The Nigerian Deposit Insurance Corporation (NDIC) has begun liquidating Heritage Bank after the Central Bank of Nigeria (CBN) revoked its operating license. This move safeguards depositors’ funds. The CBN revoked the license on Monday, citing the bank’s failing financial performance despite interventions. They deemed this action necessary to maintain financial stability.


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Appointed as the liquidator, the NDIC assures depositors that their insured funds are safe. Those with accounts at other banks can receive up to N5 million through a verification process using their Bank Verification Number (BVN).


For those without alternate accounts, the NDIC has outlined a clear claim process. Depositors can visit their nearest Heritage Bank branch with valid identification and their preferred account details for verification and reimbursement. An online claim option is also available on the NDIC website.

The NDIC urged creditors to file claims through designated channels, with payments being settled after depositors. Existing debtors of Heritage Bank are advised to continue fulfilling their loan repayment obligations.

The NDIC remains committed to depositor protection and urges the public to maintain trust in the banking system. Licensed banks, the corporation assures, continue to operate safely and securely.

As the liquidation process unfolds, the NDIC is expected to provide further details regarding timelines and claim procedures. We will update this story with any new information.