The Nigeria Deposit Insurance Corporation (NDIC) has successfully disbursed N5 million each to 82.36% of Heritage Bank’s insured depositors.
However, 17.64% of these deposits remain unpaid due to issues such as Post-No Debits instructions or missing Bank Verification Numbers.
The disbursement process began promptly after the Central Bank of Nigeria revoked Heritage Bank’s license on June 3, 2024, due to financial instability and regulatory breaches.
The NDIC’s effort to manage the liquidation and ensure depositors receive their funds aligns with its mandate to uphold financial stability in Nigeria.