FAILED BANKS LIQUIDATION ACTIVITIES OF THE NIGERIAN DEPOSIT INSURANCE CORPORATION (NDIC) AN EMPIRICAL ANALYSIS

ABSTRACT The aims of this paper is to appraise the Nigerian Deposit Insurance Corporation (NDIC) liquidation activities in failed banks, claims settlement; amount and number of depositors so far paid; reason behind the abandonment of deposits by some depositors; level of liquidation proceeds realized and how it has been managed fairness of bad debt litigation disposition and the adequacy of the insurance deposit. To achieve the above objective I relied on questionnaire, personal interviews and visit to the site; for primary data; from past literature, journals and dailies for the secondary data.  The statistical tools used in the analysis are the simple percentages, tables, pie charts and bar charts. The study revealed the following” 1.NDIC has been delaying in settling both the inured and the uninsured depositors, the delay was found to be attributed to: a.The inadequate preparation by the NDIC in both human and material resources. b.The inability of the depositors to put forward their claim on time for verification. 2.Rigorous claim filing process adopted by NDIC, lack of proper awareness on the side of depositor were found to be chief reason for the abandonment of claims by depositors. 3.A sizeable amount has been realized from sale of fixed assets, not much from debt recovery. 4.The amount realized has not been managed to the interest of depositors, as some amount were not accounted for, while a huge sum was written off as expense.
  TABLE OF CONTENTS Cover page Title page Dedication Acknowledgement Table of content List of tables
CHAPTER ONE 1.0Introduction 1.1Background of the study 1.2Statement of the problem 1.3Objective of the study 1.4Research questions 1.5Significance of the study 1.6Scope of the study 1.7Limitations of the study 1.8Definition of terms References
CHAPTER TWO 2.0Literature review 2.1Overview of bankruptcy and liquidation of firms 2.2Liquidation of firms in bankruptcy 2.3Origin or banking distress in Nigeria 2.4Causes of banking distress in Nigeria 2.5Implication of bank distress in the Nigeria economy 2.6Historical preview of NDIC and its role in the banking industry 2.7Functions of the NDIC 2.8Controversial issues surrounding NDIC operation 2.9Empirical distress resolution options  2.10Comparative analysis of bank distress resolution options  in selected countries of the major continents 2.11The legal frame work of bank liquidation 2.12Liquidation activities in failed banks
CHAPTER THREE 3.0Research methodology 3.1Sources of data 3.2Design of questionnaire 3.3Sample procedure and determination of sample size 3.4Techniques of data analysis 
CHAPTER FOUR 4.0Data presentation, analysis and interpretation 4.1Overview 4.2Presentation of data 4.3Primary data analysis 4.4Test of hypothesis 4.5Interpretation of results
CHAPTER FIVE 5.0Findings 5.1Discussion of findings 5.2Conclusion 5.3Recommendation Bibliography Appendices