The Nigeria Deposit Insurance Corporation(NDIC), a parastatal under the Nigerian Ministry of Finance, has recovered customers deposits in 20 failed banks. Bello Hassan, the NDIC’s managing director/CEO disclosed this while speaking at the Abuja International Trade Fair.
Leadership reports that Hassan described the recovery as NDIC fulfilling its promise of protecting depositors in the event of bank failures.
The MD of NDIC, who was represented by the director of corporate services, Nuhu Bashi, also pledged complete payment to consumers who come forward to claim their stranded cash in the banks.
His words:
“The implication of this is that, through our dogged liquidation activities, the corporation has realised enough funds to fully pay all depositors of the banks.”
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