NDIC Begins Payment of N16.18bn Liquidation Dividends To Stakeholders Of Liberty, Icon, Allstates, 17 Others

The Nigeria Deposit Insurance Corporation (NDIC), on Monday said it has started verification and payment of another N16.18bn liquidation dividends to depositors, creditors and other shareholders of 20 banks in-liquidation, in what it said follows impressive recoveries from debtors and realisation of assets of the affected banks.
The affected banks, the corporation said in a statement are: Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, Progress Bank, Merchant Bank of Africa (MBA), Premier Commercial Bank, North South Bank and Prime Merchant Bank.
Others are Commercial Trust Bank, Cooperative and Commerce Bank, Rims Merchant Bank, Pan African Bank, Fortune Bank, All States Trust Bank, Nigeria Merchant Bank and Amicable Bank in-liquidation.
The payment, it noted, is to stakeholders covered by the declarations within 30 days, starting from September 28, 2023, which it said is sequel to earlier payment of various sums which cumulatively amounted to N45.45bn as liquidation dividends in respect of the 20 banks as at July 2023
According to the statement by Bashir Nuhu, its Director, Communication & Public Affairs, the stakeholders are to visit any of the corporation’s offices closer to them, or the claims page on website, www.ndic.gov.ng to download, complete and submit the verification form with prescribed supporting documents to the dedicated email for the purpose: claimscomplaints@ndic.gov.ng.
Liquidation dividend, he said, “represents amount in excess of the insured sums paid by the NDIC to depositors of a closed bank from recoveries made from realisation of assets of failed financial institutions. It also covers amount paid to creditors and shareholders of closed bank after full payment to depositors of such defunct bank.