The Nigeria Deposit Insurance Corporation (NDIC) on Tuesday said it recovered N25.31 billion from debtors of liquidated Deposit Money Banks (DMBs) as at December 2013.
This is contained in NDIC’s 2013 Annual Report and Statement of Account for the banking sector and made available to newsmen in Katsina.
The report stated that the amount was recovered as part of the organisation’s failure resolution mechanism.
It stated that the corporation had in the year under review improved on its supervisory activities over insured institutions to protect depositors interest by ensuring that ‘unsafe and unsound’ banking practices were minimised.
This, the report stated, helped the corporation realise N19.77 billion in 2013 from the sales of physical assets of closed DMBs.
It stated that the figure represented N300 million increase in the N19.74 billion recorded in 2012.
The report stated that NDIC obtained winding up orders for 45 closed distressed DMBS as at December 31, 2014.
It named some of the banks to include, Continental Merchant Bank Plc., Commerce Bank Plc., Eagle Bank plc., Metropolitan Bank Ltd., Trade Mark Ltd., and Lead Bank Plc.
Others are Fortune Bank Plc., Afex Bank Ltd., Assurance Bank Nig. Ltd., Peak Merchant Bank Ltd., among others.
It stated that N173. 3 million was also realised from the disposal of physical assets of closed Micro Finance Banks (MFBS) in 2013 as against N157.12 million in 2012.
The NDIC said it recovered N25. 31 billion from debtors of liquidated DMBS as at the end of 2013 as against N24. 68 billion recovered in 2012.
“Similarly, N60 million was realised from debtors of closed MFBS in 2013 as against N42. 9 million realised in 2012, representing an increase of N17. 12 million.
The report stated that the recoveries enabled the corporation to pay cumulative liquidation dividend of N97.51 billion to 250,497 uninsured depositors of closed DMBS in 2013.
It stated that the figure was against N173. 58 billion paid to 250, 209 depositors in 2012.
It also stated that liquidation dividend of N1.19 billion was paid to 424 uninsured creditors of liquidated DMBS out of N1.72 billion declared for nine liquidated DMBS. (NAN)
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