Defunct Heritage Bank Customers Receive ₦5m Each as NDIC Pays 82.36%

The Nigeria Deposit Insurance Corporation (NDIC) has announced that it has paid 82.36 percent of depositors who had more than ₦5 million insured in the now-defunct Heritage Bank.

Director of Communication and Public Affairs, Bashir Nuhu, made this known in a statement he issued on Sunday.

He said the step underscored the corporation’s commitment to safeguarding depositors’ funds.

Nuhu noted that payments commenced within four days of the bank’s closure.

According to him, the direct payment method marked a historic shift in the NDIC’s approach to reimbursing depositors promptly.

He said that while the majority of insured deposits had been paid, the NDIC was working to reach the remaining 17.64 percent of insured depositors.

He noted that many of the remaining depositors had accounts with post-no-debit instructions, lacked BVN, or had no alternative accounts.

According to him, the corporation is actively engaging these depositors through phone calls and text messages.

The spokesman acknowledged the challenges posed by unpaid uninsured deposits, which represent a larger portion of the total deposits.

Nuhu assured the public that the NDIC was working to recover assets and debts to facilitate payments to the depositors through liquidation dividends.

The director said that once all insured and uninsured deposits were settled, NDIC would proceed with payments to creditors according to legal priority.

He reaffirmed the corporation’s dedication to protecting depositors’ funds and urged the public to continue banking confidently.