NDIC Begins ₦200,000 Compensation for Customers of Closed Microfinance Banks
The Nigerian Deposit Insurance Corporation (NDIC) has started compensating customers of 132 microfinance banks whose licenses were revoked by the Central Bank of Nigeria (CBN) in May 2023. Customers are eligible for a maximum payout of ₦200,000 upon proving their deposits, as per NDIC notices issued in May and August 2023. The CBN revoked the […]
