20 banks failed: FGs tell Nigeria to come for their money

  • Nigerians who’ve financial savings in 20 failed business banks now have the chance to get well their funds.
  • The NDIC assured that no buyer funds can be misplaced and that anybody submitting claims ought to present identification
  • One of the first worries for Nigerians with financial institution accounts is their funds’ safety

The Nigeria Deposit Insurance Corporation(NDIC), a parastatal below the Nigerian Ministry of Finance, has recovered clients deposits in 20 failed banks.

Bello Hassan, the NDIC’s managing director/CEO disclosed this whereas talking on the Abuja International Trade Fair.

Leadership reports that Hassan described the restoration as NDIC fulfilling its promise of defending depositors within the occasion of financial institution failures.

The MD of NDIC, who was  represented by the director of company companies, Nuhu Bashi, additionally pledged full fee to customers who come ahead to assert their stranded money within the banks.

List of failed banks in Nigeria

The affected banks are ABC Merchant Bank Limited; Allied Bank of Nigeria; Alpha Merchant Bank Pic.; Amicable Bank of Nig. Limited; Commerce Bank; Commercial Trust Bank Limited; Continental Merchant Bank Pic.: Cooperative & Commerce Bank Plc and Eagle Bank; Financial Merchant Bank Limited.

Others are Icon Limited (Merchant Bank); Ivory Merchant Bank; Kapital Merchant Bank Limited; Mercantile Bank of Nig. Plc.; Merchant Bank of Africa Limited; Nigeria Merchant Bank Plic.; Pan African Bank Limited; Premier Commercial Bank Limited; Progress Bank of Nigeria; and Rims Merchant Bank Limited.

What ought to failed financial institution clients do?

NDIC referred to as on depositors, collectors, and shareholders of the listed closed banks to avail themselves of the verification platforms supplied by the Corporation to assert their funds, The Guardian reports.

Zenith, Gtbank lead checklist of Nigeria’s most useful banks

Meanwhile, an earlier report by showed Zenith Bank kicked off 2022 as Nigeria’s most useful business financial institution.

Guaranty Trust Bank is the second most useful financial institution, adopted by Stanbic IBTC Holdings to spherical out the highest three most valuable banks.

In addition, the mixture market cap of all of the banks below evaluation elevated by N46.6 billion to N3.84 trillion.

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