Payment of outstanding depositors of Heritage Bank still ongoing—NDIC

Nigeria Deposit Insurance Corporation (NDIC) says it is committed to the reimbursement of outstanding insured amounts to all eligible depositors of the failed Heritage Bank. The corporation, on its official X, said the  payment of the insured sum had been ongoing and it had continued to pay the depositors their insured sum. NDIC was responding to appeals by customers of the failed Bank who were yet to receive their insured deposits. “We apologise for the delay in your payment and any challenges you may have experienced. Kindly note that NDIC has continued to pay depositors. Payment has been ongoing and the Corporation is committed to successful reimbursement to all eligible depositors. Those with outstanding issues may wish to send a message to us so we can confirm their status towards resolving any challenges,” the corporation said on its X handle. NDIC had said it had substantially paid almost all insured depositors of the failed bank.
“The only group of insured depositors that we have not paid are those with no alternate account and have not come forward to provide one so that we can pay them. Also, insured depositors whose account is on post no debit order either by order of court or by regulatory agencies due to issues around fraud and Know-Your-Customer (KYC) have not been paid. Once those orders are vacated, we are going to pay them,” the corporation said.
The corporation had also said they had commenced the payment of the first tranche of liquidation dividends totalling N46.6 billion to depositors of the defunct Heritage Bank whose funds were above the insured deposit of N5 million. NDIC said the money was gotten from proceeds of sales of the defunct bank’s assets and recovery of debts owed the bank. It also said debtors who neglected to pay back their loans in failed banks caused delays in the payment of liquidation dividends. NDIC said it was committed to the recovery of all debts and sales of assets of failed banks to ensure full payment to depositors. NAN