Nigeria: NDIC Commences Payment to Heritage Bank's Depositors This Week

5 June 2024
Vanguard (Lagos)

Depositors of Heritage Bank (in liquidation) will be paid their insured deposits as from this week.

The Managing Director (MD) of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, disclosed this at an on-going press conference, in Abuja.

Accord to him, over 99 percent of the 2.3 million depositors have N5 million and less in their accounts and will therefore be paid in full.

He explained that only about 4000 depositors have above N5 million in their accounts.

For such customers, they will receive an initial N5 million along with others and later be paid more as the NDIC recovers assets of the bank and loans from debtors.

Details later...

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