NDIC recovers N28.84bn from failed banks debtors

The Nigerian Deposit Insurers Corporation says it has recovered N28.84bn from debtors of failed banks. The Managing Director, NDIC, Umaru Ibrahim, said this at the corporation’s Special Day at the ongoing Abuja International Trade Fair on Tuesday. Giving further analysis of the recovered debts, Ibrahim said N21.85bn was realised from the sale of physical assets of the failed banks. According to him, the status of the recovery was as of December 31, 2017, adding that the corporation had as of the date paid N11.5bn to depositors, creditors, shareholders and other stakeholders of closed failed banks. The NDIC boss said the corporation was implementing the National Financial Inclusion Strategy by adopting various public awareness activities to achieve its purpose.According to him, the NDIC has engaged in several activities to achieve the goal, including the World Savings Day, financial literacy for youths in secondary schools, TV and radio jingles and workshops for stakeholders. Read More: