By Chika Otuchikere, Abuja
The Nigeria Deposit Insurance Corporation NDIC, has commenced the verification of insured depositors of the defunct Peak Merchant Bank.
This is in line with its mandate of deposit guaranty and reimbursement of depositors in the event of bank failure, in-liquidation towards payment of their insured sums.
According to a statement signed by the Director, Communication and Public Affairs, NDIC, Bashir Nuhu, on Sunday, the verification exercise would enable depositors of the defunct bank to cross-check and ascertain their account information as well as balances with the bank as at closure.
The statement further noted that the process is a prelude to the payment of insured sums to such depositors.
“Depositors are therefore enjoined to visit the bank’s old premises or the Corporation’s office nearest to them with proof of account ownership and verifiable means of identification for the exercise,” NDIC stated.
The corporation added that insured sum is the first and mandatory payment that depositors are paid, up to specified limit, if a bank fails.
Depositors are paid amounts in excess of the insured sums subsequently, as liquidation dividends from proceeds of the closed bank’s assets as realised by NDIC as liquidator.
