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HomeNewsLiquidation: NDIC Begins Verification of Heritage Bank Customers 

Liquidation: NDIC Begins Verification of Heritage Bank Customers 

Liquidation: NDIC Begins Verification of Heritage Bank Customers

Following the revocation of the banking licence of Heritage Bank Plc by the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC) said it has commenced the liquidation of the bank with immediate verification and payment of insured deposits to the bank’s depositors.

The NDIC, in a statement issued on Monday, said it commenced the liquidation process in pursuant to Section 12(2) of BOFIA, 2020, and in accordance with Section 55 sub-section 1 & 2 of the NDIC Act 2023.

To be verified, the Corporation said: “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.”

For the verification and payment of depositors without alternate bank account, the NDIC urged them 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 statement by the Director, Communication and Public Affairs of the NDIC, Bashir A. Nuhu, noted that claims can also be filed online by visiting the NDIC website claims page. Depositors are expected to download and fill the claim forms and upload the required documentation.

Creditors were also advised to visit the nearest branch of the bank to file their claims or via the online platform, adding that the process of payment of creditors will commence immediately after all depositors have been paid.

The NDIC also urged debtors that are yet to complete the repayment of loans to contact the Corporation’s Asset Management Department (AMD).

“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,” the insurer stated.

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