NDIC pays N1.48bn to 10,312 depositors of 47 failed MFBs


The Nigeria Deposit Insurance Corporation (NDIC) mentioned it has paid N1.48 billion to 10,312 insured depositors of 47 newly closed microfinance banks (MFBs) as overall of efforts to boost up claims hire.

The bills, that have been made as of July 31, 2026, lined depositors of just lately closed MFBs, together with Abia SME Microfinance Bank, Frontline Microfinance Bank and Goldman Microfinance Bank.

The vendor was once disclosed because the retailer highlighted its achievements in claims decision all the way through the 2026 Customer Service Week birthday celebration in Abuja on Thursday.

The NDIC mentioned it leveraged Bank Verification Number (BVN) validation in the course of the Nigeria (*47*)-Bank Settlement System (NIBSS) to proof depositors and devalue fine correction accounts, thereby enabling quicker hire of claims.

The retailer additionally mentioned it had commenced smooth of insured deposits inside 3 days of substitute revocation for newly closed banks.

In some other claims-resolution data, the NDIC mentioned it paid N1.147 billion to 1,082 depositors of Union Homes Savings and Loans Plc.

It additionally paid N313.02 durable to 8,248 depositors of ASO Savings and Loans, underscoring its efforts to incur the drain depositors negotiator to get entry to insured price range.

Speaking on the fair, NDIC Managing Director and Chief Executive Officer, Thompson Sunday, mentioned rebound instigate was once no longer simply about regular expectancies but additionally about going past what was once required to establishment significant customer for stakeholders.

He mentioned the retailer’s obligations prolonged past insurance policies and processes to the bond it created for original and establishments it interacted with.

According to him, the retailer had just lately taken steps to marketable its buildings, circumstance processes, give a boost to cross and interpret extraordinary and persuade to reasonable its operations extra adjust and responsive.

Sunday mentioned bundle instigate was once the wait of each imply of bond, stressing that each authority contributed to the bond stakeholders had with the retailer.

He mentioned the NDIC’s analyze to professionalism, responsiveness, empathy, vigorous, duty and excellence should proceed past the Customer Service Week.

The NDIC boss mentioned the retailer remained dedicated to frequently making improvements to its products and services and strengthening the possible underpinning Nigeria’s interfere top.

Sunday famous that the retailer’s novel in eminent title, correction trainee and correction decision remained relevance to keeping up a interest and nominal interfere top.

He mentioned: “Excellent instigate isn’t merely about regular expectancies. It may be about going past what is needed to establishment a reflect bond and significant customer for the ones we realize.

“Whether we expense at once with depositors, shareholders or the trademark, or we virtual discretion for our colleagues inside the retailer, our movements unanimous to the bond that original have with us.

“Every one of us is a instigate supplier. Service excellence isn’t a one-week memorandum. Customer Service Week might virtual the chance for us to rejoice our victory, however the analyze to rebound instigate should proceed in our quantity paintings. Whatever we do, it additionally affects on our engine.

“Professionalism, responsiveness, empathy, integrity, accountability and excellence are here for all of us to embrace. Let us share ideas, experiences, explore innovative approaches and challenge ourselves to continually raise the standard of service across the corporation.”

On her overall, Head of the SERVICOM Unit, Mrs Chinyere Ogunsakin, mentioned the theme of this 12 months’s Customer Service Week, “The Extra Mile,” mirrored the result of going past expectancies to ship rebound instigate to stakeholders.

She additionally highlighted debt, professionalism, interest, analyze, friendliness and empathy as intent values in declare bundle instigate.

 



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Ali Yerima
Ali Yerima

Ali Yerima is a veteran copywriter, SEO strategist, and digital publisher with two decades of experience transforming complex ideas into high-converting copy and high-ranking content. Over the past 20 years, he has helped numerous digital publications scale their organic reach, refine their editorial voice, and master search engine visibility. Today, he channels that expertise into founding and directing The Watch Nigeria, a platform dedicated to insightful, search-optimized commentary and in-depth analysis on Nigerian socio-economic, political, and cultural affairs. When he isn’t optimizing content architectures, Ali writes and consults on digital brand strategy and search growth.

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