The Nigeria Deposit Insurance Corporation (NDIC) has announced the commencement of depositors’ verification and claims processing for customers affected by the recent revocation of the operating licences of 46 Microfinance Banks (MFBs) by the Central Bank of Nigeria (CBN).
The development follows the CBN’s decision on July 1, 2026, to withdraw the operating licences of the affected microfinance banks, with the NDIC acting as the official liquidator responsible for settling insured depositors and managing the liquidation process.
NDIC Staff Begin Verification Nationwide
In a statement issued after its earlier announcement on the licence revocation, the NDIC said its officials have commenced verification exercises at the offices of the affected microfinance banks across Nigeria.
The Corporation explained that the exercise is aimed at ensuring eligible depositors receive their insured deposits through a seamless verification and payment process.
How to Submit Your NDIC Claim Online
If your microfinance bank was among the 46 banks whose licences were revoked, you can submit your claim online through the Nigeria Deposit Insurance Corporation (NDIC).
Official NDIC Pre-Verification Claims Form:
https://ndic.gov.ng/ndic-pre-verification-claims-form
Alternatively, you can visit the NDIC website at:
Once on the website, type “Pre-Verification Claims Form” into the search bar, open the form, and complete all the required information accurately.
Full List of the 46 Affected Microfinance Banks
The NDIC has also published the names and registered addresses of all the affected microfinance banks.
You can view the complete list here:
Before beginning your claim, confirm that your bank appears on the official list.
Documents You Should Have Ready
To make your verification process easier, ensure you have the following:
- Proof of account ownership.
- Your Bank Verification Number (BVN).
- One recent passport photograph.
- A valid means of identification such as:
- National Identity Card
- Permanent Voter’s Card (PVC)
- Driver’s Licence
- International Passport
If Your BVN Was Already Linked
The NDIC explained that depositors whose BVNs were linked to their accounts in the failed microfinance banks will receive payment through another bank account linked to the same BVN in an existing commercial bank.
This means many depositors may not need to visit the bank physically if their information is complete and verified.
Need Help? Contact NDIC
If you have questions about your claim or encounter any challenges, you can contact the NDIC through the following official telephone numbers:
- 09037273810
- 09038197064
- 08104220807
- 09064657140
You may also visit the nearest NDIC office for assistance with your verification and claims process.
Depositors with BVN Will Receive Payment Through Alternative Bank Accounts
According to the NDIC, depositors whose Bank Verification Numbers (BVNs) were linked to their accounts in the failed microfinance banks will receive their payments through alternative accounts they maintain with existing licensed banks.
The Corporation said this arrangement is expected to speed up the payment process for eligible customers without requiring additional documentation in many cases.
What Depositors Without BVN Linkage Should Do
For customers whose BVNs were not linked to their accounts before the banks were closed, the NDIC advised them to visit the offices of the affected microfinance banks with the following documents:
- Proof of account ownership
- One recent passport photograph
- A valid means of identification, such as:
- National Identity Card
- Permanent Voter’s Card
- Driver’s Licence
- International Passport
- Their Bank Verification Number (BVN)
The Corporation stated that these documents will be used to verify ownership before payments are processed.
NDIC Introduces Online Claims Submission
To make the claims process easier, the NDIC has also provided an online option for affected depositors.
Customers can visit the NDIC website and complete the Pre-Verification Claims Form by searching for “Pre-Verification Claims Form” on the website or by accessing the dedicated online claims portal.
The Corporation encouraged depositors to provide accurate information to avoid delays during verification and payment.
Depositors Can Visit NDIC Offices
Apart from online applications, the NDIC said affected customers may also visit the nearest NDIC office to submit their claims and receive assistance throughout the verification process.
Officials will provide guidance on the documentation required and the next steps toward receiving insured deposits.
Support Lines Available
The Corporation has also opened dedicated telephone lines to respond to enquiries from depositors seeking clarification about the verification and payment process.
Customers experiencing challenges are encouraged to contact the NDIC through its official communication channels for assistance.
Background
The verification exercise follows the Central Bank of Nigeria’s decision to revoke the operating licences of 46 Microfinance Banks after determining that they no longer met the regulatory requirements to continue operating as licensed financial institutions.
Following the revocation, the NDIC was appointed as the official liquidator to oversee the orderly closure of the affected banks, verify depositors, settle insured deposits, and recover assets in accordance with the provisions of the Banks and Other Financial Institutions Act (BOFIA) 2020 and the NDIC Act 2023.
What Affected Depositors Should Know
The NDIC urged all customers of the affected microfinance banks to participate in the verification exercise as soon as possible to facilitate prompt payment of insured deposits.
The Corporation also advised depositors to rely only on official NDIC communication channels for updates regarding the liquidation process and the full list of affected microfinance banks and their registered addresses.