The NDIC has started paying insured deposits of up to N2 million to customers of 46 microfinance banks whose licences were revoked by the CBN. Here’s how eligible depositors will get their money.
&format=webp)
NDIC Managing Director Thompson Sunday confirmed that eligible customers of the closed MFBs are receiving payouts up to the maximum insured limit of ₦2 million directly into active accounts.
&format=webp)
The Central Bank of Nigeria (CBN) revoked operating licences for 46 microfinance banks after the financial institutions failed to meet regulatory requirements aimed at protecting system stability.
&format=webp)
By leveraging customers’ Bank Verification Numbers (BVNs), the NDIC is executing direct electronic transfers to alternative bank accounts without requiring depositors to visit offices