Banking

NDIC begins liquidation of Heritage Bank

The Nigeria Deposit Insurance Corporation (NDIC) says it has started the liquidation process of Heritage Bank with immediate verification and payment of insured deposits to bank depositors.

This followed the revocation of Heritage Bank’s licence by the Central Bank of Nigeria (CBN) on Monday, June 3, 2024.

The NDIC Director of Communications and Public Affairs, Bashir Nuhu, in a statement on Monday, said relevant laws necessitated immediate actions to safeguard depositors’ funds.

Nuhu stated: “Following the revocation of the banking licence of Heritage Bank Plc by the Central Bank of Nigeria (CBN) today, June 3, 2024, and the appointment of the Nigeria Deposit Insurance Corporation (NDIC) as the liquidator, pursuant to Section 12(2) of BOFIA, 2020,

“The corporation wishes to announce to depositors of the bank in particular and the banking public in general, as follows:

“The NDIC has commenced the Liquidation of Heritage Bank Plc in accordance with Section 55 sub-section 1 & 2 of the NDIC Act 2023.

CBN revokes Heritage Bank licence, says lender fails recovery process 

“The corporation has also commenced the liquidation process of the failed bank with immediate verification and payment of insured deposits to the bank depositors.”

He further explained the payment options to various categories of the bank’s depositors, saying: “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 in excess of N5 million will be paid liquidation dividend upon realisation of the bank’s assets and recovery of debts owed to the bank.”

Nuhu enjoined all depositors of the defunct bank without alternate bank accounts in the industry to visit the nearest branch of the bank with proof of account ownership and verifiable means of identification.

The NDIC spokesman listed the required documents to include a driver’s license, permanent voter’s card, National Identity Card, alongside an alternate account and BVN for the verification of deposits, and subsequent payment of insured sums.

He added that depositors could also file online claims by visiting the NDIC website, download, fill the claims forms, and upload the required documentation.

He also advised creditors 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,” Nuhu noted.

The NDIC spokesperson also urged debtors who had not completed repayment of loans to contact the Corporation’s Asset Management Department (AMD).

He said: “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 Star

Segun Ojo

Recent Posts

For defiling minor, cleric bags life imprisonment

An Ikeja Sexual Offences and Domestic Violence Court on Monday sentenced an Islamic cleric, Alani…

21 mins ago

Govt official arrested over 400 sextapes with president’s sister, ministers’ wives, others

The Director General of the National Financial Investigation Agency (ANIF) in Equatorial Guinea, Baltasar Engonga,…

25 mins ago

Atiku to Tinubu: Your economic policy hurting Nigerians

Former Vice President Atiku Abubakar has decried the poor handling of Nigeria’s economy by the…

36 mins ago

Apapa Customs generates N1.8trn revenue in 10 months

The Apapa Command of the Nigeria Customs Service (NCS) in Lagos State has generated N1.8…

56 mins ago

Tinubu orders release of minors, vows to punish officials for infractions

President Bola Tinubu has ordered immediate release of all minors currently facing charges over their…

56 mins ago

Air Peace Abuja-bound flight makes air return over technical fault

Air Peace Limited, on Monday, November 4, 2024, said its 12:50 p.m. flight from Benin…

1 hour ago

This website uses cookies.