NDIC MD

The Managing Director, Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, yesterday, disclosed that the Corporation has paid N11.76billion as insured sums to 535, 815 depositors of closed banks. Hassan, who disclosed this in Abuja, at an event to mark the corporation’s special day at the 16th Abuja International Trade Fair, maintained that a total of N101.67bn has also been paid as uninsured sums as of June 30, 2021. According to the Director, N6.16 billion has been paid as a liquidation dividend to 1,955 creditors and shareholders of closed banks. He noted that the Corporation has declared full payment of insured and uninsured sums to depositors of 18 banks in liquidation. Describing the NDIC, as a critical component of the financial safety net, Hassan explained that the body took a frontline position in the protection of depositors from the loss of their savings as a result of the effect of the COVID-19 pandemic on the banking system, in collaboration with the Central Bank of Nigeria (CBN).

Guardian