The Nigeria Deposit Insurance Corporation (NDIC) has commenced the sale of assets belonging to 183 liquidated financial institutions to pay depositors following the revocation of their licences by the Central Bank of Nigeria (CBN).
The Corporation stated that the assets of the assets on the 179 Microfinance Banks (MfBs) and the four Primary Mortgage Banks (PMBs) were put on sale to offset deposits exceeding N250,000, which is not covered by the NDIC.
In a statement posted on its website, the NDIC disclosed that payments had commenced for depositors of the liquidated financial institutions who provided alternate bank accounts.
It stated “The Nigeria Deposit Insurance Corporation (NDIC), the official Liquidator of the under-listed 179 Microfinance Banks (MFBs) and four Primary Mortgage Banks (PMBs) whose licenses were recently revoked by the Central Bank of Nigeria (CBN), wishes to inform all affected depositors that payment is ongoing for those who provided alternate bank accounts during the verification exercise.
“Depositors without alternate accounts in commercial banks and those yet to be verified, should therefore visit the nearest NDIC office with proof of account ownership and verifiable means of identification for their verification and payment”, it added.
The Corporation listed the four primary mortgage banks as Adamawa Savings and Loans, Kogi Savings and Loans, Resort Savings and Loans and Safetrust Mortgage Bank.
