The Nigeria Deposit Insurance Corporation (NDIC) has given update on the disbursing of funds to depositors of the defunct Heritage Bank, following the Central Bank of Nigeria’s (CBN) revocation of its banking license on June 3, 2024.
According to a statement signed by NDIC’s Director of Communication & Public Affairs, Mr. Bashir A. Nuhu, the corporation within a remarkable four-day period, successfully paid the maximum insured amount of N5 million to depositors, leveraging Bank Verification Numbers (BVN) for direct transfers into alternate accounts.
“This achievement marks a significant 82.36% payout of total insured deposits.
He said, for depositors with balances exceeding N5 million, NDIC has issued initial insured sums, with remaining amounts to be settled as liquidation dividends upon asset realization and debt recovery.
According to him, the corporation is diligently working to recover debts and realize assets for timely reimbursement.
“Depositors with post-no-debits (PND) instructions or lacking BVN are urged to come forward for verification, with online verification available.
Mr. Nuhu further reassured the public of the corporation’s commitment to safeguarding depositors’ funds in all licensed banks, encouraging continued banking activities without fear.
“This prompt payment demonstrates NDIC’s dedication to protecting depositors’ interests and maintaining stability in Nigeria’s banking sector”, he added.