Following the revocation of the banking license of Heritage Bank Plc by the Central Bank of Nigeria (CBN, and the appointment of the Nigeria Deposit Insurance Corporation (NDIC) as the Liquidator, the Corporation said it had begun the process for winding up.
The move, according to the NDIC, is pursuant to Section 12(2) of BOFIA, 2020 and in accordance with Section 55 sub-section 1 & 2 of the NDIC Act 2023.
The NDIC said in a statement that the Corporation has commenced liquidation process of the failed bank with immediate verification and payment of insured deposits to the bank depositors.
The statement was signed by Director Communication & Public Affairs, Bashir A. Nuhu
It said that depositors of the bank that have alternate account within the industry will be paid up to the insured amount of N5m per depositor using their Bank Verification Number (BVN) to locate their alternate account. While depositors with funds in excess of N5m will be paid liquidation dividend upon realization of the bank’s assets and recovery of debts owed to the bank.
The statement reads, “All depositors of the defunct bank without alternate bank account in the industry are advised as follows: Visit the nearest branch of the bank with proof of account ownership, verifiable means of identification such as driver’s license, permanent voter’s card, National Identity Card, together with their alternate account and Bank Verification Number (BVN) for the verification of their deposits and subsequent payment of insured sums.
“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.”
The NDIC explained that debtors that are yet to complete the repayment of loans are advised to contact the Corporation’s Asset Management Department (AMD).
“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 As such, depositors are urged to continue their banking businesses without fear as banks whose licenses have not been revoked remain safe and sound.”
JUST-IN: NDIC Begins Liquidation Of Heritage Bank After CBN’s Revocation Of Operational License is first published on The Whistler Newspaper