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Sunday, October 1, 2023

Distressed Banks: We Are Set To Refund Depositors Money

By Ibrahim Danlami

Nigerian Deposit Insurance Corporation says it is ready to refund depositors whose money is trapped in 23 distressed banks across the country.

Managing Director of NDIC, Bello Hassan, disclosed this on Thursday in Kaduna at the ‘NDIC Day’ in the ongoing 43rd Kaduna International Trade Fair.

He said the corporation has enough funds to pay depositors, pointing out that they have moved for the commencement of payment to the affected depositors.

The MD assured the people that the era of failed banks in the country was over, adding that the NDIC was living up to its mandates of contributing to financial stability in the country.

The Managing Director, who was represented by the Director of Communication and Public Affairs, Bashir Nuhu, said apart from proving depositors insurance cover, Microfinance banks, commercial banks, non-interest banks, each depositors was insured up to N500,000 in the event of failure while N2m insurers coverage for depositors of Microfinance banks.

“It is on this note that I like to call on depositors of banks in liquidation to avail themselves of the corporation’s physical and online platforms for claiming their trapped deposits.

“The online claim verification platform has been incorporated into the Claim Page on our website (www.ndic.gov.ng) to facilitate processing of claims from the comfort of depositors’ houses and offices,” he said.


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