BREAKING: Tension As Nigerian Government Releases List of 20 Closed Banks, Asks Depositors to Retrieve Their Money
This brings the total liquidation dividends to N61.63 billion, exceeding insured sums for depositors of these banks.
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Nigerian Government Releases List of 20 Closed Banks, Asks Depositors to Retrieve Their Money
The Nigeria Deposit Insurance Corporation (NDIC) has released the names of 20 failed banks whose depositors, creditors, and shareholders are set to receive an additional N16.18 billion in liquidation dividends.
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This brings the total liquidation dividends to N61.63 billion, exceeding insured sums for depositors of these banks.
Contrary to recent reports suggesting the closure of new banks in Nigeria, the NDIC clarified that the 20 banks in question had previously shut down due to the revocation of their operating licenses by the Central Bank of Nigeria (CBN) between 1994 and 2018.
Bashir Nuhu, the Director of Communications and Public Affairs at NDIC, debunked the rumors during a statement in Abuja on November 13, 2023.
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The liquidated banks are as follows:
1. Liberty Bank
2. City Express Bank
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3. Assurance Bank
4. Century Bank
5. Allied Bank
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6. Financial Merchant Bank
7. Icon Merchant Bank
8. Progress Bank
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9. Merchant Bank of Africa (MBA)
10. Premier Commercial Bank
11. North-South Bank
12. Prime Merchant Bank
13. Commercial Trust Bank
14. Cooperative and Commerce Bank
15. Rims Merchant Bank
16. Pan African Bank
17. Fortune Bank
18. All States Trust Bank
19. Nigeria Merchant Bank
20. Amicable Bank
NDIC’s communication also added that the additional payment resulted from recoveries from debtors of the liquidated banks.
Depositors
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