In accordance with Section 55 sub-section 1 and 2 of the Nigeria Deposit Insurance Corporation NDIC Act 2023, the commencement liquidation process of Heritage Bank Plc has been announced with immediate verification and payment of insured deposits to the bank depositors.
The announcement was made in a statement released by the Corporation on Monday, following the revocation of the banking license of the failed Bank by the Central Bank of Nigeria (CBN) this day June 3, 2024 and appointing the Corporation as the Liquidator, pursuant to Section 12(2) of BOFIA, 2020.
The Corporation stated that 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 added that depositors with funds in excess of N5 million will be paid liquidation dividend upon realization 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 advised all depositors of the defunct bank without alternate bank account in the industry to visit the nearest branch of the Heritage bank with proof of account ownership.
Such as verifiable means of identification like the 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.
Also, 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.
While noted that the process of payment of creditors will commence immediately after all depositors have been paid.
On Debtors’ Repayment of Loans, the Corporation advised debtors that are yet to complete the repayment of loans to contact the Corporation’s Asset Management Department (AMD) and also visit the NDIC website for more details.
The NDIC 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 “As such, depositors are urged to continue their banking businesses without fear as banks whose licenses have not been revoked remain safe and sound”, the Corporation guaranteed.