The Nigeria Deposit Insurance Corporation, NDIC, has disclosed the disbursement of N16.18 billion as liquidation dividends to depositors, creditors, and shareholders of 20 banks undergoing liquidation.
This announcement follows successful recoveries from debtors and the realization of assets of these liquidated banks. Bashir Nuhu, the Director of Communication and Public Affairs at the NDIC, conveyed this information in a statement on Monday.
The NDIC has initiated the process of verifying and distributing payments to the affected stakeholders, which is expected to be completed within 30 days, beginning on September 28.
The statement reads partly, “It is instructive to note that the ongoing payment is sequel to earlier payment of various sums which cumulatively amounted to N45.45bn as liquidation dividends in respect of the 20 banks as at July 2023.”
The banks involved in this liquidation dividend declaration include Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, Progress Bank, Merchant Bank of Africa (MBA), Premier Commercial Bank, North South Bank, Prime Merchant Bank, Commercial Trust Bank, Cooperative and Commerce Bank, Rims Merchant Bank, Pan African Bank, Fortune Bank, All States Trust Bank, Nigeria Merchant Bank, and Amicable Bank in liquidation.
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