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Heritage Bank: NDIC Hints on Requirements, Steps to Recover Your Fund

Heritage Bank operating license revoked by CBN and NDIC

Heritage Bank operating license revoked by CBN

It is no more news that the Nigeria Deposit Insurance Corporation (NDIC), in exercise of its statutory power as the official Liquidator of Heritage Bank Plc, on June 2 commenced the liquidation process of the failed bank with immediate verification and payment of insured deposits to the bank.    

According to NDIC, the depositors can recover funds deposited in the failed bank through various routes and processes earmarked below.

The process includes but not limited to:

1. Verification and Payments of Depositors with Alternate Bank Account

Accordingly, depositors of the Bank that have alternate account within the industry will be paid up to the insured amount of N5 million per depositor using their Bank Verification Number (BVN) to locate account.

While depositors with funds in excess of N5 million will be paid liquidation dividend upon realization of the bank’s assets and recovery of debts owed to the bank.

2. Verification and Payment of Depositors Without Alternate Bank Account

According to NDIC, All depositors of the defunct bank without alternate bank accounts in the industry are advised as follows:

i. Visit the nearest branch of the bank with proof of account ownership, verifiable means of identification such as; driver’s license, permanent voter’s card, National Identity Card, together with their alternate account and Bank Verification Number ( BVN) for the verification of their Deposit and subsequent payment of insured sums.

Or

ii File online claim by visiting the NDIC website claims page, download and fill the claims forms and upload the required documentation.

3. Verification and Payment of Creditors 

According to NDIC, Creditors are also advised to visit the nearest branch of the (Heritage) bank to file their claims or via the online platform .

Note that the process of payment of creditors will commence immediately after all depositors have paid.

4. Debtors’ Repayment of Loans

Meanwhile, Debtors that are yet to complete the repayment of loans are advised to contact the Corporation’s Asset Asset Management (AMD).

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Tags: Heritage BankNDIC
Adetunji Tobi

Adetunji Tobi

Tobi Adetunji is a Business Reporter with Techeconomy. Contact: adetunji.tobi@techeconomy.ng

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