1.0         The Nigeria Deposit Insurance Corporation (NDIC) has called upon depositors of all banks in liquidation who are yet to file their claims to do so as the payment of claims is still in progress.

2.0         To this end, eleven (11) agents banks have been retained by the Corporation to facilitate payment to the affected depositors.  They are:

              i.                Afribank Nigeria Plc

            ii.                Bank PHB Plc

           iii.                Diamond Bank Plc

           iv.                Ecobank Nigeria Plc

            v.                Fidelity Bank Plc

           vi.                First Bank of Nigeria Plc

          vii.                Spring Bank Plc

        viii.                United Bank for Africa Plc

           ix.                Union Bank of Nigeria Plc

            x.                Wema Bank Plc

           xi.                Zenith International Bank Plc

3.0         Meanwhile, out of the total insured deposit of N5.2 billion, the Corporation has paid N3.3 billion; thus leaving a balance of N1.9 billion yet to be claimed.  Similarly, out of the total sum of N12 Billion realized from assets of the  closed banks, the sum of N6.1 billion has been paid as liquidation dividend to depositors who had their funds in excess of the insured; thus leaving a balance of N5.9 billion yet to be collected. 

4.0         The Corporation has also paid N682.8 million  to 324 creditors out of the total sum of N1.005 billion in liquidation; thus leaving a balance of N323 million yet to be claimed. The six (6) banks are Alpha Merchant Bank Limited, Amicable Bank of Nigeria Limited, Merchant Bank of Africa Limited, Nigeria Merchant Bank Limited, Pan African Bank Limited and Rims Merchant Bank Limited.

5.0         A total of 444 shareholders of three (3) failed banks have been paid the sum of N1.2 billion out of N1.5 billion; thus leaving a balance of N427.3 million yet to be collected.  The three failed banks that declared the dividend to their shareholders are Alpha Merchant Bank Limited, Nigeria Merchant Bank Limited and Pan African Bank Limited.

6.0         The Corporation is therefore calling on all the depositors and other eligible claimants who are yet to file their claims to come forward and verify their deposits from the nearest agent banks nationwide.

H. S. BIRCHI

HEAD, COMMUNICATION & PUBLIC AFFAIRS