NDIC Declares N16bn Liquidation Dividends Payment To Depositors, Stakeholders Of 20 Banks

The Nigeria Deposit Insurance Corporation (NDIC), has declared over N16 billion in additional liquidation dividend to be paid to depositors, creditors and shareholders of 20 banks in-liquidation.

In a statement issued yesterday by Mr Bashir Nuhu, the NDIC Director, Communication and Public Affairs, the corporation said the declaration followed impressive recoveries from debtors and realisation of assets of the banks in liquidation.

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According to Mr Nuhu, the Corporation has commenced verification and payment of stakeholders covered by the declarations within 30 days, which began on Sept. 28.

He also explained that the liquidation dividend represents an amount in excess of the insured sums paid by the NDIC to depositors of a closed bank.