The Nigeria Deposit Insurance Corporation, NDIC, has notified customers of the defunct Heritage Bank 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.
The NDIC in a statement by its Director of Communication and Public Affairs, Bashir A. Nuhu said the Corporation has already initiated the process of debt recovery and realisation of investments and physical assets of the defunct bank to ensure timely reimbursement of the uninsured depositors of the defunct bank.
The Corporation noted that with direct payment through the use of BVN-linked alternate accounts, it was able to refund all insured customers, within four days of the closure of Heritage Bank.
It, however, said the remaining 17.64% of insured deposits yet to be paid are 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 a KYC limit on the maximum lodgment per day and are yet to come forward for verification.”
”These categories of depositors are presently being contacted by the Corporation through telephone calls and text messages to come forward for verification. As earlier mentioned in our press release, press conference and advert in the print and electronic media, the verification can be done by visiting any of the Corporation’s offices.
According to the statement, In the discharge of its deposit guarantee mandate, the Corporation began the payment of the insured deposits of Five Million Naira (N5,000,000) maximum per depositor within a record time of four (4) days of the bank closure.
”This was achieved using Bank Verification Numbers (BVN) as a unique identifier to locate depositors’ alternate accounts in other banks.
”However, depositors with balances exceeding Five Million Naira have been paid the initial insured sum of Five Million Naira, while the remaining balances (classified as uninsured deposits) will be paid as liquidation dividends upon realization of the defunct bank’s assets and recovery of debts owed to the defunct bank.
‘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. ‘
Heritage Bank: Payments other than insured deposits subject to asset liquidation
