NDIC begins verification, fee of insured deposits to Heritage Bank clients

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The Nigeria Deposit Insurance Corporation stated it has commenced the liquidation of Heritage Bank Plc.

NDIC assured all that it might pay depositors of the failed financial institution N5 million insured deposits.

The company’s Director of Communication and Public Affairs, Bashir Nuhu in an announcement on Monday, stated the liquidation is in accordance with Section 55 Sub-sections 1 & 2 of the NDIC Act 2023.

The assertion reads, “Following the revocation of the banking licence of Heritage Bank Plc by the Central Bank of Nigeria (CBN) at this time, June 3, 2024, and the appointment of the Nigeria Deposit Insurance Corporation (NDIC) because the liquidator, pursuant to Section 12(2) of BOFIA, 2020, the company needs to announce to depositors of the financial institution specifically and the banking public typically, as follows:

“The NDIC has commenced the liquidation of Heritage Bank Plc: In accordance with Section 55 sub-section 1 & 2 of the NDIC Act 2023, the company has commenced the liquidation technique of the failed financial institution with speedy verification and fee of insured deposits to the financial institution depositors.

“Depositors of the bank that have alternate accounts 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 dividends upon realisation of the bank’s assets and recovery of debts owed to the bank.”

Nuhu suggested depositors with out an alternate checking account within the business to go to the closest department of the financial institution with proof of account possession and verifiable technique of identification.

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“Verification and fee of depositors with out alternate checking account: All depositors of the defunct financial institution with out an alternate checking account within the business are suggested as follows:

“Visit the closest department of the financial institution with proof of account possession, verifiable technique of identification corresponding to driver’s license, everlasting voter’s card, National Identity Card, along with their alternate account and Bank Verification Number (BVN) for the verification of their deposits and subsequent fee of insured sums or file on-line declare by visiting the NDIC web site claims web page on www.ndic.gov.ng/claims/claims, obtain and fill the claims types and add the required documentation.

“Verification and Payment of Creditors: Creditors are also advised to visit the nearest branch of the bank to file their claims or via the online platform. Please note that the process of payment of creditors will commence immediately after all depositors have been paid. Debtors’ Repayment of Loans: Debtors who are yet to complete the repayment of loans are advised to contact the Corporation’s Asset Management Department (AMD). Visit the NDIC website for more details,” the assertion added.

The company assured depositors of the security of their funds, saying, “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.”

Earlier, the Central Bank of Nigeria revoked the banking licence of Heritage Bank with speedy impact.

The improvement adopted the financial institution’s failure to enhance its monetary efficiency, posing a menace to monetary stability.

CBN stated the financial institution’s administration has been unable to stem the decline regardless of varied supervisory steps taken by the regulator. With no cheap prospects of restoration, the CBN has taken this motion to guard the monetary system and preserve public confidence.https://punchng.com/cbn-revokes-heritage-banks-licence/



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