NDIC Begins Claims Verification for Depositors of Defunct Banks

By Adedapo Adesanya

The Nigeria Deposit Insurance Corporation (NDIC) has commenced claims on verification for depositors of the three Micro Finance Banks (MFBs) and Primary Mortgage Banks (PMBs) recently closed by the Central Bank of Nigeria (CBN).

It was disclosed by the official liquidator of the banks via its official Twitter handle, @NDICNigeria, that the banks, whose licences were recently revoked, was in the process of paying the insured depositors.

The affected banks include: The Transatlantic Mortgages located in Abuja and Bayelsa; Langtang MFB; Gracefield MFB located in Plateau State; and Kaugama MFB located in Jigawa State.

The corporation then advised all depositors of these banks to visit the closed banks’ addresses and meet NDIC officials for the verification of their claims from February 3 -7, 2020.

“We therefore advise that all depositors of these banks should visit the closed banks’ addresses and meet with NDIC officials for the verification of their claims, commencing from Monday Feb., 3 till Friday, Feb. 7,” it said.

The corporation, however, called on the depositors to come with their evidences for ownership of account and verifiable means of identification.

When the operating licences of the banks were revoked by the Central Bank of Nigeria (CBN), the NDIC assumed the capacity as provisional liquidator of the banks.

Under the provisions of the Nigeria Deposit Insurance Corporation Act No. 16 of 2006, the Nigeria Deposit Insurance Corporation will pay depositors of the closed banks their insured deposits up to the statutory maximum of N500,000 for PMBs and N200,000 for Microfinance Banks.