The Nigeria Deposit Insurance Corporation (NDIC) has officially begun the payment of N46.6 billion in liquidation dividends to depositors of the now-defunct Heritage Bank.
This announcement was made on Sunday in a statement by Hawwau Gambo, the Acting Head of Communication and Public Affairs at NDIC.
Gambo explained that the funds were generated from the sale of Heritage Bank’s assets and the recovery of outstanding debts. She emphasized that a liquidation dividend refers to payments made to depositors beyond the maximum insured limit, once a failed bank’s assets are liquidated and debts recovered.
NAIJABLOGDAILY.COM
The first tranche of liquidation dividends, which began disbursement on April 25, 2025, is being paid at 9.2 kobo per naira on a pro-rata basis to depositors with account balances exceeding N5 million.
She further disclosed that additional payments will be made as NDIC continues to recover more assets and outstanding debts tied to Heritage Bank.
Following the revocation of Heritage Bank’s licence by the Central Bank of Nigeria (CBN) on June 3, 2024, NDIC had immediately reimbursed insured depositors up to N5 million through a seamless process that leveraged depositors’ Bank Verification Numbers (BVN) to locate alternate accounts for direct crediting.
HEED: Follow us on Instagram or any other social media platform and get the most reliable news directly in your favourite app!
For those depositors with balances exceeding N5 million who have not yet received their liquidation dividends, Gambo advised visiting the nearest NDIC office. Similarly, depositors without alternate bank accounts are urged to download the necessary forms from www.ndic.gov.ng, complete them, and submit them for verification and payment.
Gambo reaffirmed NDIC’s commitment to the full recovery of bank assets and the complete reimbursement of all eligible depositors, stressing that efforts will continue until every legitimate claim is settled.
NaijaBlogDaily# is visible on all social media platforms, and we bring you the latest Nigerian news on politics and economy, entertainment, and celebrity updates, including sports across Nigeria and beyond…
Keep visiting and following up with us on any social media platform you are using to keep you updated 💯
Remember (information brings knowledge and power).
STAY TUNED!!!
