Heritage Bank licence revoked
The Nigeria Deposit Insurance Corporation (NDIC) has initiated the liquidation process of Heritage Bank, assuring depositors of the failed bank that they will receive up to N5 million in insured deposits.
Bashir Nuhu, the Director of Communication & Public Affairs, made this announcement in a statement on Monday.
He stated: “Following the revocation of the banking license of Heritage Bank Plc by the Central Bank of Nigeria (CBN) on June 3, 2024, and the appointment of the Nigeria Deposit Insurance Corporation (NDIC) as the Liquidator, pursuant to Section 12(2) of BOFIA, 2020, the Corporation wishes to inform depositors of the bank and the banking public as follows:
“The NDIC has Commenced the Liquidation of Heritage Bank Plc:
In line with Section 55 subsection 1 & 2 of the NDIC Act 2023, the Corporation has begun the liquidation process of the failed bank by immediately verifying and paying insured deposits to bank depositors.
“Depositors with an alternate account within the industry will be compensated up to the insured amount of N5 million per depositor using their Bank Verification Number (BVN) to locate their alternate account. Depositors with funds exceeding N5 million will receive liquidation dividends once the bank’s assets are realized and debts owed to the bank are recovered.
“Verification and Payment of Depositors Without Alternate Bank Account:
Depositors of the defunct bank without an alternate bank account in the industry are advised as follows:
“Visit the nearest branch of the bank with proof of account ownership, verifiable means of identification such as a driver’s license, permanent voter’s card, National Identity Card, along with their alternate account and Bank Verification Number (BVN) for the verification of their deposits and subsequent payment of insured sums or file an 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.
“Verification and Payment of Creditors:
Creditors are also advised 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.
“Debtors’ Repayment of Loans:
Debtors who have outstanding loans are encouraged to contact the Corporation’s Asset Management Department (AMD). For more details, visit the NDIC website.
“The NDIC assures the entire banking public of its commitment to the continued safety of depositors’ funds in all licensed banks. Therefore, depositors are urged to continue their banking activities without fear as banks whose licenses have not been revoked remain secure and stable.”
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