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Some depositors who
had their funds trapped in the Integrated Microfinance Bank (IMFB),
Ikeja, on Wednesday, turned the designated venue for the payment of
their funds to a prayer centre.

Joseph Okhotupo, a
depositor with the bank, told the News Agency of Nigeria that there was
need for the prayers for God to intervene in their matter.

The Central Bank of
Nigeria (CBN) had in September revoked the licences of 224 microfinance
banks over corporate governance abuse. Ifeanyi Obiachukwu, a customer
of IMFB, said there was need for the CBN to create more awareness on
the operations of microfinance banks.

Umaru Ibrahim,
acting managing director, Nigeria Deposit Insurance Corporation (NDIC),
had last week said that the corporation would next Monday commence
payment of N18.2 billion to the depositors of the failed microfinance
banks.