NDIC develops, deploys single buyer view platform for knowledge assortment in MFBs

The Nigeria Deposit Insurance coverage Company (NDIC) stated it has developed and deployed the only buyer view (SCV) platform to strengthen the method and process for knowledge assortment in microfinance and first Mortgage Banks within the nation.

The Managing Director/Chief Government Officer of the NDIC,Mr. Bello Hassan disclosed this in Port Harcourt at a workshop organised by the Company for enterprise editor and finance correspondents stated the platform would assist to make sure availability of high quality, well timed and full knowledge to the NDIC.
He stated it will as nicely eradicate delays usually skilled in reimbursing depositors following revocation of establishments’ licenses by the Central Financial institution of Nigeria (CBN).

He stated the ultimate part of the implementation of the SCV for Deposit Cash Banks (DMBs) shall be achieved by the incorporation of the SCV template as a part of the on-going Built-in Regulatory Resolution (IRS) collectively being developed with the CBN.

talking on the financial institution liquidation mandate, he stated as at June 30, 2022, NDIC has coated a complete of 467 insured monetary establishments in-liquidation, comprising of 49 Deposit Cash Banks, 367 Micro Finance Banks, and 51 Main Mortgage Banks.
He stated throughout the identical interval,
the NDIC had cumulatively paid N11.83 billion to over 443,949 insured depositors and over N101.37 billion to uninsured depositors of all classes of banks in-liquidation.

He defined that out of the 49 DMBs in-liquidation, the Company in September, 2022 declared 100 per cent liquidation dividend in 20 of these establishments, that means that the Company has realized sufficient funds from their property to totally pay all depositors of the listed banks.
Hassan stated within the space of shopper safety, the Company has strengthened its complaints decision platforms, which embrace the Toll-Free Assist Desk, social media handles and Complaints Desks within the Financial institution Examination, Particular Insured Establishments and Claims Resolutions Departments, in addition to our Zonal Places of work, to obtain and course of complaints from depositors.