NDIC seeks final claims on 23 defunct banks and MfB


The Nigeria Deposit Insurance Corporation (NDIC) has issued a final notice for payment to stakeholders, creditors and depositors of 23 defunct banks and microfinance banks in liquidation with a grace period of 21 days from Monday September 5 to Friday September 14 October 2022.

The NDIC, in a series of statements posted on its website, called on creditors, former staff and depositors of defunct banks to file their claims within the time limit or have their claims expunged, adding that “the director of the Claims Resolution Department will proceed to make a final dividend payment regardless of this claim.”

The NDIC, in the statement, informed “the general public of the final call for the declaration of dividends to depositors of these banks. Filers who do not substantiate their claim to the satisfaction of the Claims Resolution Manager within 21 days of the date of this posting will have their claims expunged.

According to the release, the deposit insurer will take on final claims from creditors of Alpha Merchant Bank, Continental Merchant Bank, Cooperative & Commerce Bank, Nigerian Merchant Bank and Rims Merchant Bank.

The NDIC further highlighted that it is in the process of paying insured and uninsured deposits as well as liquidation dividends to depositors and former staff of EuroBanc Savings & Loans, Gracefield MFB and Okporo MFB.

Other defunct banks affected include; ABC Merchant Bank Limited, Allied Bank of Nigeria, Amicable Bank of Nig. Limited, Commerce Bank, Commercial Trust Bank Limited, Eagle Bank, Financial Merchant Bank Limited, Icon Limited (Merchant Bank), Ivory Merchant Bank.

Also in the list are; Kapital Merchant Bank Limited, Mercantile Bank of Nigeria. Plc, Merchant Bank of Africa Limited, Pan African Bank Limited, Premier Commercial Bank Limited and Progress Bank of Nigeria

“We therefore advise all eligible depositors of these banks to meet with NDIC officials at any of the NDIC offices or visit the complaints page on the NDIC website at www.ndic. gov.ng for verification of their claims, from Monday, September 5, 2022 until Friday, October 14, 2022,” the statement read.


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