CBN Discloses Amount Paid to Insured, Uninsured Depositors of Failed Banks in 2025
- The CBN said 6,422 insured depositors received N3.31 billion in the first half of 2025, adding that cumulative payouts to insured depositors have crossed N66 billion
- Uninsured depositors also received payments, with cumulative disbursements exceeding N137 billion for commercial banks
- The CBN said the liquidation process prioritises guaranteed payouts, asset recovery, and settlement of uninsured deposits above coverage limits
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
The Central Bank of Nigeria (CBN) has disclosed that 6,422 insured depositors of 651 failed financial institutions were paid a total of N3.31 billion in the first half of 2025.
The disclosure was contained in the apex bank’s latest Financial Stability Report, which detailed payments made to depositors of banks currently in liquidation, Vanguard reported.
Source: UGC
According to the report, the 651 financial institutions under liquidation include 50 commercial banks, 546 microfinance banks, and 55 primary mortgage banks.
The CBN said that N2.94 billion was paid to 6,127 insured depositors of closed commercial banks, while N30 million was paid to 285 insured depositors of microfinance banks during the review period. This compares with N39.54 billion and N10 million paid to 565,490 and 158 depositors of commercial and microfinance banks, respectively, as of December 2024.
Over 1 million insured depositors paid
On a cumulative basis, the apex bank stated that N60.97 billion had been paid to 1,152,146 insured depositors of 50 commercial banks, while N5.17 billion had been disbursed to 135,943 insured depositors of 546 microfinance banks currently in liquidation.
The report also showed that 10 insured depositors of primary mortgage banks received N3.44 million in the first half of 2025, compared with N1.97 million paid to six depositors in the second half of 2024.
Cumulatively, N368.08 million has been paid to 2,703 insured depositors of 55 closed primary mortgage banks.
Uninsured depositors also settled – CBN
Beyond insured depositors, the CBN revealed that N3.32 billion was paid to uninsured depositors of failed commercial and microfinance banks during the period.
This included N31.16 billion paid to uninsured depositors of commercial banks and N1.64 million paid to those of microfinance banks.
Cumulative payments to uninsured depositors stood at N137.12 billion for commercial banks and N248.90 million for microfinance banks as of the end of June 2025.
No payments were made to uninsured depositors of primary mortgage banks during the first half of 2025, leaving cumulative payments unchanged at N261.99 million.
The CBN explained that uninsured deposits refer to funds exceeding the maximum deposit insurance coverage. It added that the liquidation process focuses on paying guaranteed sums, recovering outstanding debts, selling physical assets, and paying liquidation dividends, with priority given to uninsured deposits above the insured limits of N5 million or N2 million, depending on the institution.
Source: Getty Images
How to report banks, financial institutions – CBN
Legit.ng earlier reported that the CBN had outlined clear steps for customers to report banks and financial institutions over issues such as wrongful debits or credits, failed transactions, and excessive charges.
The apex bank dedicated phone numbers and online platforms for customer complaints, a move it said was designed to promote transparency and accountability in Nigeria’s banking sector while ensuring faster resolution of customer issues.
Nigerians are encouraged to use these new channels to safeguard their rights, resolve grievances promptly, and support fair banking practices.
Source: Legit.ng
