NDIC Disburses N46.6 Billion as First Tranche of Liquidation Dividends to Heritage Bank Depositors
The Nigeria Deposit Insurance Corporation (NDIC) has announced the payment of the first tranche of liquidation dividends, totaling N46.6 billion, stemming from the sale of assets of the defunct Heritage Bank and the recovery of debts owed to the institution. The first tranche was paid out starting on Friday, April 25, 2025.
According to the NDIC’s statement, the payment was made at a rate of 9.2 kobo per naira, pro-rated to depositors with account balances exceeding the NDIC’s insured limit of N5 million at the time of Heritage Bank’s closure.
The statement further detailed that following the revocation of Heritage Bank’s operating license by the Central Bank of Nigeria (CBN) on June 3, 2024, the NDIC had promptly reimbursed insured deposits of up to N5 million per depositor. The NDIC used depositors’ Bank Verification Numbers (BVN) to locate alternative account numbers in other banks and credited the insured amounts automatically.
For depositors with amounts exceeding N5 million, the NDIC clarified that those who had not received their liquidation dividends should approach the nearest NDIC office or contact the provided customer service numbers.
Additionally, the NDIC urged depositors of the defunct bank who do not maintain alternative accounts and have not received the insured amount to visit NDIC offices or access the claims page on the Corporation’s website to download, complete, and submit the deposit verification form for the payment of the insured amount and their liquidation dividends.
The statement also emphasized that this payment is just the first tranche of liquidation dividends, with further payments to follow as more assets of the defunct Heritage Bank are sold and outstanding debts are recovered. The NDIC assured the public of its ongoing commitment to asset recovery and reimbursing all eligible depositors.
