The Nigeria Deposit Insurance Corporation (NDIC) has declared a final dividend of 100 percent to depositors of 14 closed deposit money banks (DMBs) as at December 2013, according to Umaru Ibrahim, its managing director and chief executive officer.
This indicates that all the depositors of those closed banks has fully recovered their deposits. Also the corporation paid liquidation dividend, which stood at N2.03 billion to 453 shareholders of Alpha, Pan African and Nigeria Merchant Bank, as at August 31, 2014.
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Ibrahim, represented by Kachollom Gang, head, strategy development department, NDIC, who spoke on Thursday on the occasion of the NDIC special day at the 2014 Lagos International Trade Fair, said a cumulative sum of N93.64 billion had been paid as liquidation dividend to 250,497 depositors with claims in excess of the insured limit as at August 31, 2014.
