NDIC To Start Paying Insured Depositors Of 42 Distressed MFBs

The Nigeria Deposits Insurance Corporation (NDIC), on Friday, said it is in the process of closing 42 Micro Finance Banks (MFBs), whose licences were on November 12, 2020, revoked by the Central Bank of Nigeria (CBN), preparatory to paying their insured depositors.

In a notice via its official twitter handle, the corporation requested “that all depositors of these banks should visit the closed banks’ addresses and meet NDIC officials for the verification of their claims.”

This, it said, is expected to hold between Monday, December 21, and Thursday, December 24, 2020.

States with the highest number of affected MFBs on the list are Lagos, 9; Kogi, seven; Kano, six; and Abuja, three; while Anambra, Jigawa, Kaduna, Ondo, Rivers, Adamawa, Ogun, Osun, and Delta, had one. States noted listed included Edo, Oyo, Bayelsa, Yobe, Plateau, Nasarawa, Katsina, Ebonyi, and Abia, among others.