NDIC Set to Begin Initial Payout of Liquidation Proceeds to Heritage Bank Customers
The Nigeria Deposit Insurance Corporation (NDIC) has announced its plan to initiate the first round of liquidation payouts to clients of Heritage Bank, whose operational license was revoked by the Central Bank of Nigeria on June 3, 2024.
According to the NDIC’s Managing Director and Chief Executive Officer, Bello Hassan, the agency has made substantial headway in selling off the bank’s physical assets and collecting outstanding loans.
Hassan, represented by the NDIC’s South-East Zonal Coordinator and Assistant Director, Mrs. Pamela Robert, revealed this during the agency’s Special Day at the ongoing 36th Enugu International Trade Fair. He stated that NDIC is working tirelessly to ensure that all customers recover their money promptly.
“We are set to begin disbursement of the first batch of liquidation proceeds this April,” he stated.
He added that insured deposits of up to ₦5 million per customer were paid within four days of the bank’s closure.
The NDIC encouraged customers who have not received their funds to come forward with supporting documents—such as their Bank Verification Numbers (BVNs) and alternative bank account details—to facilitate the payment process.
“I urge all account holders of the now-defunct Heritage Bank who have not yet been paid to visit any of our offices or designated centers with proper documentation to confirm ownership of their accounts,” Hassan said.
He highlighted NDIC’s track record in resolving failed bank cases, noting that the corporation has previously disbursed complete liquidation proceeds to clients of 20 other closed banks.
Hassan assured the public that the corporation is fully equipped—both financially and operationally—to reimburse all depositors, as asset recovery efforts continue.
The NDIC’s intervention is part of its broader mandate to preserve financial system stability and uphold public trust in Nigeria’s banking system.
By protecting depositors’ interests and ensuring orderly resolution of distressed financial institutions, the corporation plays an essential role in national economic growth.
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NDIC Set to Begin Initial Payout of Liquidation Proceeds to Heritage Bank Customers