The Nigeria Deposit Insurance Corporation (NDIC) has disclosed that some customers have not been paid their insured deposits because of the discrepancies in their information.
The Managing Director of NDIC, Bello Hassan, told newsmen in Abuja on Sunday that account names discrepancies in Bank Verification Number (BVN) is delaying the payment.
According to him, the corporation had paid substantial amount to depositors of the defunct bank without BVN account linked issues.
Hassan subsequently urged depositors of the bank who were yet to receive their insured deposit credit alert to visit the NDIC’s website and complete their verification forms for their payment.
The managing director said the verification would also include depositors without BVN alternate account.
He said, ”We have already commenced the payment of customers since June 6. We have paid substantial amount to the customers.”
”What we leverage in making the payment is BVN of customers. We trace alternate accounts in other banks and pay them their insured amounts.
“There are some that we have challenges linking up because of some discrepancies between the names and others.
“We are calling on customers that have not received their alerts in their alternate accounts to come forward and complete their verification forms so that we can pay them.”
On payment of depositors with more than five million naira with the bank, Hassan said they would be paid liquidation dividend.
According to him, NDIC has already commenced the process of disposing the physical buildings and also set the process in motion to make sure that they recover the loans and advances that were granted the bank.
”That is what we use in paying those liquidation dividends. We are not going to wait until we recover everything, no.
“As we recover, we will also advertise to say that we will pay liquidation dividends so that concerned depositors will be on the look out for alerts in their accounts,” Hassan added.
