Mohammed Shosanya
The Nigeria Deposit Insurance Corporation (NDIC) says it has so far made refunds of N1. 2 billion deposits to some of the 189 Microfinance Banks (MFBs) and the four Primary Mortgage Institutions (PMIs) liquidated by the Central Bank of Nigeria (CBN).
Managing Director/ Chief Executive of NDIC, Hassan Bello,disclosed this on a sideline interview at the 2023 sensitisation seminar organised by NDIC for Federal High Court Judges in Uyo, the Akwa Ibom State capital.
He said that though the Act setting up the corporation provides that payment should be made within 30 days, it has been able to effect payment to insured depositors within seven days.
He said:”So far, we have about N1. 2 billion insured deposits to the depositors in the Microfinance Banks and Primary Mortgage Institutions (PMI).
“We are still paying but why we have not completed payment is that there are some customers that we do not have records of their BVN to identify their alternate bank accounts in other banks.”
The corporation, according to Hassan has also realized N1. 6 billion to pay creditors and depositors of the 20 commercial banks liquidated, even as plans have been concluded to pay them as quickly as possible.
Imploring depositors to come forward with information that would help in the payment of the insured depositors, he expressed satisfaction that corporation was able to achieve speedy payment within seven days .
While addressing the trainees earlier, the Managing Director/ Chief Executive of NDIC, Hassan Bello noted that the judiciary plays a critical role in resolving disputes that evolve from the revocation of banking license all through liquidation and termination of liquidation activities..
He said:”Currently the maximum claim for depositors of Deposit Money Banks, (DMBs) Primary Mortgage Banks(PMBs) Payment Service Banks(PSBs) and subscribers of Mobile Money Operators (MMOs) is N500,000 per depositor, per deposit taking institution, while Micro-Finance Banks(MFB) have a maximum coverage limit of N200, 000 per depositor, per MFB”.
