The Nigeria Deposit Insurance Corporation (NDIC) has successfully auctioned off the assets of the defunct Heritage Bank, including landed properties and chattels, as part of its statutory mandate under Section 62 (1)(d) of the NDIC Act, 2023. The proceeds from the sale will be used to reimburse depositors with balances exceeding the insured limit of N5 million, with further payments to be made as additional recoveries are secured.
NDIC Managing Director, Bello Hassan, disclosed this during the corporation’s Special Day at the ongoing 46th Kaduna International Trade Fair. Represented by the Kano Zonal Office Comptroller, Ahmad Umar, Hassan reassured the public of NDIC’s commitment to protecting depositors and maintaining financial stability.
He emphasised that depositors who have not yet received their payments should come forward with the necessary documentation to verify account ownership.
“NDIC has implemented a transparent and efficient process for depositors to claim their funds, which can be submitted through the corporation’s official website, email, or social media platforms,” he said.
Following the revocation of Heritage Bank’s licence on 3rd June 2024, NDIC reimbursed depositors within four days using their Bank Verification Numbers (BVN). Those with alternate bank accounts have received up to the insured amount of N5 million per depositor. However, depositors without BVNs or those with Post No Debit (PND) instructions on their accounts are being contacted to complete verification.
Hassan reiterated that once all depositors are fully reimbursed, the corporation will commence payments to creditors of the defunct bank. He urged affected depositors to visit the nearest branch of the closed bank with proof of account ownership and valid identification to facilitate payment.
NDIC remains dedicated to safeguarding depositors’ interests and ensuring a stable banking system, reaffirming its commitment to promoting financial inclusion and public confidence in Nigeria’s financial sector.
