Business
Insured deposits to be returned to Heritage Bank customers this week – NDIC
The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, has announced that the process of reimbursing insured deposits to depositors of Heritage Bank, which is undergoing liquidation, will commence this week.
At a press conference in Abuja, the Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Hassan, disclosed that more than 99% of Heritage Bank’s 2.3 million depositors have account balances of N5 million or less, indicating that they will receive full reimbursement for their insured deposits.
About 4,000 depositors with accounts exceeding N5 million will receive an initial payment of N5 million, with subsequent payments to follow as the NDIC recovers Heritage Bank’s assets and receives payments on outstanding loans.
The NDIC’s action demonstrates its unwavering dedication to protecting the interests of depositors and maintaining a stable financial landscape in the banking industry.
More details to follow…
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