Failed Banks: NDIC Recovers ₦24.68b From Debtors

The Nigeria Deposit Insurance Corporation (NDIC) said it recovered, in 2012, a cumulative sum of ₦24.68 billion from debtors of Deposit Money Banks that were liquidated by the Central Bank of Nigeria.

The ₦24.68 billion represents an increase of ₦2.42 billion over the ₦22.26 billion recovered in 2011.

It also said that a cumulative debt sum of ₦42.90 million was recovered from the debtors of closed microfinance banks in 2012, as against the ₦13.48 million realised in 2011.

The NDIC gave the figures in its annual report and statement of account for the 2012 financial period, which was released in Abuja on Thursday.