We’ve started paying depositors of 46 microfinance banks — NDIC
Sunday also disclosed that following the revocation of the licences of Aso Savings and Union Homes Savings and Loans banks, insured depositors were paid within 72 hours, compared with the statutory 30-day requirement and the seven-day international benchmark.…Over 700,000 Heritage Bank depositors paidBy Cynthia Alo The Nigeria Deposit Insurance Corporation, NDIC, has said that it commenced payment of depositors of the 46 microfinance banks whose operating licences were revoked by the Central Bank of Nigeria, CBN, in July.
He said: “Hitherto, we used to depend on people to come file for payment, but now, in collaboration with the Nigeria Inter-Bank Settlement System, what we do is, for every account that has a BVN, we trace your alternative account in other institutions and make payments to you automatically.
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