Heritage Bank: NDIC Kicks off Liquidation Processes
The Liquidation of the distressed Heritage Bank Plc by the Central Bank of Nigeria (CBN) on Monday, haa ignited the Nigeria Deposit Insurance Corporation (NDIC) to commence the liquidation procedures.
The CBN had announced the liquidation of Heritage Bank on Monday and appointed the NDIC as the Liquidator, pursuant to Section 12(2) of BOFIA, 2020.
The NDIC in statement said in accordance with Section 55 sub-section 1 & 2 of the NDIC Act 2023, “the Corporation has commenced liquidation process of the failed bank with immediate verification and payment of insured deposits to the bank depositors”.
According to the statement which was signed by Bashir A. Nuhu, Director of Communication & Public Affairs, “Depositors of the bank that have alternate account 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”.
The statement further informed that depositors with funds in excess of N5 million will be paid liquidation dividend upon realization of the bank’s assets and recovery of debts owed to the bank.
Nuhu also stated that verification and Payment of Depositors Without Alternate Bank Account and depositors of the defunct bank without alternate bank account in the industry are advised to 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.
He said in the alternative they should “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”.
Regarding Verification and Payment of Creditors, the NDIC advised them 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.
As for Debtors’ Repayment of Loans, Debtors who are yet to complete the repayment of loans are advised to contact the Corporation’s Asset Management Department (AMD) and 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 added.
