NDIC begins verification of Peak Merchant Bank depositors April 26

By Seun Ibiyemi

The Nigeria Deposit Insurance Corporation (NDIC) has called on depositors of the defunct Peak Merchant Bank to come for verification for the payment of their insured deposits.

The NDIC in a document posted on its official Twitter handle by the Claims Resolution Department of the Corporation, said the verification would commence between April 26 and May 6.

The Corporation listed the locations for the exercise to include Eket, Akure, Bonny, and Warri.

NDIC said that depositors could also visit the claim’s page on the Corporation’s website on www.ndic.gov.ng for their verification.

The Corporation said that depositors could also send email to its designated email address  [email protected].

Reports that the purpose of the deposit insurance system was to protect depositors and guarantee the settlement of insured funds when a deposit-taking financial institution could no longer repay their deposits.

NDIC guarantees the payment of deposits up to the maximum limit in accordance with its statute in the event of bank failure.