NDIC pays N37.65 billion to failed bank customers, recovers N42.69 billion in debts

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The Nigeria Deposit Insurance Corporation (NDIC) has paid N37.65 billion to customers of failed banks in 2025. The payment covers insured deposits and liquidation dividends for uninsured funds.

NDIC Managing Director Thompson Sunday announced this at the Federal Ministry of Finance Citizens and Stakeholders' Engagement Session in Abuja. He said the corporation paid N4.06 billion to 13,446 insured depositors. Another N33.59 billion went to uninsured depositors as liquidation dividends from asset sales and recoveries.

Sunday confirmed that 698,040 customers of the defunct Heritage Bank have received reimbursements. The payout process continues.

The NDIC recovered N42.69 billion from debts owed by failed banks in 2025. It also generated N14.72 billion from investments and asset disposals.

Sunday said the NDIC Act 2023 has strengthened the corporation's power to intervene in troubled banks and recover assets. He added that the use of Bank Verification Number (BVN) technology has sped up the identification of eligible depositors and payment processing.

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