The Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, has announced that the corporation has enhanced its collaboration with the judiciary to accelerate the prosecution of failed financial institutions.
This partnership has led to the resolution of long-standing cases and the declaration of 100% liquidation dividends to uninsured depositors of over 20 closed banks.
Speaking at the NDIC Special Day during the 19th Abuja International Trade Fair, themed “Mobility: Options for Transport, Trade Finance, and Taxation,” Mr. Hassan highlighted the effectiveness of the collaboration. He noted that the NDIC has also implemented Alternative Dispute Resolution (ADR) mechanisms to streamline its liquidation activities and improve debt recovery efforts.
Represented by the NDIC’s Deputy Director of Communication and Public Affairs, Mrs. Hawwau Gambo, Hassan reiterated the organization’s commitment to safeguarding depositors’ funds.
He urged depositors from any closed bank, particularly those from Heritage Bank who have not yet received their payments, to come forward with necessary documentation. This includes their Bank Verification Number (BVN), proof of account ownership, identification, and alternative account details.
Hassan emphasized that claims can be submitted through various channels, including the NDIC’s website, email, and social media platforms, reinforcing the corporation’s dedication to ensuring the safety of depositors’ funds.
As the NDIC continues its efforts to protect depositors and recover debts, stakeholders remain hopeful for improved financial stability within the banking sector.
