2022 FICAN : We’ve disburses N113.2 billion to depositors of liquidated banks -NDIC
The Nigeria Deposit Insurance Corporation, NDIC says it has paid N113.2 billion to insured and uninsured depositors of all categories of liquidated banks as of June 2022.
The Managing Director/Chief Executive of the Corporation, Bello Hassan stated this in his opening remark at the 19th edition of NDIC Workshop for Finance Correspondents Association of Nigeria (FICAN) and Business Editors with the theme, “Boosting Depositors’ Confidence Amidst Emerging Issues and Challenges in the Banking System.”
According to Hassan, the corporation has cumulatively paid N11.83 billion to over 443,949 insured depositors and over N101.37 billion to uninsured depositors of all categories of banks in-liquidation.
He noted that the payment covered a total of 467 insured financial institutions in liquidation, comprising 49 deposit money banks, microfinance banks, and 51 primary mortgage banks.
“As of June 2022, the NDIC had cumulatively paid ₦11.83 billion to over 443,949 insured depositors and over ₦101.37 billion to uninsured depositors of all categories of banks in-liquidation,” he said.
“It is most profound for me to say that, out of the 49 DMBs in liquidation, the Corporation in September 2022 declared a 100 per cent liquidation dividend in 20 of those institutions, meaning that the Corporation has realized enough funds from their assets to fully pay all depositors of the listed banks.”
He also said as of June 30, the NDIC provided deposit insurance coverage to a total of 981 insured financial institutions.
He gave the breakdown to include 33 DMBs made up of 24 Commercial Banks, 6 Merchant Banks, and 3 Non-Interest Banks (NIBs) plus 2 Non-Interest Windows; 882 MFBs; 34 PMBs; 3 Payment Service Banks (PSBs) and 29 Mobile Money Operators.
He also disclosed that the corporation as of May developed and deployed the single customer view (SCV) platform for the microfinance and primary mortgage banks, to strengthen its processes and procedure for data collection.
While assuring Nigerians that NDIC is coming up with to date policies to further prevent bank failures and as well give much impetus to safeguarding depositors interests, he explained that the platform would not only ensure the availability of quality, timely and complete data to the NDIC, but also eliminate delays often experienced in reimbursing depositors, following the revocation of institutions’ licenses by the CBN.
“The final phase of the implementation of the SCV for deposit money banks would be achieved through the incorporation of the platform’s template as part of the on-going integrated regulatory solution (IRS) being jointly developed with the CBN,” he said.
The 2022 FICAN Workshop is the 19th edition holding in Port Harcourt, the Rivers State Capital.
