The Nigeria Deposit Insurance coverage Company (NDIC) mentioned it has paid N1.48 billion to ten,312 insured depositors of 47 newly closed microfinance banks (MFBs) as a part of efforts to boost up claims agreement.
The bills, that have been made as of July 31, 2026, coated depositors of lately closed MFBs, together with Abia SME Microfinance Financial institution, Frontline Microfinance Financial institution and Goldman Microfinance Financial institution.
The advance was once disclosed because the company highlighted its achievements in claims decision all through the 2026 Buyer Carrier Week birthday party in Abuja on Thursday.
The NDIC mentioned it leveraged Financial institution Verification Quantity (BVN) validation throughout the Nigeria Inter-Financial institution Agreement Machine (NIBSS) to spot depositors and acquire selection financial institution accounts, thereby enabling quicker agreement of claims.
The company additionally mentioned it had commenced cost of insured deposits inside 3 days of licence revocation for newly closed banks.
In some other claims-resolution initiative, the NDIC mentioned it paid N1.147 billion to one,082 depositors of Union Houses Financial savings and Loans %.
It additionally paid N313.02 million to eight,248 depositors of ASO Financial savings and Loans, underscoring its efforts to cut back the time depositors wait to get admission to insured finances.
Talking on the tournament, NDIC Managing Director and Leader Government Officer, Thompson Sunday, mentioned superb provider was once now not simply about assembly expectancies but in addition about going past what was once required to create significant price for stakeholders.
He mentioned the company’s duties prolonged past insurance policies and processes to the revel in it created for other people and establishments it interacted with.
In keeping with him, the company had lately taken steps to enhance its buildings, strengthen processes, toughen collaboration and combine generation and information to make its operations extra environment friendly and responsive.
Sunday mentioned customer support was once the duty of each member of body of workers, stressing that each worker contributed to the revel in stakeholders had with the company.
He mentioned the NDIC’s dedication to professionalism, responsiveness, empathy, integrity, responsibility and excellence should proceed past the Buyer Carrier Week.
The NDIC boss mentioned the company remained dedicated to repeatedly making improvements to its products and services and strengthening the boldness underpinning Nigeria’s monetary gadget.
Sunday famous that the company’s position in deposit insurance coverage, financial institution supervision and financial institution decision remained crucial to keeping up a solid and loyal monetary gadget.
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