MON APRIL 28 2025-theGBJournal| Nigeria Deposit Insurance Corporation (NDIC) has declared first tranche of liquidation dividends totaling N46.6 billion from the proceeds of sales of defunct Heritage Bank’s assets and recovery of debts owed to the defunct institution.
The dividends reflects NDIC’s commitment to ensuring that depositors of the defunct Heritage Bank are fully reimbursed.
NDIC said the payment of the first tranche of the liquidation dividends commenced on Friday April 25, 2025.
”This initial dividend payment was at the rate of 9.2 kobo per Naira on a pro-rata basis to the depositors whose account balances exceeded the NDIC’s maximum insured limit of ₦5.0 million as at the time of the bank’s closure,” the NDIC said in a statement today.
Earlier, following the revocation of the Heritage Bank’s operating license by the Central Bank of Nigeria (CBN) on June 3, 2024, the NDIC promptly began reimbursing insured deposits of up to N5 million per depositor.
When the reimbursement began, the NDIC used the depositors’ Bank Verification Number (BVN) to locate alternate account number of depositors in other banks and automatically credited them with the insured amount, to ensure seamless and efficient payment process.
Furthermore, the Corporation leveraged the existing records used in the payment of the insured amount to facilitate the disbursement of first tranche of liquidation dividends. Consequently, any depositor with amount in excess of N5.0 million who was paid insured amount but did not receive the payment the liquidation dividends should approach the nearest NDIC office or contact us on the telephone numbers below.
NDIC said further payments will follow as more assets of the defunct Heritage Bank are realized and outstanding debts are recovered.
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