The Nigeria Deposit Insurance Corporation, NDIC, has paid the sum of N 101. 568 billion to depositors of failed Deposit Money Banks, DMB, in the country.

The Managing Director, MD, of the corporation, Alh. Umaru Ibrahim, disclosed this, yesterday, at the on-going 10^th Abuja International Trade Fair.  His address was delivered by the corporation’s Deputy Director, Strategy Development Department, Mr. Stanley Balogun.

According to him, the amount represented insured deposits which stood at N 6. 831 billion and uninsured deposits of N 94. 737 billion, as at the end of December, last year.

His words, “The Corporation recorded great achievements in its mandate of deposit guarantee and supervision. As at December 31st 2014 the NDIC had paid out a cumulative sum of N6.831 billion insured deposits 528,277 depositors of 49 closed deposit money banks. The Corporation had paid a cumulative liquidation dividend of 94.737 billion to 250,592 un-insured depositors of 49 closed DMBs as at December 31st 2014. Also, the Corporation ad declared in full, a final liquidation dividend of 100 percent of total deposits in 14 failed banks out of the 49 closed DMBs while payments are on- going for the depositors of failed MFBs and PMBs.”

Alh. Ibrahim, said that the organization would build on the past successes with a view to reaching out to more depositors who were yet to take advantage of NDIC’s services and urged depositors of failed banks who have not been paid to visit the NDIC and get paid.

“This year, the NDIC hopes to build on these successes by reaching to members of the general public. Therefore, I use this ample opportunity to call on all and sundries whose deposits   are trapped in any failed banks to visit NDIC pavilion to receive      information on how to recover and claim such deposits,” he said.