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NDIC pays N1.45 billion to 34 closed Deposit Money Banks
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NDIC pays N1.45 billion to 34 closed Deposit Money Banks

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The Nigeria Deposit Insurance Corporation says it has paid the sum of N1.45 billion to 16,324 depositors of 34 closed Deposit Money Banks last year, 2017

NDIC’s Managing Director,Umaru Ibrahim said N8.25 billion was paid to more than four hundred thousand insured depositors of Deposit Money Banks in-liquidation as at Dec. 31, 2017.

According to him, the figure represents an increase of 21.32 per cent over the amount paid in 2016.

Ibrahim was quoted as saying;

“NDIC paid N13. 24 million to 173 insured depositors of Micro Finance Banks (MFBs) in-liquidation in 2017 compared to N8.49 million paid to 110 depositors in 2016.

To date, the sum of N2.88 billion has so far been paid as insured deposits to 81,611 depositors of 187 closed MFBs as at Dec. 31, 2017, as against N2.87 billion paid to 81, 438 depositors in 2016. Similarly, N15.38 million was paid as insured deposits to 170 depositors of Primary Mortgage Banks (PMBs) in 2017 compared to N7.97million paid to 75 depositors in 2016.

On the aggregate, N68.40 million was paid to 840 depositors of 46 PMBs in-liquidation as at Dec.311, 2017, as against N53.03 million paid to 670 depositors in 2016’’

The NDIC also said it recovered N28.48 billion from debtors of Deposit Money Banks as at December 31, 2017.

Ibrahim added that the sum was higher than the N28.16 billion realised in 2016.

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