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...

Read the original article on Vanguard.

Tagged:
Copyright © 2024 Vanguard. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.