Following the revocation of the banking licence of Heritage Bank Plc by the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC) has commenced liquidation process of the bank with immediate verification and payment of insured deposits to the bank depositors.

In a statement on Monday, the Director Communication & Public Affairs of the NDIC, Bashir A. Nuhu, said, "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 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."

He urged the depositors to visit the nearest branch of the bank with proof of account ownership, verifiable means of identification such as driving licence, permanent voter's card, National Identity Card, together with their alternate account and BVN for the verification of their deposits and subsequent payment of insured sums.

Alternatively, he urged customers to file online claim by visiting the NDIC website claims page on www.ndic.gov.ng/claims/claims, download and fill the claims forms and upload the required documentation.

The NDIC also called on creditors to visit the nearest branch of the bank to file their claims or via the online platform.

The release also noted that the process of payment of creditors would commence immediately after all depositors had been paid.

The NDIC also advised the bank's debtors, who are yet to complete the repayment of loans, to contact the Corporation's Asset Management Department (AMD) or visit the NDIC website for more details.

The NDIC also assured the entire banking public of its commitment to the continued safety of depositors' funds in all licensed banks, adding that banks whose licences had not been revoked remain safe and sound.