NDIC to begin verification exercise for depositors of 3 failed MFBs

BY CHARLES ABUEDE

The Nigeria Deposit Insurance Corporation (NDIC) will begin the claims verification of depositors of the three micro-finance banks (MfBs) whose licences were revoked by the Central Bank of Nigeria (CBN). The exercise which begins today, Monday, May 9 will stretch to Friday, May 20.

The NDIC made this announcement on its website and via its Twitter handle on Friday and stated that the exercise was to ensure the depositors of the affected microfinance banks get the necessary compensation. The NDIC listed the banks to include Gufax MfB, and Sapphire MfB, both located in Uyo, Akwa Ibom State, and ICB MfB, located in Asaba, Delta State, respectively.

According to the NDIC in a tweet, “NDIC, the official liquidator of the underlisted defunct Microfinance Banks (MFBs) whose licences were revoked, is in the process of paying insured depositors.

“Depositors of ICB MFB should come forward for verification and payment of their insured deposits at the premises of the closed bank from May 9 to 20, 2022,” the corporation said.

The deposit insurer has called on the concerned depositors to visit the closed banks’ addresses to meet with NDIC officials for the verification of their claims.

The NDIC also urged eligible depositors to also visit the corporation’s website to download the necessary claims forms while the completed forms along with scanned copies of supporting documents should be sent to the corporation via email.