NDIC begins verification of 42 failed MFBs depositors

NDIC begins verification of 42 failed MFBs depositors

The Nigeria Deposit Insurance Corporation (NDIC) says it has commenced the verification of depositors of the 42 MicroFinance Banks (MFBs), whose operating licences were recently revoked by the Central Bank of Nigeria (CBN).


A statement by Mr Bashir Nuhu, NDIC’s Director of Communication and Public Affairs, in Abuja on Monday called on the depositors to visit their banks’ address locations for the 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.


He 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 process.


The director said that some of the failed MFBs included 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 licences 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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