NDIC Begins Liquidation Process for Heritage Bank
…Assures Safety of Depositors’ Funds
By Patience Ikpeme
The Nigeria Deposit Insurance Corporation (NDIC) has announced the commencement of the liquidation process and outlined the procedures for depositors and creditors of Heritage bank.
According to Mr. Bashir A. Nuhu, Director of Communication and Public Affairs at NDIC, the Corporation has started the liquidation process, in accordance with Section 55 sub-section 1 & 2 of the NDIC Act 2023.
Immediate verification and payment of insured deposits to the bank depositors will be carried out.
Depositors with alternate accounts within the industry will be paid up to the insured amount of N5 million per depositor. To locate their alternate accounts, depositors are required to provide their Bank Verification Number (BVN). Depositors with funds exceeding N5 million will receive a liquidation dividend once the bank’s assets are realized and debts owed to the bank are recovered.
Depositors who do not have alternate bank accounts in the industry are advised to visit the nearest branch of Heritage Bank with proof of account ownership, verifiable means of identification such as driver’s license, permanent voter’s card, National Identity Card, their alternate account, and Bank Verification Number (BVN) for verification of their deposits and subsequent payment of insured sums.
Alternatively, they can file an online claim by visiting the NDIC website claims page on www.ndic.gov.ng/claims/claims. Depositors need to download and fill the claims forms and upload the required documentation.
Creditors are also encouraged to visit the nearest branch of Heritage Bank or file their claims through the online platform. It is important to note that the process of creditor payment will commence after all depositors have been paid.
Debtors who have outstanding loans are advised to contact the Corporation’s Asset Management Department (AMD). More details can be found on the NDIC website.
The NDIC has reassured the entire banking public of its commitment to the continued safety of depositors’ funds in all licensed banks. Depositors are urged to continue their banking businesses without fear as banks whose licenses have not been revoked are considered safe and sound.
With the liquidation process underway, the NDIC aims to ensure a smooth transition for depositors and creditors of Heritage Bank Plc, safeguarding their interests while maintaining the integrity of the banking system.
