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NDIC warns Nigerians against transactions with revoked microfinance banks following CBN’s massive closureNDIC assumes role of liquidator to ensure orderly liquidation and protect depositors’ interestsVerification process for insured deposits has begun, with updates to follow for affected customers
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Nigeria Deposit Insurance Corporation (NDIC) has issued a strong warning to depositors and the general public following the revocation of the operating licences of 46 microfinance banks by the Central Bank of Nigeria (CBN).
The agency urged Nigerians to avoid carrying out any form of transaction with the affected financial institutions, stressing that the banks have ceased operations and are no longer legally permitted to offer banking services.
Raymond Omachi-led NDIC sends a critical message to Nigerians after the CBN revokes licences of 46 MfBs Credit; NDICSource: Original
The warning comes barely a day after the CBN
