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BAYELSA NEWS: Bank liquidation: NDIC pays depositors N6.82b in 2012

LEGISREPORTS NG – The Nigeria Deposit Insurance Corporation (NDIC), says it paid the sum N6.82billion to 528,212 insured depositors of closed banks as at December, 2012.

Managing Director of the bank, Alhaji Umaru Ibrahim, disclosed this at the NDIC Special Day at the on going Yenagoa Trade Fair being held at Peace Park in the state capital.According to him, the figure above surpassed the amount paid for the same purpose in 2011 which stood at N6.68b for 527, 942 insured depositors.Also he said the bank in 2012 paid the sum of N2.505billion to 75,322 verified depositors of 95 out of 103 closed Micro Finance Banks.

This he noted was higher than what the bank paid for the same purpose in 2011 which stood at N2.249billion for 72,062 verified depositors.In the same vein, the Managing Director said that the sum of N73.58billion had been paid as liquidation dividend to 250,209 depositors of Deposit Money Banks,(DMBs)as at December 31, 2012.He added that NDIC had declared liquidation dividends and paid general creditors of eight ”banks- in- liquidation” and erstwhile shareholders of three ”banks -in- liquidation”, the sum of N1.122billion and N1.286billion as at December 31, 2012 respectively.

The MD who was represented at the occasion by the Corporation’s Acting Zonal Controller, South- South, Mr. Samuel Dauda stressed that the broad mandate of the bank was to provide deposit guarante to depositors of insured financial institutions, banking supervision,failure resolution and liquidation.According to him, the bank plays a crucial role in ensuring the safety, soundness and stability of the financial system in the country.

He said that the participation of the Corporation in the Yenagoa Trade Fair was informed by the its commitment to reach out to its customers in the quest to enhance public awareness on the mandate of the Corporation.He used the occasion to call on the public to avail themselves of the Help Desk (08063424357) established by the Corporation and report any observed infraction by banks in their daily transactions.

This report was prepared by our reporter in Yenagoa

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