Friday, February 3, 2023

NDIC begins verification of depositors of Unyogba microfinance bank

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Rayyan Alhassan
Rayyan Alhassan
Rayyan Alhassan is a graduate of Journalism and Mass Communication at Sikkim Manipal University, Ghana. He is the acting Managing Editor at the Daily Nigerian newspaper, a position he has held for the past 3 years. He can be reached via [email protected], or, or @Rayyan88 on Twitter.
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The Nigeria Deposit Insurance Corporation, NDIC, has called on depositors of Unyogba Microfinance Bank in-liquidation to come forward for their verification and payment of their insured deposits.

The corporation on its Twitter handle on Wednesday said the bank was located in Kogi.

The NDIC said the exercise would commence between Jan. 30 and Feb. 10 at the branches of the closed banks in the state or any NDIC office.

The Corporation listed the bank’s branches where the exercise would take place to include Ejule, Anyigba, Ugwolawo, Federal Polytechnic, Idah and Okpo.

The NDIC called on affected depositors to present their passbooks, cheque books, other proof of account ownership together with any valid means of identification during the exercise.

It said that eligible depositors could also visit the Corporation’s website at to download and fill out the claims form.

On December 21, 2020, the NDIC began to liquidate 42 microfinance banks, MFBs, across the country.

The liquidation exercise followed the revocation of their licences by the Central Bank of Nigeria, CBN.

In 2018, the CBN revoked the operating licences of about 153 MFBs and six Primary Mortgage Banks, PMBs.


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