NDIC MD

Two and a half decades after Premier Commercial Bank was shut down, the Nigeria Deposit Insurance Corporation (NDIC) has officially commenced payment of liquidation dividends to the bank’s verified creditors. Premier Commercial Bank, once a functioning financial institution, had its operating license revoked by the Central Bank of Nigeria (CBN) in 2000. Since then, thousands of creditors have waited in limbo while the bank’s liquidation process dragged on. The bank’s liquidation process, which has been overseen by the NDIC is now entering its final stages with the settlement of outstanding creditor claims. In a public notice issued by the commission, the NDIC invited all eligible creditors to visit any of its offices nationwide from June 2 to June 27, 2025. to complete verification and claim their entitlements. To facilitate the process, claimants are required to present a recent passport-sized photograph as part of identity verification. They must also provide proof of deposit or shareholding. which could include a passbook, chequebook, certificate of deposit, or a recent bank statement confirming their status as creditors.

Sun