In response to the recent revocation of licenses by the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC) has initiated the process of reimbursing all depositors of the affected banks. The banks in question include 178 Microfinance Banks and four Primary Mortgage Banks, with 62 of them having already ceased operations, 74 declared insolvent, 12 temporarily distressed, and the remaining six undergoing voluntary liquidation.

Assuring the public during a capacity-building workshop...

https://ratecaptain.com/ndic-begins-depositors-payment-after-bank-license-revocations-by-cbn/