The Nigeria Deposit Insurance Corporation (NDIC) says it has commenced the payment of N46.6 billion from liquidation dividends to depositors of the defunct Heritage Bank.
Hawwau Gambo, acting head of communication and public
affairs at the corporation, announced in a statement on Sunday.
Gambo said the funds were realised from the sale of Heritage
Bank’s assets and the recovery of debts owed to the institution.
She explained that a liquidation dividend is paid to
depositors of a closed bank, beyond the maximum insured limit, using proceeds
from asset sales and debt recoveries.
The spokesperson added that after all depositors have been
fully reimbursed, creditors and shareholders may also benefit from the
liquidation proceeds.
Gambo said it began payment of the first tranche of
liquidation dividends on April 25, at a rate of 9.2 kobo per naira on a
pro-rata basis to depositors with balances exceeding N5 million.
“Depositors with balances exceeding N5 million who did not
receive their liquidation dividends should visit the nearest NDIC office,” the
spokesperson said.
She also encouraged depositors without alternative bank
accounts — who were not paid their insured amount — to visit NDIC offices or
download the necessary forms from the agency’s website.
“Depositors must complete and submit a deposit verification
form to receive their insured amounts and, where applicable, the first tranche
of dividends,” Gambo added.
Following the revocation of Heritage Bank’s licence by the
Central Bank of Nigeria (CBN) on June 3, 2024, the NDIC said it immediately
reimbursed insured deposits of up to N5 million.
To ease the process, the agency used bank verification
numbers (BVN) to locate alternate accounts and credit depositors automatically.
Gambo said further payments would be made as more assets of
the defunct bank are recovered and realised.
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