Home Business NDIC Begins Verification of 42 Failed MFBs Depositors

NDIC Begins Verification of 42 Failed MFBs Depositors

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The Nigeria Deposit Insurance Corporation (NDIC) said it has commenced the verification of depositors of the 42 Micfofinance Banks (MfB) whose operating licenses were recently revoked by the Central Bank of Nigeria (CBN).

The NDIC Director of Communication and Public Affairs, Mr Bashir Nuhu  in a statement on Monday, called on the depositors to visit their banks’ address locations for verification from Dec. 21.

Nuhu said that officials of the corporation would be on ground at the various banks to verify the claims of the depositors from Dec. 21 to Dec. 24.

Nuhu in the statement requested the depositors to visit their banks with the proof of account ownership including passbook, cheque booklet and valid means of identification to facilitate the verification.

The director listed some of the failed MFBs to include Hedgeworth MFB, Future Growth MFB, Bagwai MFB, Bagwai MFB, Ere City MFB, Cafon MFB, Akcofed MFB, Gufax MFB, Partnership MFB, ICB MFB, Onima MFB and Hometrust (Nations) MFB, among others.

“The CBN revoked the operating licenses of the failed MFBs with effect from Nov. 12.

”Consequently, the corporation as the official liquidator of the banks commenced the process of closure and payment of insured sums to verified depositors of the banks,” he said.

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