The Nigeria Deposit Insurance Corporation (NDIC) has started paying N46.6 billion in liquidation dividends to depositors of the defunct Heritage Bank.
In a statement on Sunday, NDIC’s Acting Head of Communication, Hawwau Gambo, confirmed the funds were sourced from the sale of the bank’s assets and debt recoveries. These dividends are paid to depositors beyond the insured limit, with the initial payout set at 9.2 kobo per naira for balances above N5 million.
The NDIC began distributing the first tranche on April 25. Further payments will be made as more assets are realized and outstanding debts recovered.
Following Heritage Bank’s license revocation by the Central Bank of Nigeria on June 3, 2024, the NDIC initially reimbursed insured deposits of up to N5 million. Depositors without alternative accounts are advised to visit NDIC offices or download forms from the NDIC website to complete verification and claim their amounts.
