In its continued commitment to ensuring that depositors of the defunct Heritage Bank are fully reimbursed, the Nigeria Deposit Insurance Corporation (NDIC) has declared first tranche of liquidation dividends totaling N46.6 billion from the proceeds of sales of the defunct bank’s assets and recovery of debts owed to the defunct institution.
The Acting Head, Communication and Public Affairs of the commission, Hawwau Gambo, in a statement issued at the weekend indicated that payment of the first tranche of the liquidation dividends at the rate of 9.2 kobo per Naira on a pro-rata basis to the depositors whose account balances exceeded the NDIC’s maximum insured limit of N5 million as at the time of the bank’s closure commenced last Friday.
It would be recalled that following the revocation of the Heritage Bank’s operating license by the Central Bank of Nigeria (CBN) on June 3, 2024, the NDIC promptly began reimbursing insured deposits of up to N5 million per depositor.
To ensure seamless and efficient payment process, the corporation used the depositors’ Bank Verification Numbers (BVNs) to locate alternate account numbers of the depositors in other banks and automatically credited them with the insured amount.
- Advertisement -
In addition, the Corporation leveraged the existing records used in the payment of the insured amount to facilitate the disbursement of first tranche of liquidation dividends. Consequently, it advised any depositor with amount in excess of N5 million, who was paid insured amount but did not receive the payment of the liquidation dividends to visit its nearest office or contact it on the telephone numbers for advice and necessary action.
In the meantime, the corporation advised depositors of the defunct banks who did not maintain alternative bank account and were not paid the insured amount to visit its nearest office or go to the claims page on the corporation’s website to download, complete and submit deposit verification form for the payment of the insured amount and where applicable, the first tranche of their liquidation dividends.
The Corporation reassured the public that this payment represented only the first tranche of liquidation dividends, adding that additional payments will follow as more assets of the defunct bank are realized and outstanding debts.
