The Nigeria Deposit Insurance Corporation (NDIC) last week commenced the sale of assets of liquidated microfinance banks in the country.
The exercise, findings show, was part of efforts of the corporation to repay depositors of defunct microfinance houses.
BusinessWorld Intelligence revealed that NDIC had earlier directed some auctioneers to auction the properties of the closed MFBs on its behalf.  The affected banks in Lagos State include, Omni MFB, Unique MFB, Allstar MFB, among others. Information has it that the exercise is being carried out in all the affected states of the federation.
Earlier, NDIC had advertised in newspapers, advising interested organisations, individuals and corporate bodies to contact auctioneers to bid.
Investigation revealed that cars, generators, office chairs, air conditioners (AC), among other office fittings were auctioned for sale.
When BusinessWorld visited the defunct Omni MFB last week, people were seen within the bank premises, showing interest in acquiring the assets. Generator, cars, chairs, office fittings, among others were auctioned at the bank.
One of NDIC officials who spoke on anonymity said the corporation is doing everything possible to repay depositors of closed MFBs. The officer added that NDIC has started repayment since December, last year, and will not relent until all depositors are repaid.
The NDIC official promised affected depositors that they will all be paid, adding that “although, there must be evidence to proof that a person hold an account in the liquidated bank.”
Stating that those who have over N200,000 in MFBs will be paid in two instalment, he said “ in the first instalment, we will pay N200,000 to such person, while the remaining would be paid in the second instalment, after the assets of the banks must have been sold.”