PEAK MERCHANT BANK DEPOSITORS ARE BEING VERIFIED BY THE NDIC

NDIC stands for Nigeria Deposit Insurance Corporation. Keeping your bank deposits safe

The federal government has summoned defunct Peak Merchant Bank depositors to attend for verification in order to get payment on their insured accounts.

The Nigeria Deposit Insurance Corporation, NDIC, made the announcement in a recent document uploaded on its official Twitter account.

The Corporation's Claims Resolution Department announced that the verification would begin between April 26 and May 6.

The Corporation specified that the exercise would take place in Eket, Akure, Bonny, and Warri.

The NDIC stated that depositors might also verify their claims by visiting the Corporation's website.

Depositors, according to the Corporation, might send email to the authorized email address.

The deposit insurance system was designed to safeguard depositors and ensure the settlement of insured monies when a deposit-taking financial institution was unable to refund their deposits.

In the event of a bank failure, the NDIC guarantees the reimbursement of deposits up to the maximum level specified in its statute.