The Nigeria Deposit Insurance coverage Company (NDIC) has declared the primary tranche of liquidation dividends totaling N46.6 billion from the proceeds of gross sales of Heritage Financial institution’s belongings and restoration of money owed owed to the defunct establishment.
NDIC disclosed this in a press release signed by Hawwau Gambo, performing head, communication & public affairs, on Sunday.
The cost of the primary tranche of the liquidation dividends commenced on Friday April 25, 2025. The preliminary dividend cost was on the fee of 9.2 kobo per naira on a pro-rata foundation to the depositors whose account balances exceeded the NDIC’s most insured restrict of N5.0 million as on the time of the financial institution’s closure.
A liquidation dividend represents the quantity paid by the company to depositors of a closed financial institution, in extra of the utmost insured restrict, from the proceeds of gross sales of belongings and restoration from the debtors of the failed financial institution. It additionally contains quantities paid to collectors and shareholders in spite of everything depositors have been absolutely paid.
Following the revocation of the Heritage Financial institution’s working license by the Central Financial institution of Nigeria (CBN) on June 3, 2024, the NDIC promptly started reimbursing insured deposits of as much as N5 million per depositor. To make sure a seamless and environment friendly cost course of, the NDIC used the depositors’ Financial institution Verification Quantity (BVN) to find alternate account numbers of depositors in different banks and mechanically credited them with the insured quantity.
Moreover, the company leveraged the present data used within the cost of the insured quantity to facilitate the disbursement of the primary tranche of liquidation dividends.
“Consequently, any depositor with an quantity in extra of N5.0 million who was paid insured quantity however didn’t obtain the cost the liquidation dividends ought to strategy the closest NDIC workplace or contact us on the phone numbers under.”
Within the Meantime, depositors of the defunct banks who don’t preserve various financial institution accounts and weren’t paid the insured quantity, are suggested to go to the closest NDIC workplace or go to the claims web page on the company’s web site, www.ndic.gov.ng to obtain, full and submit deposit verification kind for the cost of the insured quantity and, the place relevant, the primary tranche of their liquidation dividends.
“The Company needs to reassure the general public that this cost represents solely the primary tranche of liquidation dividends. Additional funds will observe as extra belongings of the defunct Heritage Financial institution are realized and excellent money owed are recovered. The NDIC stays dedicated to its vigorous efforts in asset restoration and making certain all eligible depositors are reimbursed.”
