NDIC Directs Depositors of Liquidated Banks to File Claims

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Ibrahim Shuaibu in Kano

The Managing Director of Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umar Ibrahim has called on depositors who lost their money in liquidated banks to file their claims through the zonal offices of the corporation or any of the 10 banks appointed for the payment across the nation.

Ibrahim, who spoke on Wednesday in Kano through the Director of Assets Management, Alhaji Bashir Umar at NDIC Special Day during the ongoing 37th Kano International Trade Fair, named the appointed banks to include First Bank of Nigeria, United Bank for Africa, Zenith Bank, Wema Bank, Heritage Bank, Union Bank, Fidelity Bank, Skye Bank, Unity Bank and Diamond Bank.

The NDIC boss, however, lamented the activities of ‘Wonder Banks,’ just as he warned members of the public to be wary and desist from patronizing banks which he described as fraudulent.

“I wish to sound a note of caution to discerning members of the public to beware and avoid any contact with these fraudsters as many unsuspecting public are still falling victims to the mouth-watering offers of hot returns. Members of the public are therefore advised to patronise insured banking institutions that display the NDIC stickers in their banking halls or entrances,” he said.

He added that NDIC in collaboration with Bank Customers Association of Nigeria (BCAN) recently organised a town hall meeting in Kano in recognition of the importance of the public awareness in the advocacy and engagement with all stakeholders for purpose of financial education and the role of NDIC in bank customer’s protection.

“The deposit guarantee therefore covers over 90 per cent of bank depositors while those whose deposits fall above this limit of coverage are equally entitled to the insured sum additional collection referred to as liquidation dividend realized from disposal of physical assets and debts recovery.”

According to him, “the maximum deposit insurance coverage (MDIC) per depositor per bank has progressively increased from N50, 000.00 sat inception in 1989 to its current N500, 000.00 per depositor per deposit money bank (DMB).