NDIC Gives Heritage Bank Depositors Guidelines to Recover Funds

By Adedapo Adesanya

The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation of Heritage Bank Plc after the Central Bank of Nigeria (CBN) revoked the commercial bank license with national authorisation on Monday.

The insurer of depositors’ funds said this in a statement on Monday shortly after the CBN decision.

The apex bank also appointed the NDIC as the liquidator of the failed bank according to Section 12(2) of BOFIA, 2020.

A spokesperson for the NDIC, Mr Bashir Nuhu, assured depositors with an insured amount of N5 million that they would get their money through other banks.

“Depositors of the bank with 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 above ₦5 million will be paid liquidation dividend upon realisation of the bank’s assets and recovery of debts owed to the bank,” the statement partly read.

All depositors of the defunct bank without alternate bank accounts in the industry are advised to visit the nearest branch of the bank with proof of account ownership, and verifiable means of identification such as a driver’s license or permanent voter’s card.

Other means include a 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.

Alternatively, they can file online claims 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 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.

For debtors’ loan replacement. Those who have yet to repay loans are advised to contact the Corporation’s Asset Management Department (AMD).

“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 As such, depositors are urged to continue their banking businesses without fear as banks whose licenses have not been revoked remain safe and sound,” the statement concluded.