Tuesday, July 7, 2026

Failed Banks: NDIC publishes final dividend declaration call to depositors, creditors

The corporation said that the director would after the expiration of the date proceed to make a final dividend payment without regard to such claims.

• September 2, 2022
Nigeria Deposit Insurance Corporation (NDIC)
Nigeria Deposit Insurance Corporation (NDIC)

The Nigeria Deposit Insurance Corporation (NDIC), has published a final dividend declaration notice to depositors of 20 failed banks.

The NDIC also published a final dividend declaration notice to creditors of five banks in-liquidation.

The notice published on the Corporation’s website on Friday, listed the banks to include ABC Merchant Bank Ltd., Commercial Trust Bank Ltd. and Continental Merchant Bank Plc.

Others are Merchant Bank of Africa Ltd., Pan African Bank Ltd., Kapital Merchant Bank Ltd., Eagle Bank and Allied Bank of Nigeria, among others.

The Corporation also listed creditors’ banks to include Cooperative & Commerce Bank, Nigerian Merchant Bank, Rims Merchant Bank, Alpha Merchant Bank and Continental Merchant Bank.

NDIC said depositors and creditors who did not establish their claims to the satisfaction of the Director, Claims Resolution Department within 21 days from the date of the publication, would be expunged.

The corporation said that the director would after the expiration of the date proceed to make a final dividend payment without regard to such claims.

“NDIC, the official liquidator of the under-listed defunct banks (in-liquidation), hereby notifies the general public of the final call for dividend declaration to depositors, creditors of these banks.

“We, therefore, advise all eligible depositors and creditors of these banks to either meet NDIC officials in any of the NDIC Offices.

“They can also visit the claims page on NDIC website on www.ndic.gov.ng for the verification of their claims, commencing from Sept. 5 till Oct. 14,’’ the corporation said.

The corporation also said it was in the process of paying insured and uninsured deposits to depositors of Eurobanc Savings and Loans, Grace field Microfinance Bank and Okporo Microfinance Bank(MFB).

It said it was also in the process of paying liquidation dividends to the depositors and ex-staff of MFBs. 

(NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

farmers

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Electricity cables

Lagos

Epe residents hail FG over improved electricity supply 

Mr Ajibade said the improved electricity supply enabled him to expand his business operations beyond maize processing into other profitable ventures.

The Independent National Electoral Commission (INEC)

States

INEC assures persons with disabilities of inclusion in Nasarawa electoral activities 

The REC also reminded residents that the ongoing continuous voter registration (CVR) had been extended from July 10 to July 26.

Courtroom

Lagos

Six men on trial over alleged phone theft, assault at Agege Train Station

Magistrate Lateef Owolabi admitted each defendant to bail in the sum of ₦300,000 with one surety in like sum.

Artifical intelligence

NationWide

Experts advise journalists on ethical use of AI

The lead facilitator, Silas Jonathan, said that AI should be seen as a tool that enhances journalism rather than replaces journalists.

LEGISLATIVE GAVEL

Heading 5

Ekiti footballer bags one-year jail term for stabbing opponent with jagged bottle 

The court, however, gave the convict an option of N5,000 fine on count one, and N2,000 fine on count two.