National Deposit Insurance Corporation (NDIC) has assured depositors not to fear depositing their monies in the banks in the face of current naira swap challenges, stressing that all legitimately deposited monies in the banks are safe.
This is even as the Corporation called on the depositors and creditors of 30 closed microfinance, primary mortgage, and deposit money banks to come for verification and payment of the excess of their guaranteed sums.
Managing director/ chief executive of NDIC, Malam Bello Hassan stated this on Thursday during the NDIC Special Day at the 44th Kaduna International Trade Fair.
Hassan, who was represented by the manager, Communications and Public Affairs Unit, Tanko Ibrahim Yahaya, noted that the Corporation has realised enough funds to pay all depositors and creditors of the closed banks, adding that the deposit money banks, primary mortgage banks, the payment service banks and mobile money operators are all insured up to N500,000 per depositors per bank, while those of microfinance banks are insured up to N200, 000 per depositor per bank.
“Recently, the Corporation repeated it’s call to depositors of 20 closed banks on which it has declared full (i.e 100%) liquidation dividends to come forward for verification and payment of their deposits that are in excess of the guaranteed sums. The implication of this is that through our dogged liquidation activities, the Corporation has realised enough funds to fully pay all depositors of the closed banks.
“Similar notices were also sent to creditors of seven DMBs in liquidation as well as depositors and ex-staffs of two MFBs and a PMB, details of which are still available on our website and social media handles. I call on depositors, creditors and shareholders of the listed closed banks to avail themselves of the verification platforms provided by the Corporation to claim their funds.
“We are happy to notify the general public that the Corporation has won the court case versus shareholders of the defunct Fortune Bank International, hence all depositors of the defunct bank can now visit our offices across the country to file their claims for the purpose of reimbursement of their trapped deposits in the bank or use the other channels.
“The Corporation protects depositors through the discharge of its mandate in four critical ways namely: by guaranteeing deposits in banks; by supervising the banks in conjunction with the Central Bank of Nigeria (CBN) to ensure that they are run in efficient manner in line with extant laws and regulations; by resolving issues of distressed banks to reduce instances of failure; and ensuring orderly and efficient liquidation of failed banks to prevent disruptions to the payment system.
“Apart from depositors of Deposit Money Banks (DMBs), Primary Mortgage Banks (PMBs) and Microfinance Banks (MBs), the Corporation has also been responsive by extending deposit insurance coverage to depositors of Non-Interest Banks (NIBs), Payment Service Banks (PSBs) and subscribers of Mobile Money Operators (MMOs).”
“Depositors of DMBs, PMBs, PSBs, and subscribers of MMOs are insured up to a maximum limit of N500,000.00 per depositor per bank, and those of MBs are guaranteed up to a maximum limit of N200,000.00 per depositor per bank.
Speaking on the theme of the fair, “Promoting Value Addition for Sustainable Growth and Development” the Kaduna Chambers of Commerce Industry, Mines and Agriculture (KADCCIMA)President who was represented by Council member and former Minister of Environment, Hajiya Hadiza Ibrahim Mailafiya said “Nigeria lose millions of dollars to non addition of value on our productions and exports”, adding that there is need for stakeholders to come together and see how they can engender value addition to products in the country.
