The Nigeria Deposit Insurance Corporation (NDIC) has announced its intention to seek judicial orders to formally dissolve several closed Microfinance Banks (MFBs) and Primary Mortgage Institutions (PMIs).
Acting in its capacity as the liquidator for these institutions, the NDIC stated in a public announcement issued on Thursday that it will petition various divisions of the Federal High Court to obtain official dissolution orders.
This legal action is being taken in accordance with the provisions of the Corporation’s enabling law and other relevant statutory requirements.
The corporation clarified that these applications will be presented to the court following a 30-day notice period from the date of this public announcement.
Once the court grants the orders, the NDIC aims to be officially released and discharged from its responsibilities as liquidator for the affected banks and institutions.
See the list of the affected financial institutions here: Liquidated Banks
