NDIC pays N69.9bn dividend for liquidated banks

By Luka Binniyat

KADUNA- Nigerian Deposit  Insurance Corporation, NDIC, yesterday said that it had so far paid an aggregate dividend of N69.9 billion for the 48 banks liquidated by the Central Bank last year.

The NDIC, which made this known yesterday  during the NDIC Day at the ongoing 32nd Kaduna International Trade Fair,  also affirmed that  all depositors and shareholders in all failed financial institutions would recover their monies in full.

This message was contained in the speech of the Managing Director of the NDIC, Alhaji Umar Ibrahim, read by the Executive Director, Banking Operations of the Corporation, Mr. Agatise Eredua.
He said: “As at the end of December, 2010, the Corporation had paid an aggregate dividend of N69.9 billion for the 48 banks in liquidation.

“Of the 48 banks in liquidation, a final dividend of 100% of total deposits had been declared for 11 banks, indicating that all the depositors of those banks would have fully recovered their deposits
“Liquidation dividends have also been paid to some general creditors and shareholders of some closed banks.
“As at December, 2010, the sum of N1.5 billion was declared to 439 creditors and the Corporation had paid the sum of N848.127 million to creditors who filed their claims.”

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