The Nigeria Deposit Insurance Corporation (NDIC) paid out a total of N37.65 billion to depositors of failed banks throughout 2025, covering both insured deposits and liquidation dividends for uninsured funds.
NDIC Managing Director Thompson Sunday made the disclosure during a citizens and stakeholders’ engagement session organised by the Federal Ministry of Finance in Abuja.
Of the total amount, N4.06 billion was paid to 13,446 insured depositors, while N33.59 billion was disbursed as liquidation dividends to uninsured depositors from the proceeds of asset sales and debt recoveries.
Sunday also confirmed that 698,040 customers of the defunct Heritage Bank have so far received their reimbursements, with the payout process still ongoing for remaining eligible claimants.
Strong Debt Recovery Performance
In addition to the payouts, the NDIC successfully recovered N42.69 billion from debts owed by failed banks during the year. The corporation also earned N14.72 billion from investments and the disposal of assets.
The Managing Director attributed the improved performance to the enhanced powers granted to the NDIC under the NDIC Act 2023, which has strengthened its ability to intervene in troubled institutions and recover value more efficiently.
He further highlighted the positive impact of Bank Verification Number (BVN) technology, which has significantly sped up the identification and verification of eligible depositors, leading to faster and more accurate payments.
The latest figures underscore the NDIC’s critical role in protecting depositors and maintaining confidence in Nigeria’s banking system, even as it continues to recover assets from failed institutions to minimise losses to the public.
