The Nigeria Deposit Insurance Corporation (NDIC) has called on external solicitors to assist in recovering debts and managing failed bank assets.
NDIC Managing Director, Bello Hassan, made this appeal in Abuja on Thursday during a Sensitization Seminar for External Solicitors aimed at strengthening cooperation.
Hassan emphasized that external solicitors play a crucial role in debt recovery and asset management, which ensures financial stability within Nigeria’s banking sector.
Following Heritage Bank’s closure, NDIC engaged new external solicitors to navigate legal complexities and facilitate a smooth liquidation process for affected depositors.
“I urge all external solicitors to continue their diligent efforts in assisting NDIC with debt recovery and efficient asset realization,” Hassan stated.
He explained that some solicitors had not participated in previous sensitization programs, making the seminar necessary for reinforcing NDIC’s strategic objectives.
“The recent failure of Heritage Bank highlights the complex nature of bank liquidation and the critical need for external legal collaboration,” he added.
NDIC stressed that legal expertise remains essential in managing bank failures, ensuring depositors’ protection, and maintaining stability in Nigeria’s financial sector.
