The Nigeria Deposit Insurance Corporation, NDIC has commenced the liquidation and payment of insured depositors of Heritage Bank after the revocation of its operation licences by the Central Bank of Nigeria.
The Managing Director, NDIC, Bello Hassan who disclosed this at a news conference at the corporation’s headquarters in Abuja said payment to insured depositors will start before the next 48 hours.
He said over 400 NDIC staff have been deployed to 116 branches and regional offices of Heritage Bank across the country to carry out the liquidation exercise.
The Nigeria Deposit Insurance Corporation, NDIC Boss while noting that 2023 NDIC Act has expanded as well as strengthened its mandates said out of 2.3m depositors of the failed bank only four thousand have more than five million naira in their bank accounts.
He however, pointed out that despite the failed bank gaving out loans worth over ₦700 billion, the preliminary amount of the bank stands at ₦650 billion.
