NDIC Provides Reasons For Non-Payment To Heritage Bank Customers

NDIC Provides Reasons For Non-Payment To Heritage Bank Customers....KINDLY READ THE FULL STORY HERE▶

The Nigeria Deposit Insurance Corporation (NDIC) has revealed that delays in paying some customers their insured deposits are due to discrepancies in their account information, particularly issues with Bank Verification Numbers (BVN) and account names.

Speaking to reporters in Abuja on Sunday, NDIC Managing Director Bello Hassan explained that while substantial payments have been made to depositors of the defunct bank whose accounts were BVN-linked, others are facing delays.

Hassan encouraged affected depositors to visit NDIC’s website and complete verification forms to facilitate their payments, including those without BVN-linked alternate accounts.

“We began processing payments on June 6 and have disbursed significant amounts to customers,” Hassan stated. “Our approach involves leveraging BVN data to trace alternate accounts in other banks and ensure depositors receive their insured funds. However, discrepancies in names and other details have posed challenges in some cases.”

He urged customers yet to receive alerts in their alternate accounts to promptly complete verification forms for resolution.

Regarding depositors with balances exceeding five million naira, Hassan confirmed they would receive liquidation dividends. He also noted NDIC’s ongoing efforts to sell physical assets and recover loans granted to the defunct bank to fund these dividends.

“We will not wait until full recovery before paying dividends,” Hassan affirmed. “As recoveries progress, we will announce liquidation dividends, ensuring affected depositors are informed to expect alerts in their accounts.”

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