Section 30: Power to withhold deposits on discharge of the Corporation.

(1) The Corporation shall have power to withhold, pending the determination of culpability or otherwise by a tribunal or court of competent jurisdiction, the payment of insured and uninsured deposit claims obtained through or being used in connection with or held in furtherance of criminal activities or where it is satisfied that the depositor had connived with or in any way assisted officials of the failed insured institution or had been a party to or had knowingly benefited from the circumstances which gave rise to the failure of an insured institution.
(2) The Corporation may withhold payment of such portion of the insured deposit of any depositor in a failed insured institution as may be required to provide for the payment of any liability of such depositor to the failed insured institution or its liquidator or receiver, pending the determination and payment of such liability by such depositor or any other person liable.
(3) Payment of an insured deposit to any person by the Corporation shall discharge the Corporation, and payment of a transferred deposit to any person by an insured institution in which a transferred deposit has been made available shall discharge the Corporation and such other insured institution, to the same extent that payment to such person by the failed insured institution would have discharged it from liability from the insured institution.
(4) Where, after the Corporation has given at least three months notice to pay to every depositor by mailing a copy to his last known address appearing in the records of the failed insured institution, or publishing a general notice in at least two national dailies and two electronic media houses with national coverage, notifying insured depositors of the particular failed insured institution of the dates and venue for payment, and any depositor of the failed insured institution who-
(a) fails to claim his insured deposit from the Corporation within six years after the notice of the Corporation has been sent to the depositor or the notice of payment to the depositors is published in two national dailies and electronic media houses, shall forfeit such sums to the Corporation; or
(b) fails within such period to claim or arrange to continue the transferred deposit with the new insured institution, all the rights of the depositor against the failed insured institution or its shareholders or the receivership estate to which the Corporation may have become subrogated shall revert to the Corporation.
(5) The amount of any transferred deposit not claimed within the period stated in subsection (4) (b) shall be refunded to the Corporation.
(6) A court proceeding shall not be commenced against the Corporation in respect of the obligation of the Corporation to make any payment in relation to any deposit held by any person in any failed insured institution after the expiry of the period stipulated in subsection (4).