The Nigeria Deposit Insurance Corporation (NDIC) has begun the process of liquidating Heritage Bank Plc, following the revocation of its operating license by the Central Bank of Nigeria (CBN). As the appointed liquidator, NDIC will verify and pay insured deposits to the bank’s depositors.
According to Bashir Nuhu, NDIC’s Director of Communication & Public Affairs, in a statement issued, the liquidation process is being carried out in accordance with the Banking and Other Financial Institution Act (BOFIA), 2020.
The move aims to ensure that depositors receive their insured funds and to resolve the bank’s assets and liabilities in an orderly manner.
It states, “The Corporation wishes to announce to depositors of the bank in particular and the banking public in general, that it has commenced the liquidation of Heritage Bank Plc.
“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 alternate accounts 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 over N5 million will be paid liquidation dividend upon realisation of the bank’s assets and recovery of debts owed to the bank.”
The corporation advised all depositors of the defunct bank without alternate bank accounts in the industry to visit the nearest branch of the bank for the verification of their deposits and subsequent payment of insured sums.
It advised depositors to provide proof of account ownership, verifiable means of identification such as a driver’s license, permanent voter’s card, National Identity Card, together with their alternate account and Bank Verification Number (BVN).
Alternatively, the depositors should file online claims 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.
NDIC also asked creditors of the bank to visit the nearest branch of the bank to file their claims or via the online platform.
“Please note that the process of payment of creditors will commence immediately after all depositors have been paid,” it stated.
Furthermore, it advised debtors who are yet to complete the repayment of loans to contact the Corporation’s Asset Management Department (AMD). dbtors could 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,” the statement further read.
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