CAC Liquidates 30 Wonder Banks, as Depositors May Lose N106bn

Crusoe Osagie


The Corporate Affairs Commission (CAC) has announced that it has filed for the liquidation of 30 out of the 400 Wonder Banks in which Nigerians invested over N106 billion, which may never be recovered.

The Registrar General of the CAC, Alhaji Bello Mahmud, last weekend in Abuja stated that at the end of the collation exercise, claims totaling over N106 billion were submitted against about 400 Wonder Banks.

He said the CAC has since been directed by the overseeing committee on the issue, made up of the EFCC, CBN, NDIC, SEC, SFU AND CAC, to file winding up petitions at the Federal High Court in respect of 30 out of the 400 wonder banks that accounted for 97 per cent of the total claims.

“The courts have already appointed liquidators for 28 out of the 30 wonder banks being wound up,” Mahmud noted.

He said the recurring cases of wonder banks in the country had become a major source of concern to the federal government and its regulatory agencies, giving rise to the setting up of an inter agency committee.

The committee had invited all depositors of these Wonder Banks to submit claims through the CAC offices nationwide for the purpose of ascertaining the extent of their exposure.
The CAC chief executive also disclosed the commission’s collaboration with the Federal Ministry of Communications Technology towards on-boarding the commission on the government service portal.

This, he said, would afford the agency’s customers the opportunity to carry out their transactions online and pay for CAC’s services electronically through the web on a platform to be provided by the Nigerian Interbank Settlement System plc (NIBSS).

“The new system is expected to be deployed in phases with the first phase being expected to commence before the end of 2013,” Mahmud said. He also noted that having obtained the NIS ISO 9001:2008 and a new certification in 2012 to last for a period of three years, the CAC has become the only government agency to attain the feat.

“In 2006, the CAC subjected its processes, procedures and systems to the scrutiny of the International Standards Organisation through the Standards Organisation of Nigeria (SON). This culminated in the certification of the commission in 2007 for quality management systems based on ISO 9001:2000 standards.

“Following the introduction of the NIS 9001:2008 standards the CAC obtained new certification in the year 2010 for a period of three years. The CAC went through another revalidation Audit in 2013 and was issued another certificate for a period of three years with effect from October 3, 2013,” he explained.

Tags: Business, Nigeria, Featured, CAC Liquidates

http://www.thisdaylive.com/articles/cac-liquidates-30-wonder-banks-as-depositors-may-lose-n106bn/166773/

I just saw this topic in THISDAY NEWSPAPER today,i decided to post it here so that people concerned will read it,I did not know that they were collecting informations of Depositors recently,I relocated to ASABA-DELTA STATE from LAGOS since late last year and on information about NOSPETCO OIL AND GAS COMPANY,where i deposited huge some of money,i sent a petition to EFCC in 2007 with other depositors and no news from EFCC.Please i need help from someone to let me know if i can still submit my deposit receipt and the MOU to EFCC OR CAC.

Please,I am waiting for your response.

feedback please

still waiting

waiting

Sorry bros, but the truth is bitter, that money is gone; just forget it and move on with your life. Afterall you didn't die since 2007 so why worry again.

Oooh, am I on frontpage; thank you omolabake ***winking

On a serious note, what is a wonder banks?

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It would seem that if these banks that are to be liquidated were allowed and licensed to collect deposits from the general public, they would have had banking licenses via the CBN. As such an amount of your deposit would be guaranteed by the CBN and if you have proof you should be able to collect. Anything above the guarantee of CBN is most likely lost. I say most likely as each bank will have different liquidations proceedings which could yield something, but I sincerely doubt this. Success.

Wonder bank is called SOGUNDOGOJI in yoruba language,in ibo its is called MONEY DOUBLER BANK in hausa it is called BARAO BANK.....hehehehhehehehehehehehehhehehehehehehehehehhehehe

SLIDE waxie: On a serious note, what is a wonder banks?

Glorified ponzi schemes that call themselves banks.

In Fela's Voice and Instrumental


"Wonder, wonder wonder wonder wonder, Wonder wonder wonder till I turn to wonderer".

Hmmmmm i wonder

Wonder bank?

wtf is wander bank

When will MFM start liquidating too

e.g of wonder bank

Really Wonderful. Someone see to this...

Prince Justice:
Who send them go put money for this them WONDER BANK? Wetin happen to ourREGULAR BANKS dem

they promise to multiply ur money by 2000% while ur regular bank will only give you 2%.
So
can you SPOT THE DIFFRENCE

jossy26: Oooh, am I on frontpage; thank you omolabake ***winking

Like seriously Just hold on till I get hold of you. You so funny,good for you anyways.

Wonder banks?

I thought that shyt didn't exist anymore

I thought it was. cac. christ apostolic church

Bia, kee ife bu kwa wondrous bank? Givu me one "egizampu" Emeka, i hope na itinyeghi ego'm na aka ndia?
Ifea bukwa xmas season:/



My prayer is, Open thou my eyes oh Lord dat i may decode wondrous banks away frm my money.

Omexonomy: they promise to multiply ur money by 2000% while ur regular bank will only give you 2%.
So
can you SPOT THE DIFFRENCE

So where is this 2000% now?
WONDERS no go Finish

No type of bank wey no de dis country. wonder bank kwa

Money doubler bank?

Some people are purging from awoff

Where is the list of the phucking wonder banks?

In Kd we call it Mariam Moses.

What the hell is a wonder bank?