NDIC Announces Commencement Of Payments To Heritage Bank Clients

NDIC Announces Commencement Of Payments To Heritage Bank Clients

Depositors of Heritage Bank (in liquidation) are set to receive their insured deposits starting this week, as announced by Mr…….. CONTINUE READING

Bello Hassan, the Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), during a press conference in Abuja.

He noted that the majority, over 99 percent, of the 2.3 million depositors have balances of N5 million or less and will be fully reimbursed.

However, approximately 4000 depositors with balances exceeding N5 million will initially receive N5 million and will subsequently receive further payments as the NDIC recovers assets and loans from debtors.