The Nigeria Deposit Insurance Corporation (NDIC), has declared an additional over N16 billion as liquidation dividend to be paid to depositors, creditors and shareholders of 20 banks in-liquidation.
In a statement issued by Bashir Nuhu, the Director, Communication and Public Affairs of NDIC in Abuja on Monday, the corporation said the declaration followed impressive recoveries from debtors and realisation of assets of the banks in liquidation.
He said the Corporation had commenced verification and payment of stakeholders covered by the declarations within 30 days, which started from September 28.
Nuhu listed the closed banks covered by the exercise to include Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank and Progress Bank.
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