Section 25: Maximum claim.

(1) In the event of the revocation of the operating license of an insured institution or actual suspension of payment to depositors of such insured institution, a depositor shall receive from the Corporation, under section 4 (a) and in circumstances stipulated in section 17 (7) (a) of this Act, a maximum amount of-
(a) N500,000, in the case of a depositor of an insured institution other than a Microfinance Bank; and
(b) N200,000, in the case of a depositor of a Microfinance Bank:
Provided that in the case of actual suspension of payment, the Corporation shall only make payment under this section with the concurrence of the Central Bank of Nigeria.
(2) Notwithstanding the provisions of subsection (1) and subject to the approval of the Board, the Corporation shall have power, to vary upwards the maximum amount which a depositor shall receive from the Corporation as provided under subsection (1) in respect of deposits of failed insured institutions.
(3) For the purpose of subsection (1), all accounts held in the same right and capacity in one failed insured institution shall be merged as one account.
(4) The payment of the insured sum as provided for under this section shall be without prejudice to the liquidation dividends to be paid to the depositor once the assets of the failed insured institution have been realised.