The Nigeria Deposit Insurance Corporation (NDIC) says it is set to commence payment of liquidation dividends to uninsured depositors, creditors and shareholders of 14 liquidated banks.

The affected banks are City Express Bank, All States Trust Bank, Allied Bank, Commerce Bank, North-South Bank, Cooperative and Commerce Bank and Nigeria Merchant Bank.

Others are Hilltop Microfinance Bank (MFB); Olomoyoyo MFB, Evo MFB, Ngwegwe MFB, Bekwarra MFB, Argungu MFB and Edet MFB.

The Director, Communication and Public Affairs Department, Bashir Nuhu, of the Corporation said this in a statement.

Stakeholders of eight of the closed banks are to receive their first round of liquidation dividend payments while those of the other six are to be paid additional sums due to them as part of their liquidation dividends. He advised eligible stakeholders of the banks to visit the Corporation’s offices nationwide for the verification of their claims or do so on its website.

Nuhu said the Corporation has commenced the verification of depositors of 22 MFBs whose licences were recently revoked by the Central Bank of Nigeria (CBN). The verification exercise is aimed at ascertaining the insured sums to eligible depositors.

Depositors of the affected MFBs are to visit the closed banks’ addresses where their claims would be verified by the NDIC’s officials. They could do the same via the Corporation’s portal.

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