Title: "NDIC Pays N16.18 Billion in Dividends to Depositors of 20 Liquidated Banks"
The Nigeria Deposit Insurance Corporation (NDIC) has taken a significant step towards resolving the fallout from the liquidation of 20 banks by declaring N16.18 billion in liquidation dividends. This announcement follows the Corporation's successful efforts to recover debt from debtors and acquire assets from the liquidated banks.
The Director of Communications and Public Relations at NDIC, Bashir Nuhu, revealed that the payment process has officially begun. Deposit holders, creditors, and shareholders of the 20 liquidated banks can now verify and claim their dividends within a 30-day window, starting from September 28, 2023.
This move by NDIC marks a crucial milestone in addressing the financial repercussions of the bank closures. Earlier payments totaling N45.45 billion in liquidation dividends were made as of July 2023. The ongoing distribution aims to provide compensation to stakeholders affected by the liquidation of these banks.
Stakeholders have been urged to visit NDIC's offices or access the claims page on the Corporation's website to download, complete, and submit the verification form along with the required supporting documents to the dedicated email: [email protected].
The banks covered by this exercise include Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, and others. The liquidation dividend represents the excess amount paid by NDIC to depositors beyond the insured sums, derived from the recovery of assets of failed financial institutions. This significant development showcases NDIC's commitment to resolving the aftermath of the bank liquidations and ensuring that stakeholders receive their due compensation
The Nigeria Deposit Insurance Corporation (NDIC) has taken a significant step towards resolving the fallout from the liquidation of 20 banks by declaring N16.18 billion in liquidation dividends. This announcement follows the Corporation's successful efforts to recover debt from debtors and acquire assets from the liquidated banks.
The Director of Communications and Public Relations at NDIC, Bashir Nuhu, revealed that the payment process has officially begun. Deposit holders, creditors, and shareholders of the 20 liquidated banks can now verify and claim their dividends within a 30-day window, starting from September 28, 2023.
This move by NDIC marks a crucial milestone in addressing the financial repercussions of the bank closures. Earlier payments totaling N45.45 billion in liquidation dividends were made as of July 2023. The ongoing distribution aims to provide compensation to stakeholders affected by the liquidation of these banks.
Stakeholders have been urged to visit NDIC's offices or access the claims page on the Corporation's website to download, complete, and submit the verification form along with the required supporting documents to the dedicated email: [email protected].
The banks covered by this exercise include Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, and others. The liquidation dividend represents the excess amount paid by NDIC to depositors beyond the insured sums, derived from the recovery of assets of failed financial institutions. This significant development showcases NDIC's commitment to resolving the aftermath of the bank liquidations and ensuring that stakeholders receive their due compensation
