‘NDIC Has Paid N105bn to Depositors of Failed Banks’

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Ibrahim Shuaibu in Kano

The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim on Thursday in Kano disclosed that the corporation had so far paid N105 billion to 442, 615 depositors of closed deposit money banks (DMBs) at the end of September 2017.

Similarly, the corporation paid a cumulative sum of N2.88 billion to 525, 009 Depositors of closed Microfinance banks (MFBs), as well as N60 million to 756 depositors of closed Primary Mortgage Banks (PMBs).