NDIC pays N1.48bn to 10,312 depositors of 47 closed MFBs

The Nigeria Deposit Insurance Corporation (NDIC) has paid N1.48 billion to 10,312 insured depositors of 47 recently closed microfinance banks. Managing Director Thompson Sunday disclosed this in Abuja during the NDIC's 2026 Customer Service Week celebration. The payments, made as of July 31, 2026, covered depositors of banks including Abia SME Microfinance Bank, Frontline Microfinance Bank and Goldman Microfinance Bank. The Corporation used the Bank Verification Number system to identify depositors and obtain alternative bank accounts, which simplified and accelerated the payment of claims.

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