By Ginika Okoye
The Nigeria Deposit Insurance coverage Company (NDIC) has begun the method of liquidating Aso Financial savings and Loans Plc and Union Houses Financial savings and Loans Plc, following the revocation of their working licences by the Central Financial institution of Nigeria (CBN).
The Company, in a discover to depositors and collectors of the banks in Abuja on Tuesday, stated the verification and fee of insured deposits to prospects of the closed banks had begun.
NDIC stated that depositors of the banks could be paid their insured deposits as much as the utmost quantity of two million naira per depositor.
The Company stated it might use the Financial institution Verification Quantity (BVN) as a singular identifier to find the alternate financial institution accounts of the depositors the place the insured sums could be routinely credited.
The Company disclosed that depositors with balances in extra of two million naira could be paid the preliminary insured quantity, whereas their excellent balances be settled as liquidation dividends.
It added that the excellent balances in extra of the 2 million naira could be paid upon the realisation of the property and restoration of money owed owed to the failed banks.
In keeping with NDIC, the Company will begin the sale of the banks’ property and proceed restoration of excellent loans to expedite fee of uninsured sums.
”Following the revocation of the licences of Aso Financial savings and Loans Plc and Union Houses Financial savings and Loans Plc by the CBN on December 15, 2025, the NDIC was appointed because the liquidator of the defunct banks in keeping with the provisions of Part 12(2) of the Banks and Different Monetary Establishments Act (BOFIA) 2020.
”Depositors are suggested to submit their claims on-line by visiting the NDIC claims portal at https://ndic.gov.ng/claims-verification-forms/ finishing the digital claims kind with all required data.
”Depositors preferring bodily verification are suggested to go to the closest department of the closed banks between Dec.16 and Dec. 30, the place NDIC officers might be out there to take care of them,” it stated
NDIC, subsequently, suggested depositors to current proof of account possession, a verifiable technique of identification and particulars of their alternate checking account and BVN throughout verification to facilitate fee of their insured sums.
The Company stated the collectors of the closed banks had been suggested to submit their claims on-line or go to the closest department of the banks between Dec.16 and Dec. 30.
”In accordance with the provisions of the legislation, fee of liquidation dividends to collectors will begin in any case depositors have been totally paid.
”After the complete fee to all depositors, fee of deposit of employees of the defunct banks might be comprised of the proceeds of the sale of the banks’ property, as liquidation dividends.
”Following the complete fee to Depositors and Collectors, shareholders shall subsequently be paid from additional realisation of the banks’ property and the restoration of excellent money owed, as liquidation dividends.
”Debtors of the defunct banks are suggested to go to the Company’s Asset Administration Division to make sure the settlement of their indebtedness in full,” the Company stated.
NDIC urged stakeholders to contact the Company by way of its piece of email handle. claimscomplaints@ndic.gov.ng for additional data or clarification on claims verification.
The Information Company of Nigeria (NAN) reviews that the CBN had revoked the licences of the banks on Tuesday.
The CBN’s Appearing Director, Company Communications Division, Hakama Sidi-Ali stated the motion was a part of the apex financial institution’s efforts to re-position the mortgage sub-sector and promote a tradition of compliance with related legal guidelines and laws.
Edited by Ese E Ekama – Williams
