NDIC to Commence Sale of Assets of the Defunct Banks

Nigeria Deposit Insurance Corporation (NDIC), has said it will commence sales of assets of the defunct banks as well as recover debts owed to them in order to pay insured customers.

NDIC managing Director, Bello Hassan, gave this assurance in a statement after the revocation of licences of the affected MFBs and PMBs by the Governor of the Central Bank of Nigeria, Godwin Emefiele.

Hassan said the corporation has put machinery in motion to commence sales of assets of the defunct banks as well as recover debts owed to them in order to declare liquidation dividends on pro rata basis to the affected depositors with claims exceeding the maximum insured sums of N200,000 for MFBs and N500,000 for PMBs.