Nigerian Deposit Insurance Corporation (NDIC) yesterday disclosed that by August this year, it had recovered a debt of N22.158 billion from liquidated banks.
Managing Director of NDIC, Umaru Ibrahim also told Senate Committee on Banking, Insurance and other financial institutions at an interactive session in Abuja that the depositors’ fund in the 24 operating banks in Nigeria was N12.15 trillion.
Ibrahim who briefed the committee about the operations of the corporation disclosed that a sum of N8.33 million had been recovered to date in respect of closed micro finance banks (MFBs)whose figure is now 882.
He told the committee that “the total assets of the 24 deposit money banks in operation as at September 2011 stood at about N18.40 trillion while total deposits amounted to N12.15 trillion. For the 24 operating banks, as at September 2011, the total insured deposits stood at N1.65 trillion while the deposit insurance fund was N347 billion.”