Heritage Bank Depositors To Receive Up To N5 Million From NDIC Insurance

Heritage Bank Depositors To Receive Up To N5 Million From NDIC Insurance

The Nigeria Deposit Insurance Corporation (NDIC) has initiated the liquidation process for Heritage Bank, assuring depositors of receiving up to N5 million in insured deposits………… CONTINUE READING

Bashir Nuhu, the Director of Communication & Public Affairs, made this announcement.

Following the revocation of Heritage Bank Plc’s banking license by the Central Bank of Nigeria (CBN) on June 3, 2024, and the appointment of NDIC as the Liquidator under Section 12(2) of BOFIA, 2020, the Corporation has begun the liquidation process in accordance with Section 55 sub-section 1 & 2 of the NDIC Act 2023.

The Corporation will verify and pay insured deposits to depositors, with those having alternate accounts within the industry receiving up to N5 million per depositor using their Bank Verification Number (BVN) to locate their alternate account. Depositors with funds exceeding N5 million will receive liquidation dividends upon the realization of the bank’s assets and the recovery of debts owed.

Depositors without alternate bank accounts are advised to visit the nearest branch of the bank with proof of account ownership and verifiable means of identification, or file an online claim through the NDIC website.