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 Liquidation Dividends
Liquidation dividend is any sum paid to stakeholders ratably out of the estate of a bank in liquidation to creditors, shareholders and in case of depositors amounts in excess of the insured deposit as specified by the law.
1. Payment of Liquidation Dividend to Depositors
The sum of -N-30.356 billion had been declared as liquidation dividend at rates
varing between 5 kobo to 100 kobo per Naira by 32 out of the 43 banks in-liquidation.
Out of the amount declared, a total sum of -N-13.312 billion had been paid out
to the depositors.
This figure represents 44% of the total amount declared so far. Eleven (11) banks, namely
ABC Merchant Bank Limited, Alpha Merchant Bank Plc., Amicable Bank of Nigeria Plc.,
ICON Ltd. (Merchant Bankers), Kapital Merchant Bank Limited, Nigeria Merchant Bank Limited,
Pan African Bank Ltd., Premier Commercial Bank Ltd., Continental Merchant Bank Ltd.,
Rims Merchant Bank Ltd. and Merchant Bank of Africa Ltd declared 100% dividend on
their total deposits liabilities meaning that depositors' claims are paid in full
or fully provided for.
You can click Deposit Pay-Out
for more information on Liquidation Dividend paid.
2. Payment of Liquidation Dividend to General Creditors/Shareholders
In addition to the 100% dividend declared by the five (5) banks, a summary of
Liquidation Dividend declared for Creditors and/or Shareholders can be viewed
by clicking
1. Creditors
2. Shareholders.
For more information, please read the following advertisments made in some of the dailies:
(1) Notice to depositors of Merchant Bank of Africa (In Liquidation)
(2) Notice to Depositors of Banks in Liquidation
(3) Notice to General Contractors of ALPHA MERCHANT BANK PLC (In-Liquidation)Filing of Claim for Payment of Liquidation Dividend To General Creditors
(4) Notice to depositors of CONTINENTAL MERCHANT BANK PLC (CMB) (In-Liquidation)
(5) Notice to depositors of ALLIED BANK OF NIGERIA (ABN) PLC (In-Liquidation)
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