NDIC recovers N22.7bn from bank debtors — MD

Alhaji Umaru Ibrahim, the Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), says the corporation in 2010 recovered N22.79 billion as debt from bank debtors.
In the 2010 Annual Report and Statement of Account of the Corporation issued in Abuja, Ibrahim said the corporation recovered N20.77 billion debt in 2009.
He said the difference represented an increase of about N2 billion or 9.7 per cent. The managing director also said that the corporation in the year under review embarked on a number of aggressive debt recovery to facilitate and enhance liquidation dividend being paid to depositors.
According to him, the corporation used debt recovery agents and relevant law enforcement agencies and Assets Management Company of Nigeria (AMCON) to achieve the recovery.
On the closed micro-finance banks, Ibrahim said that the corporation had compiled all the necessary information for 76 out of 104 closed banks. He said that the payment of their insured deposits began on Dec. 6, 2010.