Depositors, stakeholders of 20 banks to be paid additional N16bn liquidation dividends by NDIC

The Nigeria  Deposit Insurance Corporation (NDIC), has declared an additional N16 billion plus as liquidation dividend to be paid to depositors, creditors and shareholders of 20 banks in-liquidation.

A statement issued by Mr Bashir Nuhu, the Director, Communication and Public Affairs of NDIC in Abuja on Monday, said the declaration followed  impressive recoveries from debtors and realisation of assets of the banks in liquidation.

He said the Corporation had commenced verification and payment of stakeholders covered by the declarations within 30 days, which started from Sept. 28.

Nuhu listed the closed banks covered by the exercise to include Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank and Progress Bank.

Others are Merchant Bank of Africa (MBA), Premier Commercial Bank, North South Bank and Prime Merchant Bank.

He said that 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 would also benefit.

”It is instructive to note that the ongoing payment is sequel to earlier payment of various sums which cumulatively amounted to N45.45 billion as liquidation dividends in respect of the 20 banks as at July.

”Relevant stakeholders have been requested  to  visit any of the NDIC’s  offices closer to  them  or  go  to the claims page on the Corporation’s website,” he said.

Nuhu said that liquidation dividend represents amount in excess of the insured sums paid by the NDIC to depositors of a closed bank.