The Nigeria Deposit Insurance Corporation (NDIC) has commenced the verification of depositors of the 46 microfinance banks whose operating licences were recently revoked by the Central Bank of Nigeria (CBN).

The exercise is aimed at facilitating the refund of deposits trapped in the failed financial institutions.

In a statement issued on Thursday, the NDIC said its officials had been deployed to the offices of the affected microfinance banks across the country to assist depositors and process their claims.

The corporation explained that depositors whose Bank Verification Numbers (BVNs) were linked to their accounts in the failed banks would receive payments through alternative bank accounts maintained with other licensed financial institutions.

However, depositors whose BVNs were not linked to their accounts have been advised to visit the offices of the affected banks with relevant documents, including proof of account ownership, a passport photograph, a valid means of identification such as a driver’s licence, Permanent Voter’s Card, International Passport or National Identity Card, as well as their BVN.

The NDIC also provided an online alternative for filing claims.

According to the corporation, affected depositors can visit its website to complete the Pre-Verification Claims Form by searching for the form on the website and submitting the required details.

In addition, depositors may file their claims through the dedicated online portal or visit the nearest NDIC office for assistance with the verification and claims process.