The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation of Heritage Bank Plc.
According to the corporation, this is following the revocation of the banking license of the bank by the Central Bank of Nigeria (CBN) today, June 3, 2024.
This is also in line with the appointment of the corporation as the Liquidator, pursuant to Section 12(2) of BOFIA, 2020.
“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,” the corporation stated in a release signed by Mr. Bashir A. Nuhu.
For depositors that have alternate account, the corporation also stated: “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. While depositors with funds in excess of N5 million will be paid liquidation dividend upon realisation of the bank’s assets and recovery of debts owed to the bank.”
On verification and payment of depositors without alternate bank account, the corporation also said: “All depositors of the defunct bank without 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 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.”
It also asked them to “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.
On verification and payment of creditors, the NDIC advised the creditors 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,” it further stated.
On debtors’ repayment of loans, the NDIC also said: “Debtors that are yet to complete the repayment of loans are advised to contact the corporation’s Asset Management Department (AMD). Visit the NDIC website for more details.”
The corporation assured 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.”