The Nigeria Deposit Insurance Corporation (NDIC) announced on Monday its readiness to commence the disbursement of the first round of liquidation dividends to depositors and former staff of the now-defunct Peak Merchant Bank. Serving as the official liquidator for Nigeria’s failed banks, the NDIC has urged affected parties to participate in a verification exercise.
According to a press release issued by NDIC’s Director of Communication and Public Affairs, Bashir Nuhu, the verification process aims to allow former depositors of the collapsed bank to verify and confirm their account details and balances as of the bank’s closure.
Nuhu stated, “We encourage all eligible stakeholders of the defunct bank to visit any NDIC office or access the NDIC website for verification of their claims, starting from Monday, September 18, until October 16, 2023. Completed verification forms can also be submitted to the Corporation via email.”
The Central Bank of Nigeria (CBN) had, in March 2003, revoked the operating license of Peak Merchant Bank Limited. The decision was made due to allegations of the chairman’s excessive influence, who was also a significant shareholder in the bank.
