NDIC Has Been Unwavering In Reimbursing Depositors Of Failed Banks – MD

The Nigeria Deposit Insurance Company (NDIC) has declared that it has been unwavering in its commitment to prompt reimbursement of depositors affected by failed banks.

The managing director/chief executive of NDIC, Mr Bello Hassan disclosed this on the occasion of NDIC’s Special Day at the ongoing 35th Enugu International Trade Fair.

Mr Hassan, who was represented by the controller of Enugu zonal office of NDIC, Pamela Robert said since the Central Bank of Nigeria revoked the licenses of 179 microfinance banks and four primary mortgage banks in 2023, NDIC has continued to efficiently disburse insured sums to verified depositors of the closed financial institutions.

He added that notably, depositors who have undergone verification and have provided alternative account details have received their payments seamlessly within a record period of five working days.

“It is worth noting that depositors exceeding the insured limit will receive liquidation dividends once debts are recovered and assets of the closed banks are disposed.

“Moreover, the NDIC strongly encourages depositors of affected banks to come forward with their BVN, proof of account ownership, proper identification and/ or alternative details.

“Various channels are available for claims including visiting the ‘claims page’ on the NDIC website for further inquiries as we remain steadfast in fulfilling our mandate and prioritising safety of depositors fund,” he stated.