The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation of Heritage Bank, assuring it will pay depositors of the failed bank N5 million in insured deposits, it said in an official statement.
Following the revocation of the banking license of Heritage Bank Plc by the apex bank, the Nigeria Deposit Insurance Corporation (NDIC) was appointed as the liquidator, pursuant to Section 12(2) of BOFIA, 2020.
Reacting to the development, the NDIC said in a statement that it has commenced the liquidation of the failed bank. “In accordance with Section 55 sub-sections 1 & 2 of the NDIC Act 2023, the corporation has commenced the liquidation process of the failed bank with immediate verification and payment of insured deposits to the bank depositors.
“Depositors of the bank that have an 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. Depositors with funds in excess of N5 million will be paid a liquidation dividend upon realization of the bank’s assets and the recovery of debts owed to the bank.
“Verification and Payment of Depositors without Alternate Bank Account: All depositors of the defunct bank without alternate bank account in the industry are advised as follows:
“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, or file an online claim by visiting the NDIC website claims page on www.ndic.gov.ng/claims/claims, downloading and filling out the claims forms, and uploading the required documentation.
Creditors are also advised to visit the nearest branch of the bank to file their claims, or via the online platform. Please note that the process of paying creditors will commence immediately after all depositors have been paid.
Debtors that are yet to complete the repayment of loans are advised to contact the corporation’s Asset Management Department (AMD). Visit the NDIC website for more details.
“The NDIC wishes to assure 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.” #NDIC Begins Liquidation of Heritage Bank, to Pay Depositors Naira Steadies as Banks Issue Update on FX Purchase
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