Heritage Bank Plc’s liquidation has been initiated by the Nigeria Deposit Insurance Corporation (NDIC) following the revocation of its banking license by the Central Bank of Nigeria (CBN) on June 3, 2024.
The NDIC, appointed as the Liquidator under Section 12(2) of BOFIA, 2020, has announced the commencement of the liquidation process, starting with the verification and payment of insured deposits to the bank depositors.
Depositors 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.
Those with funds exceeding N5 million will receive a liquidation dividend once the bank’s assets are realized and debts owed to the bank are recovered.
Depositors without alternate bank accounts were advised to visit the nearest branch of the bank with proof of account ownership and verifiable means of identification, or file an online claim on the NDIC website.
Creditors were also instructed to file their claims either in person or online, with payments to creditors commencing after all depositors have been settled.
Debtors with outstanding loans were urged to contact the Corporation’s Asset Management Department (AMD) for further instructions.
The NDIC reassured the public of the safety of depositors’ funds in all licensed banks, emphasizing that banks whose licenses have not been revoked are secure.
In a statement signed by Bashir Nuhu, NDIC Director of Communication & Public Affairs, depositors were encouraged to continue their banking activities without fear.
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