The
Manager Director of Nigeria Deposit
Insurance Corporation (NDIC) Alhaji Umaru Ibrahim during his defense of NDIC’s
2014 Budget before the Senate Committee on Banking and Currency disclosed that
83 Microfinance banks operating in Nigeria has been liquidated.
He
also announced that plans were on to work out ways and means to regulate mobile
banking in Nigeria. The NDIC boss justified the liquidation of the 83 MFBs on
the discovery that some of the banks exists only on paper while some are used
to defraud Nigerians.
He
said there are up to 900 Micro Finance Banks operation in the country out of
which 83 have been listed for liquidation.
Ibrahim
said NDIC is already working to determine the number of depositors and how much
each deposited in the banks in order to pay them.
Source: The Will
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