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AfricaNigeriaPress Release

NDIC commences verification of 42 revoked Microfinance Banks

By Oluwaseun Sonde

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The Nigeria Deposit Insurance Corporation (NDIC) has commenced the verification of depositors of the 42 MicroFinance Banks (MFB) whose operating licenses were recently revoked by the Central Bank of Nigeria (CBN).

In a statement signed by NDIC Director of Communication and Public Affairs, Mr Bashir Nuhu in Abuja on Monday, while called on the depositors to visit their banks’ address locations for verification from Dec. 21.

Nuhu said that officials of the corporation would be on ground at the various banks to verify the claims of the depositors from Dec. 21 to Dec. 24.

He requested the depositors to visit their banks with the proof of account ownership including passbook, cheque booklet and valid means of identification to facilitate the verification.

The director listed some of the failed MFBs to include Hedgeworth MFB, Future Growth MFB, Bagwai MFB, Bagwai MFB, Ere City MFB, Cafon MFB, Akcofed MFB, Gufax MFB, Partnership MFB, ICB MFB, Onima MFB and Hometrust (Nations) MFB, among others.


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