Depositors of recently closed 42 Microfinance Banks (MFBs), got some good news as the Nigeria Deposit Insurance Corporation (NDIC) has commenced a verification exercise towards settling their outstanding claims.

The action signals the formal closure of the MFBs, whose operating licences were recently revoked by the Central Bank of Nigeria (CBN). T

he Director, Claims Resolution Department of the Corporation, Mrs. Nurat Ajigbewu, who made the disclosure in a statement noted that the CBN revoked the operating licences of the failed MFBs with effect from Thursday November 12, 2020. “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.  

“In carrying out this mandate, the Corporation has requested all depositors of the closed banks to visit the respective banks’ addresses from Monday 21st Thursday 24th December, 2020 where NDIC officials would be on ground to verify their claims”, she stated.