The Nigeria Deposit Insurance Corporation (NDIC) begins processes for depositor payment and liquidation after the Central Bank of Nigeria (CBN) revokes the licences of 46 microfinance banks. The NDIC says the affected institutions have stopped operating as licensed financial institutions and are no longer authorised to carry out banking business in Nigeria. Multiple outlets report that NDIC is taking over the banks as liquidator in line with relevant Nigerian laws, including provisions cited under the Banks and Other Financial Institutions Act (BOFIA) and the NDIC Act. Following the revocation, NDIC moves to manage the closure and liquidation steps tied to protecting depositors. The corporation also issues warnings to the public against engaging in illegal transactions involving the revoked banks. The reporting aligns on the key sequence: CBN issues licence revocations for 46 microfinance banks, NDIC assumes liquidation/handling responsibilities, and NDIC starts payout arrangements for eligible depositors.