The Nigeria Deposit Insurance Corporation (NDIC) has announced the commencement of the liquidation process for Heritage Bank, which includes the immediate verification and payment of insured deposits to its depositors.
This action follows the Central Bank of Nigeria (CBN) revoking Heritage Bank’s license on Monday. Mr. Bashir Nuhu, Director of Communications and Public Affairs at NDIC, explained that the corporation is mandated by relevant laws to protect depositors’ funds promptly.
“Following the revocation of Heritage Bank Plc’s banking license by the Central Bank of Nigeria (CBN) on June 3, 2024, and the subsequent appointment of the NDIC as the liquidator under Section 12(2) of BOFIA, 2020, we wish to inform depositors and the general public as follows:
“The NDIC has initiated the liquidation of Heritage Bank Plc in line with Section 55 subsections 1 and 2 of the NDIC Act 2023. The process includes the verification and payment of insured deposits.”
Nuhu detailed the payment procedures for different categories of depositors:
- Depositors with alternate bank accounts will receive up to N5 million per depositor using their Bank Verification Number (BVN) to locate their alternate accounts.
- Those with deposits exceeding N5 million will receive liquidation dividends once the bank’s assets are realized and debts are recovered.
Nuhu advised depositors without alternate bank accounts to visit the nearest Heritage Bank branch with proof of account ownership and a verifiable means of identification, such as a driver’s license, permanent voter’s card, or National Identity Card, along with their BVN for verification and payment of insured sums.
Additionally, depositors can file claims online via the NDIC website by downloading, completing, and uploading the necessary forms and documents. Creditors are also encouraged to visit the nearest bank branch or use the online platform to file their claims. Payments to creditors will commence after all depositors have been compensated.
Nuhu urged debtors to contact the Corporation’s Asset Management Department (AMD) to resolve any outstanding loan repayments.
He reassured the public of NDIC’s commitment to safeguarding depositors’ funds in all licensed banks, encouraging continued confidence in the banking system.
For more information, depositors and creditors can visit the NDIC website.
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