Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umar Ibrahim, has disclosed that the corporation paid N3.303 billion out of the N5.241 billion insured deposits of 35 DMBs that were liquidated between 1994 and 2005.
He said the corporation also paid N6.151 billion out of N11.576 liquidation dividends that were declared to depositors of the 35DMBs, and paid N2.26billion to depositors of 103 closed microfinance banks (MFBs) as at 31st March, 2012.
He reiterated that since August 2011, the continuation of the payment to the depositors was transferred to eight banks across the country,which include First Bank Plc, Access Bank Plc, Unity Bank Plc, Mainstreet Bank Limited, Union Bank Plc, Wema Bank Plc, UBA Plc and Zenith International Bank Plc.
He, however, disclosed that Savannah Bank and Societe Generale Bank were not liquidated and that customers should hold them responsible for their deposits.? The NDIC director, Internal Audit, Alhaji Ibrahim Tafida, who represented the MD, said that contrary to insinuations, the two banks were not under liquidation as the NDIC takes care of only customers of banks that were liquidated.
“The Central Bank of Nigeria (CBN) withdrew the license of Savanah Bank in 2002 and the management went to court where they got back their licence.
So as far as the NDIC is concerned, the bank is still in existence. The management of the bank should be held responsible for the depositors’ money until such a time their license is withdrawn and they are put under liquidation.
“Right now they are not under liquidation and the NDIC has not taken over the bank. It is the same thing with the Societe Generale Bank which the NDIC attempted to close but the shareholders went to court and the court gave them the right to continue to manage their bank and bring it back to life.
“We liquidated 35 banks before 2005, but as at today there are 45 banks under liquidation and we have set aside funds to pay all their insured depositors.