The Nigeria Deposit Insurance Corporation (NDIC) has Commenced the Liquidation of Heritage Bank Plc in accordance with Section 55 sub-section 1 & 2 of the NDIC Act 2023, with immediate verification and payment of insured deposits to the bank depositors.
A statement by the Director Communication and Public Affairs of the NDIC Bashir Nuhu disclosed that 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.
This action follows the revocation of the banking license of Heritage Bank Plc by the Central Bank of Nigeria (CBN) this Monday, June 3, 2024 and the appointment of the Nigeria Deposit Insurance Corporation (NDIC) as the Liquidator. The CBN in an earlier statement by its spokesperson Hakama Sidi Ali pointed out that the action is pursuant to Section 12(2) of BOFIA, 2020.
The NDIC advised all depositors of the defunct bank without alternate bank account in the industry to 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. The other option is to file online claim through the NDIC website claims page: www.ndic.gov.ng/claims/claims, where depositors can download and fill the claims forms and upload the required documentation.
Creditors are also advised by the NDIC to visit the nearest branch of the bank to file their claims or via the online platform.
Debtors that are yet to complete the repayment of loans are advised to contact the Corporation’s Asset Management Department (AMD) or visit the NDIC website for more details.
The corporation assured 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 As such, depositors are urged to continue their banking businesses without fear as banks whose licenses have not been revoked remain safe and sound.
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