427 Financial Institutions Liquidated By NDIC

NDIC building The Nigeria Deposit Insurance Corporation (NDIC) liquidated 427 financial institutions as at December 2019. Mr John Abiodun, the Assistant Director, Insurance and Surveillance Department, NDIC, made this known at the 2020 Finance Correspondents Association of Nigeria (FICAN) Annual General Meeting (AGM) and Forum in Abuja. Abiodun explained that the liquidated institutions comprised 51 Deposit Money Banks (DMBs), 325 Micro Finance Banks (MFBs) and 51 Primary Mortgage Banks (PMBs). Through efficient and diligent liquidation activities, he said, the corporation had successfully paid in full the deposits of the customers…

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