Failed Banks: NDIC commences process to conclude Liquidation of 89 MFBs, PMB

Nigeria’s Deposit Insurance Corporation has begun winding up 89 defunct microfinance and primary mortgage banks that were recently taken over by new owners through its Purchase & Assumption scheme. The move aims to finalize liquidation, protect depositor funds and restore

The Nigeria Deposit Insurance Corporation, NDIC, says it has commenced the process of concluding the liquidation activities of 89 closed Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs) following their successful acquisition by new owners under the Purchase and Assumption (P&A) resolution model executed by the Corporation. A statement by Hawwau Gambo, the Head of […] Failed Banks: NDIC commences process to conclude Liquidation of 89 MFBs, PMB