The Nigerian Deposit Insurance Corporation said it recovered
a sum of N25.31bn from debtors of liquidated banks as of December 2013.The figure represents an increase of N630m over the amount
of N24.68bn which was recovered as of December 2012.
Similarly, it said a total of N60.02m was realized from
debtors of closed microfinance banks in 2013, as against N42.9m recovered in
2012.The corporation in its 2013 annual report and statement of
account for the banking sector said the amounts were recovered as part of its
resolution mechanism following the failure of the liquidated banks.The report, a copy of which was made available to our
correspondent, was jointly signed by the NDIC Board Chairman, Dr. Hassan Adamu,
and the Managing Director, Alhaji Umaru Ibrahim.
It said the corporation had in the year under review
improved on its supervisory activities in order to protect depositors by
ensuring that ‘unsafe and unsound’ banking practices were minimized.This, it stated, was done through on-site examination and
off-site surveillance.The on-site surveillance, it noted, was done through
routine, special, target examinations and investigations.
This, the report stated, had helped the corporation realize
a sum of N19.77bn from the disposal of physical assets of closed banks in 2013
as against N19.74bn in 2012.Similarly, it said the sum of N173.3m was realized from the
disposal of physical assets of closed banks in 2013 as against N157.12m in
2012.It said, “The NDIC continued to play its role as the liquidator
of closed insured institutions through asset realization and payment of
liquidation dividends to uninsured depositors and other eligible claimants
during the year under review.“In terms of asset realization, the NDIC recovered a
cumulative sum of N25.31bn from debtors of the DMBs in liquidation at the end
of 2013 as against N24.68bm recovered in 2012.“Similarly, a total cumulative recovery of N60.02m was realized
from debtors of closed MFBs in 2013 as against N42.9m realized in 2012,
representing an increase of N17.12m or 39.91 per cent.”
The report put the total number of closed DMBs in
liquidation for which the NDIC had obtained winding up orders as of December 31,
2013 at 45.Some of them are Financial Merchant Bank Limited, Kapital
Merchant Bank, Alpha Merchant Bank, United Commercial Bank, Abacus Merchant
Bank, Allied Bank, Century Merchant Bank, Commerce Bank Plc, Continental
Merchant Bank Plc, and Crown Merchant Bank.Similarly, out of the 103 MFBs whose licenses were revoked
by the CBN in September 2010, the report stated that the NDIC had successfully
closed 95 while the locations of eight could not be traced as of December 31,
2013.In the same vein, out of the 23 Primary Mortgage Banks whose
licences were revoked in August 2012, only five were located while 18 had yet
to be located for closure as of end of last year, it stated.Via.punch
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