NDIC Reimburses Depositors of Rested Banks

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The Nigeria Deposit Insurance Corporation (NDIC) has announced the reimbursement of depositors affected by the closure of 179 microfinance and four mortgage banks nationwide.

Dr. Bello Hassan, Managing Director of NDIC, disclosed this during the NDIC Special Day at the 45th Kaduna International Trade Fair, emphasizing the corporation’s commitment to safeguarding depositors’ funds in distressed banks.

The corporation has also intensified collaboration with the judiciary to facilitate the swift prosecution of failed insured banks, resolving long-standing cases such as Fortune and Triumph Banks liquidation.

Hauwa Gambo, NDIC’s Deputy Director of Communication, reiterated the importance of depositors utilizing the corporation’s initiatives to claim funds trapped in closed banks.

Source: Business Day

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