The Central Bank of Nigeria (CBN) has revoked the operating licences of 21 Primary Mortgage Banks (PMBS) as well as one microfinance bank and directed the Nigeria Deposit Insurance Corporation (NDIC) to commence the process of orderly winding up of the affairs of the affected institutions.
The revocation was communicated by the CBN via its gazettes dated 14 and 19 November, 14 and 19, 2014.
THISDAY reports that the NDIC had simultaneously been appointed the provisional liquidator to wind up the affairs of the closed financial institutions.
Consequently, the corporation said it would soon make public announcement/publication on the verification and payment of insured deposits for depositors, creditors and shareholders of the affected banks.
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