The Nigeria Deposit Insurance Corporation (NDIC) has paid 94% of the people who had money in the closed Heritage Bank.
The Central Bank of Nigeria had to close Heritage Bank because it was not following the rules.
NDIC quickly started paying people who had less than N5 million in their bank accounts, making sure they got their money back within four days. However, some people are still waiting because there were problems with their bank details.
The NDIC says it will pay the rest of the depositors once they finish checking and selling off the bank’s assets.
The NDIC helps make sure people don’t lose their money when a bank fails, and it has been working hard to keep people’s trust in the banking system.
NDIC also explained that they used a smart way to find depositors’ accounts in other banks without making people fill out forms.
They will continue to pay those with more than N5 million soon. NDIC also organized a workshop to help journalists understand how the insurance system works, so they can tell people more about it.
THE NATION