NDIC begins payment of MFB depositors

By Etuka Sunday

The Nigeria Deposit Insurance Corporation (NDIC) has commenced the verification and payment of insured deposits of 33 out of 83 microfinance banks (MFBs) whose licences were recently revoked by the Central Bank of Nigeria (CBN).

A statement by the Head, Communication & Public Affairs, H. S. Birchi said that the first phase of the deposit pay-out of the 33 closed MFBs would cover total deposit liabilities of N588, 685,792.25 and each depositor would receive a maximum of N200, 000.

The statement said, “As part of the verification and payment exercise being undertaken by staff of the Corporation, affected depositors are to report to the last known addresses of their closed MFBs with evidence of account ownership including passbooks, cheque books and personal identification documents such as national identity cards, drivers licences and voters cards.

“Depositors without valid identification documents are to obtain introduction letters with their photographs and the letters are duly signed by traditional rulers of their localities or local government chairmen.

It said, “The depositors are also requested to take along details of alternative bank accounts operated in any of the existing banks into which their insured claims could be paid while those without bank accounts have been asked to provide details of accounts of close relatives to which their payment could be made.

The corporation also announced it has commenced verification and payment of N125 million as first liquidation dividend of 50 kobo each to shareholders of the defunct Rims Merchant Bank at its Abuja and Lagos Offices and eight zonal offices nationwide.