NDIC Disburses N1.48 Billion to 10,312 Depositors of Failed Microfinance Banks

The Nigeria Deposit Insurance Corporation (NDIC) has paid N1.48 billion to 10,312 depositors of 47 microfinance banks whose licences were revoked by the Central Bank of Nigeria. The payments were made as of July 31, 2026, according to NDIC Managing Director Thompson Oludare Sunday. The payout was facilitated by Bank Verification Number validation through the Nigeria Inter-Bank Settlement System to identify affected depositors and locate their alternative accounts. Sunday spoke at the 2026 Customer Service Week celebration in Abuja, where he emphasized service excellence, technology, and stronger processes for depositor protection.

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