Failed banks: Nigeria appoints 10 agents to collect depositors’ claims

NDIC building

The Nigeria Deposit insurance Corporation (NDIC) has called on depositors who lost their money in any closed banks to file their claims through appointed 10 agent banks nationwide.

The Managing Director of the Corporation, Umaru Ibrahim, made the call on Wednesday in Kano at NDIC’s Special Day at the ongoing 37th Kano International Trade Fair.

According to him, the appointed agent banks include First Bank of Nigeria Plc, United Bank of Africa, Zenith Bank and Wema Bank.

Others are Heritage Bank, Union Bank, Fidelity Bank, Skye Bank, Unity Bank and Diamond Bank.

Mr. Ibrahim said in addition, depositors could also file such claims at any of its Zonal offices located across the country for the payment of such claims.

He said the corporation had also extended deposit insurance coverage to the subscribers of non-interest banking institutions under the Shari’ah compliant banking services to the maximum limit of N500, 000 per depositor.

In addition, Mr. Ibrahim said the corporation had developed framework on Pass-Through Deposit Insurance Scheme (PTDIS) to protect subscribers of Mobile Money Operators (MMOs) with a maximum insured limit of N500,000 per subscriber of the banking product.

He, however, noted that the activities of illegal funds managers popularly known as ‘wonder banks’ had continued to thrive in recent times.

“I wish to once again sound a note of caution to discerning members of the public to beware and avoid any contact with these fraudsters.

“This is because many unsuspecting public are still falling victims of to the mouth-watering offers of hot returns,” he said.

Mr. Ibrahim advised members of the public to patronise only insured banking institutions that display the NDIC stickers: “Insured by NDIC” in their banking halls or entrances.

He said NDIC had established a toll free telephone line: 080063424357 with 24-hour help desk which depositors could make inquiries.

“They can also lay their complaints of any sharp practices perpetrated by banks and seek redress,” he added. (NAN)


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