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List Of Financial Institutions (banks)under Liquidation!! by Stewart883(m): 10:17pm On May 02, 2020 |
Closed Financial Institutions Below is the list of 45 failed banks which were closed, having had their licences revoked by the Central Bank of Nigeria, between 1994 and 2006. The Federal High Court issued orders for them to be wound up and appointed the Nigeria Deposit Insurance Corporation (NDIC) as Liquidator of the banks. The Corporation is currently winding up the banks. List of Closed Financial Institutions under Liquidation S/NO NAME OF BANK UNDER LIQUIDATION DATE OF CLOSURE 1 Abacus Merchant Bank Ltd Jan. 16, 1998 2 ABC Merchant Bank Ltd Jan. 16, 1998 3 African Express Bank Ltd Jan. 16, 2006 4 Allied Bank of Nigeria Plc Jan. 16, 1998 5 Allstates Trust Bank Plc Jan. 16, 1998 6 Alpha Merchant Bank Plc Sept. 08, 1994 7 Amicable Bank of Nigeria Plc. Jan. 16, 1998 8 Assurance Bank of Nigeria Plc Jan. 16, 2006 9 Century Merchant Bank Ltd. Jan. 16, 1998 10 City Express Bank Plc Jan. 16, 2006 11 Commerce Bank Plc Jan. 16, 1998 12 Commercial Trust Bank Ltd Jan. 16, 1998 13 Continental Merchant Bank Plc Jan. 16, 1998 14 Coop. & Commerce Bank Plc Jan. 16, 1998 15 Credite Bank Nig. Ltd Jan. 16, 1998 16 Crown Merchant Bank Ltd. Jan. 16, 1998 17 Financial Merchant Bank Ltd. Jan. 21, 1994 18 Great Merchant Bank Ltd. Jan. 16, 1998 19 Group Merchant Bank Ltd. Jan. 16, 1998 20 Gulf Bank Ltd Jan. 16, 2006 21 Hallmark Bank Plc Jan. 16, 2006 22 Highland Bank of Nig Plc Jan. 16, 1998 23 ICON Ltd. (Merchant Bankers) Jan. 16, 1998 24 Ivory Merchant Bank Ltd. Dec. 22, 2000 25 Kapital Merchant Bank Ltd. Jan. 21, 1994 26 Lead Bank Plc Jan. 16, 2006 27 Lobi Bank of Nig. Ltd. Jan. 16, 1998 28 Mercantile Bank of Nig. Plc. Jan. 16, 1998 29 Merchant Bank of Africa Ltd. Jan. 16, 1998 30 Metropolitan Bank Ltd. Jan. 16, 2006 31 Nigeria Merchant Bank Ltd. Jan. 16, 1998 32 North-South Bank Nig. Plc. Jan. 16, 1998 33 Pan African Bank Ltd. Jan. 16, 1998 34 Pinacle Commercial Bank Ltd. Jan. 16, 1998 35 Premier Commercial Bank Ltd Dec. 22, 2000 36 Prime Merchant Bank Ltd. Jan. 16, 1998 37 Progress Bank Ltd. Jan. 16, 1998 38 Republic Bank Ltd June 29, 1995 39 Rims Merchant Bank Ltd. Dec. 22, 2000 40 Royal Merchant Bank Ltd. Jan. 16, 1998 41 Trade Bank Plc Jan. 16, 2006 42 United Commercial Bank Ltd. Sept. 8, 1994 43 Victory Merchant Bank Ltd. Jan. 16, 1998 44 Eagle Bank Plc. Jan. 16, 2006 45 Liberty Bank Plc. Jan. 16, 2006 The above list of closed financial institutions does not contain the names of these banks whose licences were revoked by the Central Bank of Nigeria but the Federal High Court is yet to issue winding up orders and appoint the Corporation as Liquidator for the banks. Due to court actions instituted by some of the closed banks’ shareholders challenging the revocation of their banks’ licences, the Corporation was unable to conclude the closing exercise and initiate the payment of deposits to depositors of the banks. To view the record of Court Proceedings for such closed banks, go to Litigation under Legal Matters/Regulations A1. Savannah Bank of Nigeria Plc, licence revoked Feb. 16, 2002, click sbn-court-proceedings A2. Peak Merchant Bank Limited, licence revoked Feb. 28, 2003,click pmb-court-proceedings B1. Eagle Bank Plc, licence revoked Jan. 16, 2006, (NDIC appointed Provisional Liquidator) click eb-court-proceedings B2. Fortune Bank Plc, licence revoked Jan. 16, 2006, (NDIC appointed Provisional Liquidator) click fb-court-proceedings B3. Liberty Bank Plc, licence revoked Jan. 16, 2006, click lb-court-proceedings B4. Societe Generale Bank of Nigeria Plc, licence revoked Jan. 16, 2006, click sgbn-court-proceedings B5. Triumph Bank Plc, licence revoked Jan. 16, 2006, click tb-court-proceedings UPDATE ON THE LIQUIDATION OF FOURTEEN (14) BANKS AS AT JANUARY 2007 The banking licences of fourteen (14) banks were revoked on 16th January, 2006 by the Central Bank of Nigeria (CBN). The Corporation has so far been appointed the liquidator for nine (9) banks namely; All States Trust Bank Plc, Lead Bank Plc, Assurance Bank Nigeria Limited, Trade Bank Plc, Metropolitan Bank Limited, City Express Bank Limited, Hallmark Bank Plc., African Express Bank Plc. and Gulf Bank of Nigeria Plc. ; and the provisional Liquidator for Fortune Bank and Eagle Bank Plc. The regulatory authorities decided that Purchase and Assumption Transaction should be adopted to resolve the failure of the 14 banks. Under this arrangement the 9 banks have been or are in the process of being offered to the 25 existing banks to assume their private sector deposits and acquire their assets. The outcome of the bidding processes are as follows: 1. Ecobank Plc emerged the successful bidder for All States Trust Bank Plc (in-liquidation). Ecobank has reopened all the 65 branches from where the failed All States Trust Bank operated. As the depositors of All States Trust Bank turn up, their deposits are verified and new accounts opened for them as Ecobank customers. Over 32,000 depositors have verified their deposit claims. 2. Afribank Plc, likewise, emerged the successful bidder for Assurance Bank of Nigeria Plc (in-liquidation) and Lead Bank Plc (in-liquidation). New accounts were opened for depositors of these banks as Afribank customers. 3. UBA Plc emerged the successful bidder for Trade Bank Ltd (in-liquidation). Verification of depositors commenced on 31st January, 2007 Liquidation activities are at various stages of completion in the rest of the banks where the action of the Corporation is not facing any challenge in court. |
Re: List Of Financial Institutions (banks)under Liquidation!! by Stewart883(m): 10:34pm On May 02, 2020 |
Edited. |
Re: List Of Financial Institutions (banks)under Liquidation!! by willyo(m): 10:44pm On May 02, 2020 |
Where is lala sef? Abi because snake bank noh dey? |
Re: List Of Financial Institutions (banks)under Liquidation!! by dalongjnr: 1:18am On May 03, 2020 |
Nice compilation. |
Re: List Of Financial Institutions (banks)under Liquidation!! by kasim155: 3:37am On May 03, 2020 |
Nice 1 |
Re: List Of Financial Institutions (banks)under Liquidation!! by Stewart883(m): 3:39pm On May 03, 2020 |
kasim155: Yeah! |
(1) (Reply)
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