamless introduction of the three bridge banks to save over 3.7 million depositors of the erstwhile Afribank Plc, Bank PHB and Spring Bank along with preservation of over 6600 jobs in August 2011.
The regulatory authorities, he further said, recently planned to introduce the promotion of financial inclusion initiatives in Nigeria through the agency banking and mobile banking, amongst others.
“The exercise was meant to further the economic condition of our rural dwellers that have all these while been excluded from formal economy,” said Ibrahim. He noted that NDIC has created help desk that works 24 hours to enable customers report cases as arbitrary bank charges, account balances and fraud.
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