The Nigeria Deposit Insurance Corporation (NDIC) has announced that it will be disbursing N16.18 billion in liquidation dividends to depositors, creditors, and shareholders of 20 liquidated banks.
This comes following successful recoveries from debtors and the realization of assets. The verification and payment process for eligible stakeholders commenced on September 28, 2023, and will be completed within 30 days.
Prior to this announcement, the NDIC had already disbursed various sums totaling N45.45 billion as liquidation dividends for the same 20 banks by July 2023.
To participate in the verification process, stakeholders are encouraged to either visit their nearest NDIC office or access the claims page on the Corporation’s website. They must complete and submit a verification form along with the required supporting documents to a dedicated email address for this purpose.
The 20 liquidated banks covered by this exercise include Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, Progress Bank, Merchant Bank of Africa (MBA), Premier Commercial Bank, North South Bank, and Prime Merchant Bank. Additionally, 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 are also part of this liquidation dividend distribution process.
