We’ve started paying depositors of 46 microfinance banks — NDIC

…Over 700,000 Heritage Bank depositors paid By Cynthia Alo
The Nigeria Deposit Insurance Corporation, NDIC, has said that it commenced payment of depositors of the 46 microfinance banks whose operating licences were revoked by the Central Bank of Nigeria, CBN, in July.
The Managing Director and Chief Executive Officer of NDIC, Mr. Thompson Sunday, disclosed this on Wednesday during an interview with journalists at the 2026 stakeholders’ retreat for members of the House of Representatives Committee on Insurance and Actuarial Matters in Lagos.
The retreat was held under the theme, “Strengthening Financial Safety Nets in an Era of Banking Sector Recapitalisation and Fintech Innovation....