NDIC begins final liquidation of 89 failed microfinance and mortgage banks

On 2026-04-16, the Nigeria Deposit Insurance Corporation said it had begun the final liquidation process for 89 closed microfinance banks and primary mortgage banks in Nigeria. The NDIC said it would petition Federal High Court divisions to obtain dissolution orders and be discharged as liquidator after the affected institutions had been acquired by new owners under purchase-and-assumption agreements.