NDIC says over N106bn paid to Heritage Bank depositors
The Nigeria Deposit Insurance Corporation (NDIC) has revealed that it paid more than N106 billion to depositors of the defunct Heritage Bank Limited, while assuring customers with unresolved claims that payments are still ongoing.
READ ALSO: First Lady donates N2bn to promote Akwete weaving heritage in Abia The corporation, however, explained that some outstanding payments remained unresolved due to issues such as the absence of Bank Verification Numbers (BVNs) or alternative bank accounts, Post No Debit (PND) restrictions, Know Your Customer (KYC) issues, and name mismatches.
On 3 June 2024, the Central Bank of Nigeria (CBN) revoked Heritage Bank’s license due to the bank’s persistent financial instability, poor performance, and a breach of Section 12(1) of the Banks and Other Financial Institutions Act (BOFIA) 2020.
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