In its commitment to ensuring that depositors of the defunct Heritage Bank are fully reimbursed, the Nigeria Deposit Insurance Corporation (NDIC) has declared the first tranche of liquidation dividends totalling N46.6 billion from the proceeds of sales of the defunct bank’s assets and recovery of debts owed to the defunct institution.
The payment of the first tranche of the liquidation dividends commenced on April 25, 2025, NDIC said.
This initial dividend payment was at the rate of 9.2 kobo per Naira on a pro-rata basis to the depositors whose account balances exceeded the NDIC’s maximum insured limit of N5 million at the time of the bank’s closure.
Following the revocation of Heritage Bank’s operating licence by the Central Bank of Nigeria (CBN) on June 3, 2024, the NDIC began reimbursing insured deposits of up to N5 million per depositor.
To ensure a seamless and efficient payment process, the NDIC used the depositors’ Bank Verification Number (BVN) to locate alternate account numbers of depositors in other banks and automatically credited them with the insured amount.
The Corporation said it also leveraged existing records used in the payment of the insured amount to facilitate the disbursement of the first tranche of liquidation dividends.
Any depositor with an amount over N5 million who was paid the insured amount but did not receive the payment of the liquidation dividends should approach the nearest NDIC office or contact us at the telephone numbers below.
Depositors who do not maintain the alternative bank account and were not paid the insured amount were advised to visit the nearest NDIC office or go to the claims page on the Corporation’s website to download, complete and submit the deposit verification form for the payment of the insured amount and where applicable, the first tranche of their liquidation dividends.
