NDIC To Begin Payment Of Insured Deposits Of 83 CBN Liquidated PMBs, MFBs

The Nigeria Deposit Insurance Corporation (NDIC), on Saturday said it would start making the statutory maximum payments to 83 depositors of Primary Mortgage Banks (PMBs) and Microfinance Banks (MFBs).
They were part of the 186 PMIs, MFBs and Finance Companies liquidated by the Central Bank of Nigeria (CBN) on September 6, 2018, following which the NDIC assumed the role of provisional liquidator
According to a list published by the corporation, insured depositors of Bayelsa State Government-owned Transatlantic Savings Loans Limited; Ahocol Savings & Loans Limited, located in Awka, Anambra State; as well as Accord Savings & Loans Limited and Amex Savings & Loans Limited, both based in Lagos, will receive a maximum of N500,000 in insured deposits.
Lagos had eight failed MFBs on the list; Imo followed with seven; Bauchi, six; while Niger, Kogi and Anambra had five each; ahead of four by each for Cross River; Delta; and Kaduna. Oyo, Ogun, Abia and Ekiti, are home to three of the liquidated MFBs apiece, among others.
The NDIC also listed 79 MFBs, whose depositors will receive the maximum of N200,000 in insured deposits, in line with provisions of its enabling Act No. 16 of 2006.
All depositors of the affected PMBs with questions, or require further clarification in respect of their accounts in the closed banks were advised to contact any of NDIC’s zonal offices in Bauchi, Benin, Enugu, Ilorin, Kano, Port Harcourt, Sokoto and Yola, between October 8 and Thursday, 18, 2018; from 8.00am to 4.00pm.
Depositors of the affected MFBs are to contact any of the NDIC offices in Bauchi, Benin, Enugu and Kano.