The Nigeria Deposit Insurance Corporation has commenced the payment of insured deposits to customers of the 46 microfinance banks whose operating licences were recently revoked by the Central Bank of Nigeria.
Speaking in Abuja on Wednesday, the Managing Director and Chief Executive of the NDIC, Thompson Sunday, told the News Agency of Nigeria that the reimbursement exercise was already underway. He spoke on the sidelines of the International Association of Deposit Insurers Africa Regional Committee meeting.
According to Sunday, the corporation is tapping the Nigeria Inter-Bank Settlement System and customers’ Bank Verification Numbers to credit eligible depositors directly into their alternative bank accounts, eliminating the need for them to visit NDIC offices in person.
He, however, urged depositors who do not have BVNs to report to the nearest NDIC zonal office to complete the verification process and receive their payments.
Sunday recalled that the CBN withdrew the licences of the
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