ADVERTORIAL:  NDIC CALLING ON DEPOSITORS, CREDITORS AND SHAREHOLDERS OF CLOSED BANKS

Nigeria Deposit Insurance Corporation (NDIC) wishes to inform the general public that payment to depositors of failed banks is still in progress.

The Corporation wishes to further state as follows:

A) DEPOSITORS
1) That out of total insured deposit of N5,240,811,394.26, the sum of N3,303,854,260.49 has so far been paid out through direct payment by the Corporation as well as through Agent Banks.

2) That out of the total sum of N12,071,000,000.00 realised from the assets of the closed banks and declared for payment by the Liquidator, the total sum of N6,123,321,609.25 has so far been paid out to the various depositors of the failed banks leaving a balance of N5,947,678,390.80 yet to be collected by the depositors.
 
3) In order to facilitate payment to depositors, the Corporation appointed some Agent Banks nearest to the branches of the closed banks to effect payment on its behalf.

4) The following are the Agent Banks retained by the Corporation for the purpose of paying depositors:

a. Afribank Nigeria Plc
b. Bank PHB Plc
c. Diamond Bank Plc
d. Ecobank Nigeria Plc
e. Fidelity Bank Plc
f. First Bank of Nigeria Plc
g. Spring Bank Plc
h. United Bank for Africa Plc
i. Union Bank of Nigeria Plc
j. Wema Bank Plc
k. Zenith International Bank Plc
 

5) Furthermore, after the banks’ consolidation exercise of year 2005, some banks were assumed under the Purchase and Assumption Resolution midwifed by the Corporation.  The  affected banks are as stated below:

CLOSED BANKS                                         ASSUMING BANKS
TRADE BANK PLC                                       UNITED BANK FOR AFRICA PLC
CITY EXPRESS BANK PLC                           UNITED BANK FOR AFRICA PLC
GULF BANK PLC                                         UNITED BANK FOR AFRICA PLC
METROPOLITAN BANK LTD.                        UNITED BANK FOR AFRICA PLC
LIBERTY BANK  PLC                                   UNITED BANK FOR AFRICA PLC
AFEX BANK PLC                                         UNITED BANK FOR AFRICA PLC
LEADBANK PLC                                          AFRIBANK NIGERIA PLC
ASSURANCE BANK PLC                              AFRIBANK NIGERIA PLC
HALLMARK BANK PLC                                ECOBANK PLC
ALLSTATES TRUST BANK PLC                     ECOBANK PLC
EAGLE BANK LTD.                                      ZENITH INTERNATIONAL BANK

B) FOR CREDITORS AND SHAREHOLDERS

6) A total number of 324 creditors have so far been paid by the Corporation in six (6) failed banks valued at N682,830,000 out of a total sum of N1,005,790,000 declared, leaving balance of N322,960,000 yet to be claimed by creditors of those banks, while 444 shareholders in three (3) failed banks were paid the sum of N1,285,650,000 out of a declared sum of N1,513,000,000.

7) The six (6) closed banks that the Corporation is still paying their creditors are:
a. Alpha Merchant Bank Limited
b. Amicable Bank of Nigeria Limited
c. Merchant Bank for Africa Limited
d. Nigeria Merchant Bank Limited
e. Pan African Bank Limited
f. Rims Merchant Bank Limited

While the three (3) closed banks that the Corporation is still paying their shareholders are:
i) Alpha Merchant Bank Limited
ii) Nigeria Merchant Bank Limited
iii) Pan African Bank Limited

8) If you are a Depositor in any of the 45 closed banks, Creditor in any of the 6 closed banks or Shareholder in any of the 3 closed banks and wish to make inquiries, you can do so through the Head Office located at:

447/448, Constitution Avenue - Phone Nos: 09/4601380/9
Central Business District                                09/6171380/9
Abuja            
 OR

Lagos Offices located at:

i) Mamman Kontagora House - ii) NITEL Building: 
23A, Marina                                Marina - Lagos
Lagos 
Phone Nos  : 01/2719010/1   Phone No. 01/2130349
   01/7736588                 
   01/7616137
   01/2801563

9) Enquiries about the activities of the Corporation can be made through the five (5) Zonal Offices as follows:

  i) Enugu Zonal Office   Phone No. 042/457292
        042/455325
        042/455101

 ii) Benin Zonal Office   Phone Nos: 052/253183
        052/257079
        052/254246
        052/877165
        052/876693
        052/876692

iii) Kano Zonal Office   Phone Nos: 064/662469
        064/662471

iv) Bauchi Zonal Office   Phone Nos: 070/98100030
070/98100037.

  v) Ilorin Zonal Office   Phone Nos: 070/98705709
031/810789