The Nigeria Deposit Insurance Corporation has announced the commencement of the liquidation process for Heritage Bank Plc.
This move follows the Central Bank of Nigeria’sdecision to revoke the bank’s commercial license with national authorization.
In a statement released on Monday, the NDIC, appointed as the liquidator under Section 12(2) of the Banks and Other Financial Institutions Act 2020, assured depositors that insured amounts up to ₦5 million will be paid through alternate banks.
“Depositors of the bank with alternate accounts within the industry will be paid up to the insured amount of ₦5 million per depositor using their Bank Verification Number to locate their alternate account,” said NDIC spokesperson Bashir Nuhu. He added that depositors with funds exceeding ₦5 million would receive liquidation dividends upon the realization of the bank’s assets and recovery of its debts.
Step-by-step process to reclaim funds
For depositors without alternate bank accounts:
1. In-Person claims:
– Visit the nearest branch of Heritage Bank with proof of account ownership and a verifiable means of identification (e.g., driver’s license, permanent voter’s card, National Identity Card).
– Bring your alternate bank account details and BVN for deposit verification and payment of insured sums.
2. Online claims:
– Visit the NDIC website at [www.ndic.gov.ng/claims/claims](http://www.ndic.gov.ng/claims/claims), download and complete the claims forms, and upload the required documentation.
For creditors:
– File claims at the nearest branch of Heritage Bank or via the online platform. Payment of creditors will commence immediately after all depositors have been compensated.
For debtors:
– Contact the NDIC’s Asset Management Department for loan repayment arrangements. Further details are available on the NDIC website.
Nuhu reiterated the NDIC’s commitment to safeguarding depositors’ funds, ensuring the stability and soundness of licensed banks. “The NDIC wishes to assure 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 As such, depositors are urged to continue their banking businesses without fear, as banks whose licenses have not been revoked remain safe and sound,” he concluded.
