NDIC appoints 30 agents to recover debts in liquidated microfinance banks

Finance Minister, Ngozi Okonjo-Iweala

The Nigeria Deposit Insurance Corporation (NDIC) has released the list of 30 agents it has appointed to recover debts owed by various customers of the 103 liquidated microfinance banks (MFBs) in the country.

The NDIC said today that the appointment of the agents was aimed at fast-tracking the debt recovery process from the defunct banks.

A breakdown of the appointments indicates that 21 recovery agents have been assigned to cover 68 closed MFBs in Lagos State, while three are to handle the assignment in six MFBs in Rivers state and two in four closed MFBs in Ogun States.  

One agent has been mandated to pursue debtors in four closed MFBs in Oyo State, while one each is to oversee three MFBs each in Edo State and the Federal Capital Territory (FCT).  

Similarly, Delta and Enugu States have one recovery agent each for two closed MFBs, while Osun State has one recovery agent for one closed MFB.

Head of Communications/Public Affairs, Hadi Birchi, said about N102.6million has so far been realised from the sale of physical assets as well as drives to recover loans and advances owed to the 103 closed microfinance banks.

Of the amount, Mr. Birchi said about N86.49 million was realised from the sale of chattels, while N16.11million came from debts recovered from various categories of debtors to the affected banks. In sum, the corporation has recovered a cumulative sum of N22.263billion owed 34 banks in liquidation between 1994 and December 31, 2011.

“All debtors to the 103 closed MFBs must come forward to settle their debts or face the full wrath of the law,” the NDIC warned.

Mr. Birchi said the debtors have also been advised to crosscheck the names and addresses of the recovery agents assigned to the banks they are indebted to and make necessary arrangements to offset their debts.


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