NDIC reveals how customers of 46 failed banks can claim their money

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NDIC has started reimbursing depositors after the closure of 46 microfinance banks nationwideOludare Sunday confirms ongoing payments and efforts to recover loans and assets by debtors of the failed banksOver 700,000 Heritage Bank customers have already received their insured funds via their BVN-linked accounts

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 commenced the reimbursement of depositors affected by the recent closure of 46 microfinance banks, assuring customers that efforts are underway to ensure every eligible depositor receives their insured funds.

The development follows the revocation of the banks’ operating licences by the Central Bank of Nigeria (CBN), which subsequently appointed the NDIC as the provisional liquidator of the failed financial institutions.

NDIC reveals plans to pay customers of 46 failed microfinance banks nationwide. Credit: NDIC
Source: Original

NDIC begins payments to depositors

Speaking during a retreat for members