By Prudence Eboagwu-Ijah
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation of Heritage Bank plc following the revocation of its banking license by the Central Bank of Nigeria.
This was disclosed by the Director, Communications and Public Affairs Bashir Nuhu in a press release sent to Frontline News on Monday.
This liquidation process which has commenced entails immediate verification and payment of insured deposits to the bank depositors adding that the liquidation process is in accordance with Section 55 sub-section 1 & 2 of the NDIC Act 2023.
The NDIC added that depositors of the bank that have 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.
While depositors with funds in excess of N5 million will be paid liquidation dividend upon realization of the bank’s assets and recovery of debts owed to the bank.
NDIC advised all depositors of the defunct bank without alternate bank account to 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.
The corporation further urged depositors of the failed bank to file online claim by visiting the NDIC website claims page on www.ndic.gov.ng/claims/claims, download and fill the claims forms and upload the required documentation.
The NDIC assured the entire banking public of its commitment to the continued safety of depositors’ funds in all licensed banks, urging all depositors to continue their banking businesses without fear as banks whose licenses have not been revoked remain safe and sound.
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