Business
NDIC To Liquidate Eight Micro-Finance Banks In Rivers
Following the revocation of
operational licenses of 83 Micro-finance Banks (MFBs) across the country by the Central Bank of Nigeria (CBN), the Nigerian Deposit Insurance Corporation (NDIC) has commenced the liquidation of eight of such financial houses in Rivers State.
Announcing the closure of the micro-finance banks, the NDCC, said the depositors, shareholders and the public are reminded that the operating licenses of the banks have been revoked by the Central Bank effective December 2013.
The NDIC said in a statement made available to The Tide that it has been appointed as the provisional liquidator of the micro-finance banks, and has therefore, began the process of orderly winding up of the affairs of the affected banks.
According to a statement from the office of the Director, Claims Resolution Department of the NDIC, the period of verification and payment of insured deposit would be announced in due course.
The affected micro-finance banks in Rivers State are Acorn MFB, located at II, Okrika (Station) Road, Port Harcourt, CKC MFB, 38 Aggrey Road PH, First Global MFB 60A, Trans Amadi Road PH, Neighbour MFB, 45 Woji Road GRA Phase II, PH.
Others include Ngegwe MFB, 77 Hospital Road, Ogale Eleme PH, Okwuta MFB, 33 NTA Road, Rumuokabua PH, Sama MFB, 19 Okrika Road PH, SVP MFB 14/55 Mile I Diobu, PH.
The statement further urged stakeholders to contact the zonal office in Port Harcourt located at No. 104 Woji Road, GRA Port Harcourt for necessary enquiries and assistance.
The NDIC advised depositors not to panic as necessary procedures are being taken to ensure that their funds are not lost, but paid to them.
It would be recalled that the Central Bank of Nigeria revoked the operating licenses of the Micro Finance Banks on grounds of irregularities perpetuated by the financial institutions and the need to save depositors and other customers untold pains in the future.
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