The Nigeria Deposit Insurance Corporation (NDIC) has announced that it will begin paying the first tranche of liquidation dividends to depositors of the defunct Heritage Bank within April 2025.
The announcement was made by NDIC’s Managing Director/Chief Executive, Bello Hassan, during the corporation’s Special Day at the 36th Enugu International Trade Fair.
Hassan revealed that significant progress had been made in selling off the bank’s assets and recovering outstanding debts.
“We have commenced preparations to pay the first tranche of liquidation dividends this month – April, 2025,” he said.
The NDIC boss, represented at the event by the South-East Zonal Coordinator and Assistant Director, Mrs Pamela Robert, also disclosed that insured deposits of up to N5 million per depositor were paid within four days of the bank’s closure.
He called on depositors who have not yet received their payments to come forward with their Bank Verification Numbers (BVN) and alternate bank account details to enable seamless processing.
“I therefore urge depositors of closed banks, particularly Heritage Bank, who have not yet received their payments, to come forward and provide the necessary documentation supporting ownership of the account,” he said.
Hassan noted that the NDIC had a strong record in managing failed banks, having fully paid liquidation dividends to depositors of 20 previously closed financial institutions.
He assured depositors that NDIC has the capacity—both financially and operationally—to fully reimburse all depositors as recoveries continue.
The corporation reaffirmed its commitment to maintaining financial stability and strengthening public confidence in the banking system, emphasizing its role in protecting depositors and contributing to Nigeria’s economic growth.
