Abuja, Nigeria
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the payment of N46.6 billion to depositors of the defunct Heritage Bank from the liquidation of the bank’s assets.
The acting Head of Communication and Public Affairs of NDIC, Hawwau Gambo, announced the development on Sunday.
Gambo said depositors are being paid from the funds realised from the sale of the bank’s assets and debts recovered from the bank’s debtors.
According to her, a liquidation dividend is paid to depositors of a closed bank, beyond the maximum insured limit, using proceeds from asset sales and debt recoveries.
She added that NDIC has fully paid all the depositors, creditors, and that shareholders may also benefit from the liquidation proceeds.
The spokesperson said NDIC began payment of the first tranche of liquidation dividends on April 25, at a rate of 9.2 kobo per naira on a pro-rata basis to depositors with balances exceeding N5 million.
“Depositors with balances exceeding N5 million who did not receive their liquidation dividends should visit the nearest NDIC office,” the spokesperson said.
She also encouraged depositors without alternative bank accounts, who were not paid their insured amount, to visit NDIC offices or download the necessary forms from the agency’s website.
“Depositors must complete and submit a deposit verification form to receive their insured amounts and, where applicable, the first tranche of dividends,” Gambo added.
On June 3, 2024, the Central Bank of Nigeria announced the revocation of the licence of Heritage Bank.
