NDIC To Pay Heritage Bank Customers Maximum N5m

Nigeria Deposit Insurance Corporation (NDIC) has begun the liquidation process of Heritage Bank Plc, following the revocation of its banking license by the Central Bank of Nigeria (CBN).

Gatekeepers News reports that in a statement, the NDIC assured depositors that their funds are protected and will be paid up to N5 million, depending on their deposits.

According to the statement, “Depositors of the bank that have alternate accounts within the industry will be paid up to the insured amount of N5 million per depositor using their Bank Verification Number (BVN) to locate their alternate account.”

Depositors without alternate accounts are advised to visit the nearest Heritage Bank branch with proof of account ownership and identification, while creditors are instructed to file their claims online or at the nearest bank branch.

The NDIC assured that creditor payments will begin after all depositors have been compensated.