By Ossom Raphael

L-R: MD/CEO NDIC Mr Bello Hassan , NDIC Board Chairman Mrs Ronke Sokefun and FCT Minister Mal. Muhammed  Musa Bello

Abuja – The Nigeria Deposit Insurance Corporation (NDIC) is soliciting the support of the Federal Capital Territory Administration in the realisation of landed properties of banks in-liquidation within the FCT to enable it pay depositors of affected closed banks.

The Corporation had faced some bottlenecks in the full payment of trapped depositors’ funds as a result of difficulty in realising assets of banks in-liquidation due to poor documentation by the banks, revocation of title by authorities and litigations over the assets.
The NDIC Board Chairman, Mrs Ronke Sokefun said this during a courtesy visit by the Corporation’s Board and Management to the Honourable Minister of the FCT, Mal. Mohammed Musa Bello in Abuja.

A statement made available to newsmen and signed by Bashir Nuhu, Director, Communication and Public Affairs, the NDIC Board Chairman, noted that some of the assets are located within the FCT.

Mrs Sokefun, said the support of the Ministry in realising them would assist the Corporation in the effective discharge of its mandate of deposit guarantee which ensures that depositors recover their savings in the event of bank failure.

Speaking also the NDIC’s Managing Director/CEO, Mr. Bello Hassan elaborated on the roles and relationship between the NDIC and the Asset Management Corporation of Nigeria (AMCON) in the management of banks assets.

Hassan, explained that the Corporation as a liquidator focuses on the assets of closed banks following revocation of their licence by the Central Bank of Nigeria (CBN) while AMCON was involved with only Non-Performing Loans (NPLs) of existing banks acquired by AMCON.

On his part, the Minister of FCT, Mal. Mohammed Musa Bello observed that problems relating to landed properties in the FCT were usually not by the Ministry but from issues arising from the title of such properties.

Mal. Bello however said the Ministry was amenable to assisting the Corporation in resolving issues around its properties and those of banks in-liquidation in the FCT within the ambit of the law.

He noted the continued long standing and cordial relationship that has been sustained over the years between the Corporation and the Ministry and commended the Corporation for its active support of the development in the FCT in education through the donation of furniture and books as well as the Corporation’s interventions and financial assistance in support of the fight against the COVID-19 Pandemic.