The Managing Director of Nigeria Deposit Insurance Corporation (NDIC), Mr Bello Hassan has called on depositors, creditors and shareholders of closed banks to avail themselves of the verification platforms provided by the corporation and claim their funds.
He made the call at the NDIC Special Day of the ongoing 17th Abuja International Trade Fair, organised by the Abuja Chamber of Commerce and Industry
(ACCI), with the theme “creating an export ready market through SMEs
digitization,”
Represented by the Director of Communication and Public Affairs Department, Mr. Bashir Nuhu, the MD pointed out that NDIC realised enough funds to fully pay all depositors of the banks through unwavering commitment to the liquidation activities,
He said that the corporation sent repeated notices to those affected adding that the details of the notices are available on its website and social media handles.
“They are at liberty to visit any of the corporation’s nearest offices physically or utilise the NDIC App online or visit the claim page on our website: www.ndic.gov.ng, to expedite processing of their claims,” he stated
The affected banks are ABC Merchant Bank Limited; Allied Bank of Nigeria; Alpha Merchant Bank Plc.; Amicable Bank of Nig. Limited; Commerce Bank; Commercial Trust Bank Limited; Continental Merchant Bank Plc.; Cooperative & Commerce Bank Plc.; Eagle Bank; Financial Merchant Bank Limited; Icon Limited (Merchant Bank);
lvory Merchant Bank; Kapital Merchant Bank Limited; Mercantile Bank of Nig. Plc.; Merchant Bank of Africa Limited; Nigeria Merchant Bank Plc.; Pan African Bank Limited; Premier Commercial Bank Limited; Progress Bank of Nigeria; Rims Merchant Bank Limited.
Mr Hassan maintained that NDIC has been effectively and efficiently discharging its mandates from inception till date, living up to its public policy objectives of contributing to financial system stability.
He revealed that the corporation protects depositors through discharging its mandate in four critical ways:
"guaranteeing payment in the event of bank failure; resolving distress to reduce instances of failure; supervising the banks in conjunction with the Central Bank of Nigeria (CBN) to ensure that they are run in an efficient manner in line with extant laws and regulations and through orderly and efficient liquidation of failed banks to prevent disruptions to the payment system".
Speaking further, he congratulated the executives and members of ACCI for more efforts at supporting the government in promoting trade and investment across all sectors of the nation’s economy.
He said that the corporation’s participation in the exhibition over the years has enabled it to continuously sensitise depositors, other stakeholders and the public about the existence, benefits and limitations of the Deposit Insurance Scheme (DIS).
This is “important to us since the populace confidence in the financial system can only be enhanced when they are aware that their deposits are protected and that in the unlikely event of failure of their banks, there is an agency of government that would always have their back" he said.
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