NDIC Seeks Lawyers’ Support in Recovering Closed Banks’ Assets
The Nigeria Deposit Insurance Corporation (NDIC) has called on external solicitors to assist in recovering assets from closed banks. NDIC Managing Director, Dr. Bello Hassan, made the appeal at a seminar in Abuja, emphasizing the role of asset recovery in settling uninsured deposits, contractor claims, and liquidation dividends.
He cited the collapse of Heritage Bank, highlighting the complexities of bank liquidation and the need for legal expertise. He stressed that NDIC plays a dual role in litigation, representing depositors and creditors while pursuing debt recovery.
Dr. Hassan reaffirmed that legal support is crucial to fulfilling NDIC’s mandate, particularly in orderly bank liquidation. He praised external solicitors for their efforts, noting that their contributions have improved legal diligence, judicial decisions, and public awareness of deposit insurance in Nigeria.
