NDIC begins payment of Trade Bank depositors

06.05.2008

The Nigerian Deposit Insurance Corporation (NDIC) has commenced payment of second liquidation dividend to public sector depositors of Trade Bank Plc in liquidation.

According to a statement by the corporation, it was declaring dividend of 22 kobo per naira to the depositors, from the funds realised from the asset of the closed bank, thus bringing to 51 kobo per naira liquidation dividend so far declared by the closed bank.

It advised the affected depositors to collect both their insured deposit and liquidation dividends from the paying agent, United Bank for Africa Plc, at the former Trade Bank branches where their accounts were domiciled or other additional locations as may be designated by UBA Plc.

NDIC advised depositors to present their cheque books, savings passbooks, term deposit certificates, statements of accounts and other documents as proof of account ownership.

The statement added that corporate identifications would also be required, including proper written authorisation and identification duly endorsed by signatories to the account for those collecting on behalf of ministries and corporate bodies.