NDIC Begins Selling Properties of Failed Bank, Names Customers Who Can Claim Benefit [Video]

• Depositors with balances over N5 million would receive their liquidation payouts, according to the NDIC
• The NDIC remains committed to protecting depositors from the adverse effects of bank collapses
• In unexpected times, the NDIC reduces the likelihood of bank runs and fosters trust in the banking sector

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The Nigeria Deposit Insurance Corporation (NDIC) said depositors with balances exceeding N5 million will also be paid from their liquidation dividends.

The managing ddirector and chief executive, Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan made this known on the occasion of NDIC’s special day at the ongoing 45th Kano International Trade Fair.

He said,

“Having largely reimbursed depositors their insured deposits, the corporation is committed to ensuring that depositors with balances exceeding N5 million are also paid the balance of …