NDIC Auctions Heritage Bank’s Assets, Assures Depositors of Reimbursement
The Nigeria Deposit Insurance Corporation (NDIC) has announced the successful and transparent auction of the defunct Heritage Bank’s assets, including landed properties and chattels. The proceeds from the ongoing sales will be applied towards settling depositors with balances above the insured limit of N5 million, with additional payments to follow as further recoveries are made.
Represented by the Kano Zonal Office Comptroller, Ahmad Umar, NDIC Managing Director and Chief Executive, Bello Hassan, reiterated the corporation’s commitment to ensuring a stable financial environment that safeguards depositors and builds public confidence. He emphasized that this effort enables businesses to thrive and contribute to Nigeria’s economic development.
According to Hassan, the corporation’s mission aligns with its tagline, “Protecting your bank deposits,” aimed at promoting financial inclusion and stability by reassuring Nigerians of the security of their savings. He referenced the swift action taken after the revocation of Heritage Bank’s operating licence on June 3, 2024. Within four days, NDIC reimbursed depositors using their Bank Verification Numbers (BVN).
Hassan further stated that insured amounts had been paid to all eligible depositors except those with no alternate bank accounts, those whose accounts had Post No Debit (PND) instructions, or those without BVN. NDIC has been reaching out to depositors without BVN through telephone calls and text messages, urging them to come forward for verification.
The NDIC boss reiterated that creditors of the defunct bank would receive payments once all depositors had been fully reimbursed. He encouraged depositors who have yet to receive their payments to provide the necessary documentation supporting ownership of their accounts for prompt reimbursement.
Additionally, NDIC disclosed that depositors with balances exceeding N5 million would also be paid from the liquidation dividends. This announcement was made by Hassan during NDIC’s special day at the ongoing 45th Kano International Trade Fair.
Meanwhile, NDIC has urged bank customers to update their Know Your Customer (KYC) details to ensure smooth transactions and prompt payments in case of bank failures. Speaking at the 2024 NDIC Editors’ Forum, Hassan stressed the importance of updated KYC information in strengthening the Nigerian financial system.
