The Nigeria Deposit Insurance Corporation (NDIC) has successfully reimbursed 82.36% of depositors with balances exceeding N5 million at the now-defunct Heritage Bank.
Mr. Bashir Nuhu, Director of Communication and Public Affairs, stated that this achievement highlights the NDIC’s commitment to safeguarding depositor funds. Payments began just four days after the bank’s closure, marking a historic shift in the NDIC’s approach to prompt reimbursement.
While most insured deposits have been settled, the NDIC is addressing the remaining 17.64% of depositors. Challenges such as post-no-debit instructions, missing BVNs, and lack of alternative accounts have complicated the process. The NDIC is actively reaching out to these depositors via phone and text messages.
Nuhu also acknowledged difficulties related to unpaid uninsured deposits, which constitute a larger portion of the total deposits. The NDIC is working to recover assets and debts to enable payments through liquidation dividends. Once all insured and uninsured deposits are resolved, the NDIC will prioritize payments to creditors according to legal guidelines.
The NDIC remains dedicated to protecting depositor funds and encourages the public to continue banking with confidence.
