Abuja: The Nigeria Deposit Insurance Corporation (NDIC) said there was no sign that Afribank, Spring and Bank PHB would sign Transaction Implementation Agreement (TIA) with any core  investor before the Sept. 30 deadline.

Alhaji Umaru Ibrahim, NDIC Managing Director told newsmen in Abuja on Monday that it was part of what informed the decision to take the banks over.

“We believe that since they have not been able to sign irrevocable if you like, the Transaction Implementation Agreement, up to this moment they will not be able to make it.

“And if we wait until that deadline, the bank will be more than dead.’’

Ibrahim said that with the take-over, the future of the banks was bright adding that the new banks’ boards were constituted to ensure that the transactions were done properly.

According to him, there is every prospect that good core investors that know what it takes in the banking industry will buy over the banks.

He added that with AMCON taking over too, the Commission would continue to monitor the situation.

“The banks are insured. We will continue to monitor them and we will continue to examine them both on site and off site in a very comprehensive manner just like the other banks to make sure that they play by the rules,’’ he said.

He assured depositors not to worry saying: “All depositors are well protected and if you are a depositor of those banks, you can go there and try and see that the money is there.’’

The NDIC and the CBN on Friday announced the takeover of the three distressed banks.

Meanwhile mixed reactions have trailed the decision and some of the stakeholders said that the takeover was necessary to save the banks from more financial crises. Others believed that the decision will further erode investors’ confidence in the banking sector. (NAN)