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…
Asake announces new album
Trump-Musk clash hits hard as Elon Musk’s reportedly loses $34 billion in a day
Eid -el -Kabir: Bala calls on Bauchi residents to strengthen bonds of peaceful coexistence, mutual respect, unity
US imposes sanctions on 4 ICC judges
Eid-el-Kabir: Yahaya Bello urges Nigerians to embrace peace, unity
Elon Musk fires back as Trump threatens to cut off government contracts
Palmer takes Chelsea’s No.10
Transfer: Hidalgo speaks on Julian Alvarez’s joining Barcelona
Transfer: Real Madrid emerge favourite to land Argentina’s Mastantuono
Former president planning next election comeback passes away
Breaking: VeryDarkMan regains freedom
Matawalle: The inertia of the saddest minds, by Lawal Umar Maradun, Ph.D.
VeryDarkMan breaks silence after release
Bauchi lawmaker trains, empowers 125 youths on agriculture
NCoS unveils faces of fleeing inmates, places N5m cash reward for info
Man Utd eye new goalkeeper
IGP inspects police security tech facilities
Imo community decries killings, seeks urgent government action
Breaking: NCoS launches manhunt as 7 inmates escape in Osun
The Imperative for human development in Africa, by Rauf Aregbesola
We didn’t authorize petition against Mele Kyari, group tells AGF, EFCC
Breaking: Nationwide strike looms as ASUU issues 21-day notice
Inuwa Yahaya condoles with RFI over loss of Kabir Yusuf
Guardiola issues Erling Haaland fitness update ahead of Wolves
-
National News2 days agoEx-EFCC chairman Abdulrasheed Bawa unveils explosive book on Nigeria’s fuel subsidy fraud
-
Metro News2 days agoBauchi man to present Sallah ram to Tinubu in Lagos after failed attempt
-
Politics2 days ago2027: Sowore expresses concern over coalition to unseat Tinubu
-
Entertainment2 days agoStop calling my daughter ‘Duduke’ – Simi tells fans
-
National News2 days agoBreaking: Shettima storms Mokwa as death toll rises
-
Politics21 hours agoPDP targets David Mark as new party chairman
-
National News2 days agoSenator Natasha phone number cloned in alleged cyber impersonation scheme
-
Metro News22 hours agoGovernment uncovers 7,000 ghost workers on payroll