Following the revocation of Heritage Bank Plc's banking licence by the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC) announced that the bank is being liquidated, with quick verification and reimbursement of covered deposits to depositors.
In a statement published on Monday, the NDIC stated that the liquidation procedure has begun in line with Section 12(2) of the BOFIA, 2020, as well as Section 55 sub-sections 1 and 2 of the NDIC Act 2023.
“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.
“Verification and Payment of Depositors Without Alternate Bank Account:
All depositors of the defunct bank without alternate bank account in the industry are advised as follows:
“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 or 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.
“Verification and Payment of Creditors:
Creditors are also advised to visit the nearest branch of the bank to file their claims or via the online platform. Please note that the process of payment of creditors will commence immediately after all depositors have been paid.
“Debtors’ Repayment of Loans:
Debtors that are yet to complete the repayment of loans are advised to contact the Corporation’s Asset Management Department (AMD). Visit the NDIC website for more details.
“The NDIC wishes to assure the entire banking public of its commitment to the continued safety of depositors’ funds in all licensed banks. As such, depositors are urged to continue their banking businesses without fear as banks whose licenses have not been revoked remain safe and sound.”
