The Nigeria Deposit Insurance Corporation (NDIC) says it has paid 82.36 per cent of depositors with above N5 million as insured sum in the defunct Heritage Bank.

The NDIC Director of Communication and Public Affairs, Bashir Nuhu, announced this in a statement on Sunday, August 11, 2024.

Nuhu stated that the step underscored the corporation’s commitment to safeguarding depositors’ funds.

Nuhu noted that the payments commenced within four days of the bank’s closure.

According to him, the direct payment method marked a historic shift in the NDIC’s approach to reimbursing Heritage Bank depositors promptly.

He said while the majority of insured deposits had been paid, the NDIC was working to reach the remaining 17.64 per cent of insured depositors.

NDIC lists Heritage Bank’s offices, assets for sale

The NDIC spokesman noted that many of the remaining depositors had accounts with post-no-debit instructions, lacked BVN, or had no alternative accounts.

Nuhu added that the corporation has been engaging Heritage Bank depositors through phone calls and text messages.

He acknowledged the challenges posed by unpaid uninsured deposits, which represent a larger portion of the total deposits.

Nuhu assured the public that the NDIC was working to recover assets and debts to facilitate payments to the depositors through liquidation dividends.

Nuhu added that once all insured and uninsured deposits were settled, NDIC would proceed with payments to creditors according to legal priority.

The NDIC spokesperson reaffirmed the corporation’s dedication to protecting depositors’ funds and urged the public to continue banking confidently.

The Star