FinanceNews

NDIC Liquidates 500 Deposit Money, Microfinance Banks

NDIC Liquidates 500 Deposit Money, Microfinance Banks

The Nigeria Deposit Insurance Corporation (NDIC) has said that it has liquidated at least 500 deposit money, microfinance, and primary mortgage banks.

According to PEOPLES GAZETTE, the banks liquidated are those banks whose licences were revoked by the Central Bank of Nigeria (CBN). Information Guide Nigeria

PEOPLES GAZETTE reports that this was disclosed by Galadima Gana, the Director, Insurance and Surveillance Department of Nigeria Deposit Insurance Corporation (NDIC) while settling the liquidation dividends of depositors of the banks.

Read Other Top News:

In a report filed by PEOPLES GAZETTE, Mr Gana said that the corporation had closed 325 MFBs, 50 PMBs, and 49 DMBs whose licences were revoked by the CBN with minimal effects on the stability and confidence in the banking sector. Jamb Result

In addition, the Managing Director of the NDIC, Bello Hassan stated, ”One of our mandates is also to liquidate licence deposit institutions whose deposit has been revoked by the CBN. So you have various categories that are currently in liquidation, the Deposit Money Banks (DMBs), Micro Finance Banks (MFBs), and Primary Mortgage Banks (PMBs).

“As liquidator, what we do immediately there is (a) revocation of licence is to pay the maximum insured amount.”

“ NDIC will proceed to recover the loans and advance granted by the liquidated institutions before revocation and also realise the assets left behind so that we can pay it to the depositors.

“We only pay the maximum insured amount at the point of liquidation then, subsequently, begin to pay depositors and after that, we wind up, but the payment is currently ongoing.“

Check and Confirm: How much is Dollar to Naira Today           Pounds to Naira Today



🤑 Start making money from home today!

👉 Get correct FREE TIPS and Guides on how to make money from home today. Click here to start

.

.

👍Showcase your business here!

With over 1M unique users per month across all channels, we have a large audience for you to showcase your products and services. Simply get in touch via 👉 marketing@Infoguidenigeria.com.

 

🤑 Make Money now!

👉 Make money writing for us. Apply for Freelance writing jobs in Nigeria.

👉 Make Money as InfoGuideNigeria Advertising Agents, read more here

 

✍️ Be Our Guest Publisher!

Do you have a press release, breaking news,  or any other helpful information to share with our growing readers? If yes, send your article to 👉 infoguidepr@gmail.com.

We will be glad to publish it if the information is useful to our audience.

.

This post can be helpful to somebody else, please share it on Facebook, Whatsapp, Telegram and Twitter. There are buttons below for this (easy to use too)!


Copyright Warning!

Contents on this website may not be republished, reproduced, redistributed either in whole or in part without due permission or acknowledgment.
.
Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,.
.
All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA).
.
We publish all contents with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us at [infoguidenigeria@gmail.com] to file a complaint and we will take necessary actions immediately.

Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button