NDIC reveals steps to getting full payment from 20 failed banks

• The Nigeria Deposit Insurance Corporation (NDIC) has announced plans to wage 100% liquidation dividend to depositors of 20 failed banks
• The corp disclosed via Pamela Robert, who represented Bello Hassan astatine the 36th Enugu Trade Fair
• She said the corp has kick-started plans for the outgo of the archetypal tranche of liquidation dividends this month

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.

The Nigeria Deposit Insurance Corporation (NDIC) has said that it volition wage a 100% liquidation dividend to depositors of 20 failed banks, a important milestone successful the corporation’s committedness to depositors' protection.

The NDIC announced this during its Special Day astatine the 36th Enugu International Trade Fair done its managing manager and main executive, Bello Hassan, represented by the South-East Zonal Coordinator, Pamela Robert.

NDIC says it volition reimburse customers of failed banks, asking them to come. Credit: NDIC
Source: UGC

NDIC begins outgo to customers of 20 banks

She disclosed that plans person started for the outgo of the archetypal tranche of liquidation dividends, which volition commence this month.

According to her, NDIC is liable for liquidating failed banks, reimbursing insured depositors, recovering debts, and disposing of assets to guarantee afloat payments to depositors and others.

Robert disclosed that for implicit 30 years, the corp has played a important relation successful protecting depositors and boosting the fiscal system.

She stated that the NDIC’s main responsibilities see deposit insurance, supervision of fiscal institutions, solution of failing banks, and managing liquidations.

She restated the NDIC’s ngo to beforehand fiscal inclusion and nationalist assurance successful the banking sector, saying that the corp collaborates with the Central Bank of Nigeria (NDIC) to support stableness and enforce banking regulations.

NDIC reimburses Heritage Bank customers

Citing the lawsuit of Heritage Bank’s licence revocation, Robert said the NDIC instantly began the liquidation process, including verification and timely outgo of insured deposits of up to N5 cardinal per depositor wrong 4 days.

He noted that astir depositors person already received their insured funds via alternate slope accounts linked to their BVN, saying those who are yet to beryllium paid are those without BVN, restricted accounts oregon person KYC issues specified arsenic sanction mismatch oregon tier-1 limitations.

She asked affected slope customers to sojourn the NDIC’s website, email the corporation, interaction it via societal media, oregon sojourn its zonal offices with the indispensable documents for payment.

NDIC lists ways to retrieve funds

Vanguard reports that Robert said that depositors volition get up to N5 million, and balances transcend the amount. Also, uninsured deposits are reimbursed arsenic liquidation dividends erstwhile capable assets and indebtedness recoveries are made. 

Reports accidental Robert revealed that the NDIC has declared 100% liquidation dividends to depositors of 20 failed banks, stressing that the accomplishment shows the corporation’s quality to fulfil its mandate.

Regarding Heritage Bank, Robert noted that the corp has made progress successful plus income and indebtedness recovery.

She expressed optimism astir NDIC’s fiscal and operational capableness to repay each verified depositors.

NDIC begins reimbursement of customers of Heritage Bank Credit: Bloomberg/Contributor
Source: UGC

She urged each affected depositors to prosecute with the NDIC to assertion their entitlements.

NDIC: How to person trapped funds

Legit.ng earlier reported that the NDIC said it reimbursed 82.36% of the customers of the liquidated Heritage Bank with deposits beneath the N5 cardinal maximum insured deposit.

The NDIC’s manager of communications and nationalist affairs, Bahir Nuhu, disclosed this connected Sunday, August 11, 2024, and said that the corp achieved this via the usage of BVN-linked alternate accounts of customers of the liquidated bank.

According to Nuhu, the NDIC began paying insured deposits of a maximum of N5 cardinal per depositor wrong 4 days of the bank’s closure.

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Source: Legit.ng