NDIC begins verification of 42 failed MfBs’ depositors

NDIC begins verification of 42 failed MfBs’ depositors – THE Nigeria Deposit Insurance Corporation (NDIC) has commenced the closure of 42 Microfinance Banks (MfBs), which licences were revoked by the Central Bank of Nigeria (CBN) with verification of their depositors.

This was made known in a statement signed by the Director, Claims Resolution Department of the Corporation, Mrs. Nurat Ajigbewu, in Abuja on Monday.

According to the NDIC, the CBN revoked the licences of the failed MfBs with effect from November 12, 2020.

Consequently, the Corporation as the official liquidator of the banks commenced the closure and payment of insured sums to verified depositors of the banks.

Read also: CBN extends deadline for MFBs’ recapitalization to 2021-2022

In carrying out this mandate, the Corporation has requested depositors of the closed banks to visit the  banks’ addresses between December 21 and 24, where NDIC officials would verify their claims.

The statement listed the affected MfBs as Hedgeworth MfB, Future Growth MfB, Bagwai MfB, Ere City MfB, Cafon MfB, Akcofed MfB and Gufax MfB. Others are Partnership MfB, ICB MfB, Onima MfB, Hometrust (Nations) MfB, Ringim MfB, Bigthana MfB, Rogo MfB, Makoda MfB, Takai MfB, Bebeji MfB, Ajingi MfB, Garko MfB, Kangiwa MfB, Augie MfB and Mopa MfB.

Also on the list are Solid Base MfB, Ultimate Benefit MfB, Ovidi MfB, Kirfi MfB, Credit Express MfB, King Solomon MfB, Riggs MfB, Billionaire Blue Bricks MfB, Susu MfB, Wealthstream MfB, Aguda Titun MfB, Sapphire MfB, Metro MfB, Mountain Top MfB, Unyogba MfB, Wapo MfB, Ibogun MfB, Korede MfB, Ahetou MfB and Fufore MfB.

The Corporation requested eligible depositors to visit the banks’ locations with proof of account ownership such as passbook and cheque book as well as valid means of identification to enhance their verification.