The Central Bank of Nigeria (CBN) has revoked the banking license of Heritage Bank Plc, prompting the Nigeria Deposit Insurance Corporation (NDIC) to initiate the bank’s liquidation process.
The NDIC announced immediate verification and payment of insured deposits to the bank’s depositors.
In a statement issued on Monday, the Director of Communication & Public Affairs at NDIC, Bashir A. Nuhu, stated, “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.”
Nuhu further explained, “Depositors with funds in excess of N5 million will be paid a liquidation dividend upon realization of the bank’s assets and recovery of debts owed to the bank.”
He urged depositors to visit the nearest branch of Heritage Bank with proof of account ownership, a verifiable means of identification such as a driving license, permanent voter’s card, or National Identity Card, along with their alternate account details and BVN for the verification of their deposits and subsequent payment of insured sums.
Alternatively, customers can file claims online by visiting the NDIC website’s claims page at www.ndic.gov.ng/claims/claims, downloading and filling out the claims forms, and uploading the required documentation.
The NDIC also called on creditors to file their claims either by visiting the nearest branch of the bank or via the online platform.
The process of payment to creditors will commence immediately after all depositors have been paid.
In addition, the NDIC advised Heritage Bank’s debtors who have not yet completed their loan repayments to contact the Corporation’s Asset Management Department (AMD) or visit the NDIC website for more details.
The NDIC reassured the banking public of its commitment to the continued safety of depositors’ funds in all licensed banks, emphasizing that banks whose licenses have not been revoked remain safe and sound.
This development follows the CBN’s decision to revoke the bank’s license, signaling the end of Heritage Bank’s operations and marking a significant moment in Nigeria’s banking sector.
