Nigeria Deposit Insurance Corporation (NDIC) has set out modalities for payment and receipt of insured deposits to the depositors of failed Heritage Bank Plc as the Corporation commences the liquidation of the bank.
It would be recalled that following the revocation of the banking license of Heritage Bank Plc by the Central Bank of Nigeria (CBN) on Monday, June 3, 2024, the apex bank appointed Nigeria Deposit Insurance Corporation (NDIC) as the Liquidator.
NDIC cited that pursuant to Section 12(2) of BOFIA, 2020 and in accordance with Section 55 sub-section 1 & 2 of the NDIC Act 2023, it has decided to announce to
the depositors of the bank in particular and the banking public in general that the Corporation has commenced liquidation process of the failed bank with immediate verification and payment of insured deposits to the bank depositors.
In a statement signed by the NDIC Director, Communication and Public Affairs, Bashir Nuhu, the Corporation stated that: “Depositors of the bank that have alternate account within the industry will be paid up to the insured amount of N5 million per depositor using their Bank Verification Number (BVN) to locate their alternate account. While depositors with funds in excess of N5 million will be paid liquidation dividend upon realization of the bank’s assets and recovery of debts owed to the bank.”
Also, for Verification and Payment of Depositors Without Alternate Bank Account, it advised that all such depositors of the defunct bank should “Visit the nearest branch of the bank with proof of account ownership, verifiable means of identification such as driver’s license, permanent voter’s card, National Identity Card, together with their alternate account and Bank Verification Number (BVN) for the verification of their deposits and subsequent payment of insured sums.”
In the alternative, NDIC directed them to “File online claim by visiting the NDIC website claims page on www.ndic.gov.ng/claims/claims, download and fill the claims forms and upload the required documentation.”
In the case of Verification and Payment of Creditors, it also advised creditors to visit the nearest branch of the bank to file their claims or via the online platform, adding that the process of payment of creditors would commence immediately after all depositors have been paid.
Further, it advised Debtors that are yet to complete the repayment of loans to contact the Corporation’s Asset Management Department (AMD) as well as visit the NDIC website for more details.
The NDIC assured the entire banking public of its commitment to the continued safety of depositors’ funds in all licensed banks and urged depositors to continue their banking businesses without fear as banks whose licenses have not been revoked remains safe and sound.
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