The Nigeria Deposit Insurance Corporation (NDIC) has announced that depositors of the defunct Heritage Bank with balances exceeding Five Million Naira have been paid the insured sum of Five Million Naira.
Depositors with amounts beyond this limit will receive their remaining balances as liquidation dividends once the bank’s assets are realized and debts recovered.
In a significant step forward, the NDIC facilitated these payments directly through BVN-linked alternate accounts, eliminating the need for depositors to visit NDIC offices or complete additional forms.
This move represents a major advancement in the NDIC’s efforts to expedite deposit reimbursement, with approximately 82.36% of insured deposits already settled.
The remaining 17.64% of insured deposits are yet to be disbursed. These funds are primarily for accounts with post-no-debits (PND) instructions, missing BVNs, or accounts subject to KYC limits.
The NDIC is actively reaching out to these depositors via phone and text messages to complete their verification.
Following the Central Bank of Nigeria’s revocation of Heritage Bank’s license on June 3, 2024, the NDIC was appointed as the bank’s liquidator, in line with BOFIA 2020 and NDIC Act 2023 provisions.
The Corporation promptly began verifying and paying insured deposits within just four days of the bank’s closure.
Verification can be conducted online at [NDIC’s claims page](http://www.ndic.gov.ng/claims) or at any of the Corporation’s offices.
The NDIC is also working on recovering debts and liquidating the bank’s assets to facilitate timely payments to uninsured depositors and creditors as per legal priorities.
Despite the progress, the NDIC emphasizes that payments beyond the insured amount are contingent on asset realization and may be made as liquidation dividends.
The Corporation remains dedicated to safeguarding depositors’ funds and assures the public of the stability of other banks.
For inquiries, contact the NDIC Claims Resolution Department at [email protected] or call on weekdays between 9:00 a.m. and 5:00 p.m. at the following numbers: 0810 422 0807, 0810 931 3326, 0903 819 7064, 0906 465 7140, and 0903 727 3810.
