Reuben Buhari
23 October 2008
Kaduna — Nigeria Deposit Insurance Corporation (NDIC) has reassured depositors whose money were trapped in some of the failed banks that they would be paid once their claims are confirmed through due process.
Managing Director of NDIC, Alhaji Ganiyu Ogunleye, represented yesterday by the Executive Director, Corporate Services, Mallam Ibrahim Umar, at a four-day management retreat in Kaduna, said with the exception of depositors with Savannah Bank whose case is still in court, other customers whose funds were trapped would be paid their money in due course.
Ogunleye said "depositors who are yet to file their claims should come forward and do so. Payments to depositors are a continuous process and nobody would be left out. We placed advert in the media asking them to come forward and file their cases and get their deposit claims verified.
"All depositors whose money were trapped in the failed banks will be paid their deposit, except that of Savannah Bank whose case is currently in court and we don't want to comment on that. We have issued notice to depositors of defunct Societe Generale Bank to come forward and file their cases and get their deposits."
He also said the timing of the retreat, which is the first of its kind in the NDIC does not have any bearing with the current global crisis, but to enhance and sharpen participants' skills and enable them to carry out their services effectively, especially when it comes to reassuring depositors of the safety of their deposits.
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