The Nigeria Deposit Insurance Corporation (NDIC) has revealed that some customers have not received their insured deposits due to discrepancies in their information. NDIC Managing Director Bello Hassan informed newsmen in Abuja on Sunday that issues with account names and Bank Verification Numbers (BVN) are causing the delays.
Hassan explained that the corporation has successfully paid a significant amount to depositors of the defunct bank who do not have BVN-linked account issues. He encouraged those who have yet to receive their insured deposit alerts to visit the NDIC’s website and complete their verification forms to facilitate payment.
The verification process will also accommodate depositors without BVN-linked accounts. Hassan stated, “We have already commenced the payment of customers since June 6. We have paid substantial amounts to the customers.”
He further detailed the process, saying, “We leverage the BVN of customers to trace alternate accounts in other banks and pay them their insured amounts. However, some challenges arise due to discrepancies in names and other details.”
Hassan urged affected customers to complete their verification forms to resolve these discrepancies and receive their payments. “We are calling on customers who have not received their alerts in their alternate accounts to come forward and complete their verification forms so that we can pay them,” he said.
Regarding depositors with more than five million naira, Hassan mentioned they would receive liquidation dividends. He noted that the NDIC has begun disposing of the bank’s physical assets and is actively working to recover the loans and advances granted by the bank.
Hassan explained, “That is what we use in paying those liquidation dividends. We are not going to wait until we recover everything. As we recover, we will advertise to inform depositors to be on the lookout for alerts in their accounts.”
This initiative aims to ensure that all depositors receive their due payments promptly, despite initial discrepancies.
