After License Revocation NDIC Commences Liquidation of Heritage Financial institution

After License Revocation NDIC Commences Liquidation of Heritage Financial institution

After License Revocation NDIC Commences Liquidation of Heritage Financial institution

The Nigeria Deposit Insurance coverage Company (NDIC) on Monday mentioned it commenced the liquidation of Heritage Financial institution Plc, following the revocation of the banking license of the Financial institution by the Central Financial institution of Nigeria (CBN) on Monday, June 3, 2024, and its appointment because the Liquidator, beneath Part 12(2) of BOFIA, 2020.

This was disclosed in a press release signed by Bashir A. Nuhu, director of communication and public affairs, at NDIC.

Below Part 55 sub-sections 1 & 2 of the NDIC Act 2023, the Company has commenced the liquidation technique of the failed financial institution with instant verification and cost of insured deposits to the financial institution depositors.

Depositors of the financial institution which have alternate accounts inside the trade will probably be paid as much as the insured quantity of N5 million per depositor utilizing their Financial institution Verification Quantity (BVN) to find their alternate account. Whereas depositors with funds over N5 million will probably be paid liquidation dividends upon realisation of the financial institution’s property and restoration of money owed owed to the financial institution.

All depositors of the defunct financial institution with out an alternate checking account within the trade are suggested as follows:

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“Go to the closest department of the financial institution with proof of account possession, verifiable technique of identification reminiscent of driver’s license, everlasting voter’s card, Nationwide Identification Card, along with their alternate account and Financial institution Verification Quantity (BVN) for the verification of their deposits and subsequent cost of insured sums, or file on-line declare by visiting the NDIC web site claims web page on, obtain and fill the claims types and add the required documentation.

Collectors are additionally suggested to go to the closest department of the financial institution to file their claims or through the web platform. Please be aware that the method of cost of collectors will begin instantly in spite of everything depositors have been paid.

Debtors who’re but to finish the reimbursement of loans are suggested to contact the Company’s Asset Administration Division (AMD). Go to the NDIC web site for extra particulars.

“The NDIC needs to guarantee your entire banking public of its dedication to the continued security of depositors’ funds in all licensed banks. As such, depositors are urged to proceed their banking companies with out worry as banks whose licenses haven’t been revoked stay protected and sound,” the assertion mentioned.

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