What is Liquidation Dividend?

This is a payment made to a depositor of a failed insured institution in excess of the insured sum.

While the insured sums are paid from the DIF, SIIF or NIDIF as the case may be liquidation dividends are paid from funds realized from the sale of the assets and recoveries of debts owed to the failed insured institution.

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Can Someone Retrieve the Insured Funds of a Deceased Relative from a Failed Bank in-Liquidation?
Yes. To process such claims, a Letter of Administration and a Probate from a Court of Law would be required to be presented to NDIC in addition to all other documents which are to serve as proof of ownership of such account.
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Does the NDIC Protect the Interests of Creditors or Shareholders of a Bank?
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If a Depositor has more than the Maximum Insured Amount as Deposit in a Closed Bank, Is He Entitled to any further Claim for the amount of His Deposits in Excess of the Maximum Insured Amount paid by the NDIC?
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What is Liquidation Dividend?

What is Liquidation Dividend?

Related Articles

Can Someone Retrieve the Insured Funds of a Deceased Relative from a Failed Bank in-Liquidation?

FAQs and Facts About DIS in Nigeria

FAQS and Facts about Deposit Insurance in Nigeria

Does the NDIC Protect the Interests of Creditors or Shareholders of a Bank?

If a Depositor has more than the Maximum Insured Amount as Deposit in a Closed Bank, Is He Entitled to any further Claim for the amount of His Deposits in Excess of the Maximum Insured Amount paid by the NDIC?