The Nigeria Deposit Insurance Corporation (NDIC) has stepped up its mandate that depositors of failed banks and micro-finance banks should be paid their money fast.
The Corporation commenced an inspection on 93 banks designated to pay depositors of failed banks and is also seeking to confirm if the payment has been carried out.
According to NDIC, “It would assess and ensure that payments of both insured and uninsured deposits remitted to the banks are made to the depositors of the closed banks without fail or hindrance”.
Hadi Birchi, the head of communications and public affairs in a statement said the inspection is also to enable the NDIC identify and address areas of challenges faced by the agent banks, that may hinder them from making payment to depositors of the closed banks and to further train the desk officers in charge of payment where the need arises.
The inspection tour is also expected to help the corporation “ensure that the banks properly keep the payment documents forwarded to them by the corporation such as mandate files, signature cards, liquidator’s certificates, deposit registers, to ensure that payment to the depositors are not impeded by the absence of these records”.
He also added that 27 branches would be visited in the south-west, 24 in north-central and 13 in the south-south, the corporation would visit 15 branches in the south-east, 8 in the north-east and 6 in the north-west zones.