Heritage Bank depositors to receive up to N5m as NDIC starts liquidation

The Nigeria Deposit Insurance Corporation (NDIC) announced connected Monday the commencement of the liquidation process for Heritage Bank Plc, pursuing the revocation of the bank’s operating licence by the Central Bank of Nigeria (CBN).

NDIC’s spokesperson, Bashir Nuhu, said successful a connection connected Monday that the liquidation is successful accordance with Section 55 Sub-sections 1 & 2 of the NDIC Act 2023.

NDIC stated that depositors of the slope who person alternate accounts wrong the manufacture volition beryllium paid up to the insured magnitude of N5 cardinal per depositor utilizing their Bank Verification Number (BVN) to find their alternate account.

It added that depositors with funds successful excess of N5 cardinal volition beryllium paid liquidation dividends upon the realisation of the bank’s assets and the betterment of debts owed to the bank.

“Following the revocation of the banking licence of Heritage Bank Plc by the Central Bank of Nigeria (CBN) today, June 3, 2024, and the assignment of the Nigeria Deposit Insurance Corporation (NDIC) arsenic the liquidator, pursuant to Section 12(2) of BOFIA, 2020, the corp wishes to denote to depositors of the slope successful peculiar and the banking nationalist successful general, arsenic follows,” NDIC connection reads.

“The NDIC has commenced the liquidation of Heritage Bank Plc: In accordance with Section 55 sub-section 1 & 2 of the NDIC Act 2023, the corp has commenced the liquidation process of the failed slope with contiguous verification and outgo of insured deposits to the slope depositors.

“Depositors of the slope that person alternate accounts wrong the manufacture volition beryllium paid up to the insured magnitude of N5 cardinal per depositor utilizing their Bank Verification Number (BVN) to find their alternate account. While depositors with funds successful excess of N5 cardinal volition beryllium paid liquidation dividends upon realisation of the bank’s assets and betterment of debts owed to the bank.”

NDIC, however, urged depositors without an alternate slope relationship successful the manufacture to sojourn the nearest subdivision of the slope with impervious of relationship ownership and a verifiable means of identification.

All depositors of the defunct slope without an alternate slope relationship successful the manufacture are advised arsenic follows:

1) Visit the nearest subdivision of the slope with impervious of relationship ownership and verifiable means of recognition specified arsenic a driver’s license, imperishable voter’s card, National Identity Card, unneurotic with their alternate relationship and Bank Verification Number (BVN) for the verification of their deposits and consequent outgo of insured sums, oregon record an online assertion by visiting the NDIC website claims leafage connected www.ndic.gov.ng/claims/claims, download and capable retired the claims forms, and upload the required documentation.

2) Verification and Payment of Creditors: Creditors are besides advised to sojourn the nearest subdivision of the slope to record their claims oregon usage the online platform. Please enactment that the process of outgo to creditors volition commence instantly aft each depositors person been paid. Debtors’ Repayment of Loans: Debtors who person yet to implicit the repayment of loans are advised to interaction the Corporation’s Asset Management Department (AMD). Visit the NDIC website for much details,” the connection added.

NDIC besides guaranteed depositors the information of their funds, stating, “The NDIC wishes to guarantee the full banking nationalist of its committedness to the continued information of depositors’ funds successful each licenced banks. As such, depositors are urged to proceed their banking businesses without fear, arsenic banks whose licences person not been revoked stay harmless and sound.”