NDIC commences liquidation of Heritage Bank

The Nigeria Deposit Insurance Corporation (NDIC) on Monday said it commenced the liquidation of Heritage Bank Plc, following the revocation of the banking license of the Bank by the Central Bank of Nigeria (CBN) on Monday, June 3, 2024, and its appointment as the Liquidator, under Section 12(2) of BOFIA, 2020.

This was disclosed in a statement signed by Bashir A. Nuhu, director of communication and public affairs, at NDIC.

Under 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 dividends upon realisation of the bank’s assets and recovery of debts owed to the bank.

Read also: CBN revokes banking license of Heritage Bank Plc

All depositors of the defunct bank without an alternate bank account in the industry are advised as follows:

“Visit the nearest branch of the bank with proof of account ownership, verifiable means of identification such as driver’s license, permanent voter’s card, National Identity Card, together with their alternate account and Bank Verification Number (BVN) for the verification of their deposits and subsequent payment of insured sums, or file online claim 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.

Creditors are also advised 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.

Read also: Here’s what to know about Heritage Bank

Debtors who are yet to complete the repayment of loans are advised to contact the Corporation’s Asset Management Department (AMD). 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 As such, depositors are urged to continue their banking businesses without fear as banks whose licenses have not been revoked remain safe and sound,” the statement said.