Finance & EconomyNews

NDIC Set to Pay Depositors of 20 Liquidated Banks

The Managing Director, of Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, has said the corporation has concluded plans to pay depositors of the 20 liquidated banks. 

According to him, the corporation through its resolute liquidation efforts has realised enough funds to fully pay all depositors of the listed banks.

The affected banks are ABC Merchant Bank Limited; Allied Bank of Nigeria: Alpha Merchant Bank Plc.; Amicable Bank of Nig. Limited; Commerce Bank; Commercial Trust Bank Limited; Continental Merchant Bank Plc. Cooperative & Commerce Bank Plc.; Eagle Bank; Financial Merchant Bank Limited.

Others are Icon Limited (Merchant Bank); Ivory Merchant Bank; Kapital Merchant Bank Limited, Mercantile Bank of Nig. Plc.; Merchant Bank of Africa Limited, Nigeria Merchant Bank Plc.; Pan African Bank Limited; Premier Commercial Bank Limited; Progress Bank of Nigeria; and Rims Merchant Bank Limited.

Speaking at the ongoing Lagos international trade fair, in Lagos recently with the theme, ‘Connecting Businesses, Creating Values’, Bello said the corporation has recorded significant achievements in the area of bank liquidation.

“Therefore I’d like to once again call on depositors, creditors and shareholders of the listed closed banks to avail themselves of the verification platforms provided by the Corporation to claim their funds. They are at liberty to visit any of the Corporation’s nearest offices physically or utilise the NDIC online App or visit the Claims Page on our website:, to expedite processing of their claims, “he said.

Represented by NDIC Director, Communication and Public Affairs Department, Mr. Bashir Nuhu, Hassan, he explained the modalities for the payment adding that the NDIC has spread its staff at all the branches nationwide so that people can go and claim their benefit.

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