The Nigeria Deposit Insurance Corporation (NDIC) has revealed that 17.6 per cent of Heritage Bank depositors have still not received payments, after the bank’s liquidation.... CLICK TO READ THE FULL NEWS HERE▶▶
The NDIC made this known in a statement by its spokesperson, Bashir Nuhu, on Sunday, August 11, 2024.
According to the corporation, the delay was due to verification issues.
Recall that the Central Bank of Nigeria (CBN) on 3 June announced the revocation of the bank’s licence.
The apex bank stated that Heritage Bank violated section 12 of the Banks and Other Financial Act, the CBN as it could not improve its financial performance, “a situation which constitutes a threat to financial stability”.
The NDIC said it has since reimbursed about 82.36 per cent of the total insured deposit to date, added that the liquidated bank started the payment process, utilising Bank Verification Numbers (BVN) to transfer up to N5 million (£5,000,000) per depositor into their alternate bank account within a record time of four (4) days of the bank closure.
The NDIC said: “This unprecedented achievement of direct payment through BVN-linked alternate accounts without the need for depositors to visit NDIC offices or fill out forms marks a historic shift for the NDIC in the prompt reimbursement of depositors with payment of about 82.36 per cent of the total insured deposit to date.
“It is instructive to state that, the remaining 17.64 per cent of the insured deposits yet to be paid were largely depositors whose accounts have post no debits (PND) instructions or have no BVN. Others are those with no alternative accounts in other banks or accounts with KYC limit on the maximum lodgement per day and are yet to come forward for verification.
“Subsequently, after the full payment of both insured and uninsured portion of deposits, the Corporation will proceed with the payment of creditors in accordance with priority of claim as provided in the extant law. We would like to reiterate that all payments other than that of insured deposits are subject to availability and realisation of assets of the bank in the form of liquidation dividend.”
