The Nigeria Deposit Insurance Corporation (NDIC) has provided clarification regarding the reported liquidation of 20 banks by the Central Bank of Nigeria. The Corporation asserted that the purported closure of these 20 banks occurred between 1994 and 2018 due to license revocation, emphasizing that this disciplinary action is not recent.
Bashir Nuhu, the Director of Communication & Public Affairs at the NDIC, released a statement stating that the NDIC, in fulfilling its obligations by July 2023, disbursed guaranteed sums totaling N45.45 billion in liquidation dividends to depositors. Additionally, an extra N16.18 billion has been allocated for depositors, creditors, and shareholders.
Nuhu encouraged stakeholders associated with the aforementioned banks to visit NDIC offices or the official website for verification and to submit their claims. The banks affected by this clarification include Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, Progress Bank, MBA, Premier Commercial Bank, North-South Bank, and Prime Merchant Bank. Others are Commercial Trust Bank, Cooperative and Commerce Bank, Rims Merchant Bank, Pan African Bank, Fortune Bank, All States Trust Bank, Nigeria Merchant Bank, and Amicable Bank in liquidation.
Nuhu highlighted that the liquidation dividends surpass the insured sums and encompass payments to creditors and shareholders after the complete settlement of depositors from the defunct banks.