The Nigeria Deposit Insurance Corporation (NDIC) announced that it has successfully and transparently auctioned off the assets of the defunct Heritage Bank, which included land and other assets.
This disclosure was made by NDIC’s Managing Director, Bello Hassan, during the corporation’s special event at the 46th Kaduna International Trade Fair.
Hassan stated that the auction was conducted in line with the statutory mandate under Section 62 (1)(d) of the NDIC Act, 2023.
The proceeds from the auction will be used to settle depositors with balances exceeding the insured limit of N5 million, with further payments expected as additional recoveries are made.
Represented by Ahmad Umar, the NDIC’s Kano Zonal Office Comptroller, Hassan emphasized that the NDIC is committed to ensuring a stable financial environment that protects depositors and fosters public confidence, which in turn supports business growth and national economic development.
He also explained that the corporation’s mission, encapsulated in the slogan ‘Protecting your bank deposits,’ aims to promote financial inclusion and reassure Nigerians about the security of their savings.
Hassan highlighted the recent revocation of Heritage Bank’s operating license on June 3, 2024, and noted that the NDIC reimbursed depositors within four days using their Bank Verification Numbers (BVN).
The swift response enabled insured amounts to be paid to depositors, except for those who had no alternate accounts in other banks or whose accounts had no debits (PND) instructions or BVN.
The NDIC is reaching out to depositors without BVN through calls and text messages for verification.
Hassan reiterated the corporation’s commitment to ensuring that creditors of the defunct bank are paid as soon as all depositors have been fully reimbursed.
He encouraged Heritage Bank depositors who have not yet received their payments to come forward with the necessary documentation for reimbursement.
