The Nigeria Deposit Insurance Corporation says it has paid over N111.76bn to insured and uninsured depositors of Deposit Money Banks in-liquidation and those of microfinance banks as of September 30, 2021.
The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation, Bello Hassan, who stated these at the 2021 edition of the NDIC–Editors Forum held in Lagos on Saturday, noted that in the event of bank failure, above 97 per cent of depositors would be fully covered by the corporation. He said, “NDIC had paid a cumulative sum of N8.268bn to 443,946 insured depositors and N100.080bn to uninsured depositors of deposit money banks in-liquidation as at September 30, 2021, while N3.413bn was paid to 90,945 insured depositors of microfinance banks and N1.218m to uninsured depositors.
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