Bank liquidation: Depositors paid N6.82bn in 2012 - NDIC

By SAMUEL OYADONGHA

Yenagoa — The Nigeria Deposit Insurance Corporation, NDIC, weekend, said it paid N6.82 billion to 528,212 insured depositors of closed banks as at December, 2012.

NDIC Managing Director, Alhaji Umaru Ibrahim, disclosed this at the corporation special day at the on-going Yenagoa Trade Fair being held at Peace Park in the state capital.

The figure, he said, surpassed the amount paid for the same purpose in 2011 which stood at N6.68 billion for 527, 942 insured depositors.

According to him, the bank in 2012 paid the sum of N2.505 billion to 75,322 verified depositors of 95 of 103 closed micro-finance banks.

This, he said, was higher than what the bank paid for the same purpose in 2011 which stood at N2.249 billion for 72,062 verified depositors.

Ibrahim added that the sum of N73.58 billion had been paid as liquidation dividend to 250,209 depositors of Deposit Money Banks, (DMBs)as at December 31, 2012.

The NDIC, he noted, had declared liquidation dividends and paid general creditors of eight ‘’banks- in- liquidation’’ and erstwhile shareholders of three ‘’banks -in- liquidation,’’ the sum of N1.122bn and N1.286bn as at December 31, 2012 respectively.

Ibrahim, who was represented on the occasion by the Corporation’s Acting Zonal Controller, South- South, Mr. Samuel Dauda, noted that the broad mandate of the bank was to provide deposit guarante to depositors of insured financial institutions, banking supervision, failure resolution and liquidation.

The bank, according to him, plays a crucial role in ensuring the safety, soundness and stability of the financial system in the country.