Defunct Peak Merchant Bank Depositors, Staff to Get Liquidation Dividend as NDIC Commences Verification

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In its role as the official Liquidator of failed banks in Nigeria, the Nigeria Deposit Insurance Corporation (NDIC) is poised to initiate the first round of liquidation dividend payments to depositors and former staff of the now-defunct Peak Merchant Bank.

Bashir A. Nuhu, the Director of Communication and Public Affairs at NDIC, has issued a statement confirming the readiness of the corporation to carry out this important task.

He continues, the forthcoming verification exercise will provide depositors of the defunct bank with the opportunity to review and confirm their account details and balances as they stood at the time of the bank’s closure.

Nuhu noted that all eligible stakeholders with claims related to the defunct Peak Merchant Bank are urged to participate in this process. Starting from Monday, September 18, 2023, and continuing until October 16, 2023. He urged all depositors and ex-staff members to visit any NDIC office or access the NDIC website at to initiate the verification of their claims.

Additionally, the completed verification forms can be submitted via email to, he added.

“This initiative by NDIC aims to ensure that the depositors and ex-staff members of the defunct Peak Merchant Bank receive their rightful liquidation dividends in an efficient and transparent manner.

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