NDIC To Begin Payment Of Liquidated MFBs Monday

Barring any last minute change in plans, the Nigeria Deposit Insurance Corporation will commence the payment of insured sums to depositors of some liquidated Microfinance Banks on October 5.

The NDIC disclosed this on Sunday in a notice seen by THE WHISTLER.

The liquidated microfinance banks announced were, Femaz Microfinance Bank and Post Service Homes Savings and Loans Ltd.

The banks were among the 85 Microfinance Banks liquidated by the Central Bank of Nigeria, under schedule 1 of the official gazette.

Their licenses were revoked due to liquidity concerns.

The Corporation said, “The Nigeria Deposit Insurance Corporation, the official Liquidator of the defunct Post Service Homes Savings and Loans Limited (in-Liquidation)..FEMAZ Microfinance Bank (in-Liquidation) is in the process of paying insured sums to the depositors of the closed bank.

“By this notice, all depositors of the bank are hereby requested to visit the defunct bank’s branches nationwide for verification of their claims with the NDIC officials from Monday 5th October 2020.”

The NDIC noted that affected depositors are to present their cheque books, passbooks, and any other proof of account ownership together with any valid means of identification and alternate account.

“Eligible depositors can also contact the representatives of the Director, Claims Resolution Department in any of the under listed NDIC Zonal Offices to file their claims or seek further clarification,” NDIC added.