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Depositors yet to claim failed banks’N25bn – NDIC

By BusinessNews Staff on November 25, 2014

Depositors have yet to claim about N25bn recovered from the 48 failed banks in the last 25 years, the Nigerian Deposit Insurance Corporation has said.

The Managing Director, NDIC, Alhaji Umaru Ibrahim, who disclosed this at a sensitisation programme for stakeholders in Ado-Ekiti, said about N102bn had been paid to depositors over the period.

According to him, of the N25bn, the insured amount is in excess of N5bn while the uninsured amount is in excess of N20bn.

Answering questions from journalists, Ibrahim, who was represented by a Deputy Director, Mr. Bello Shittu, said, “We are worried about depositors whose monies are trapped in banks and they have refused to file their claims.

“As an organisation, we have been asking those concerned to come but many have refused. In the last 25 years, we have had cause to liquidate 48 banks and we have paid over N102bn to depositors, both insured and uninsured. We still have billions of naira waiting for depositors to collect.

“We think that by coming to discuss this with the people, they will know more about our services and take more of the advantages we have created, in order to bring succour to the people whose deposits were trapped in banks.”

Shittu who also advised Nigerians to keep their money in banks to avoid losing it to burglars, fire, floods and other risks, added that the commission sometimes paid beyond the insured N200,000 for microfinance and mortgage banks, and N500,000 for commercial banks.

He said, “If your banks have problems, come and file claims we have set aside money for that. We are even paying beyond the insured amount. When we realise the assets of the banks, we share it.”

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