The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation of Heritage Bank following the Central Bank of Nigeria’s (CBN) revocation of the bank’s operational license.
The NDIC has guaranteed that depositors will receive up to N5 million in insured deposits.
In a statement, Bashir Nuhu, Director of Communication & Public Affairs, outlined the steps being taken to manage the liquidation and safeguard depositors’ interests.
“Following the revocation of the banking license of Heritage Bank Plc by the Central Bank of Nigeria (CBN) today, June 3, 2024, and the appointment of the Nigeria Deposit Insurance Corporation (NDIC) as the Liquidator, pursuant to Section 12(2) of BOFIA, 2020, the Corporation wishes to announce to depositors of the bank in particular and the banking public in general, as follows,” said Nuhu.
The CBN revoked Heritage Bank’s license on June 3, 2024, and appointed NDIC as the liquidator. The liquidation process began immediately, as stipulated by the NDIC Act 2023, Section 55 sub-section 1 & 2.
“Depositors with accounts within the banking industry will be paid up to N5 million using their Bank Verification Number (BVN) to locate alternate accounts,” Nuhu stated.
Depositors with funds exceeding N5 million will receive liquidation dividends once the bank’s assets are realized and debts recovered.
Depositors without alternate bank accounts should visit the nearest Heritage Bank branch with proof of account ownership, verifiable ID, and their BVN. Alternatively, depositors can file claims online via the NDIC website: NDIC Claims Page.
Creditors should file claims at the nearest branch or online.
Debtors with outstanding loans are advised to contact the NDIC’s Asset Management Department for repayment arrangements.
Nuhu reassured the public of the safety of funds in all licensed banks, encouraging continued confidence in the banking system.
