The Nigeria Deposit Insurance Corporation says it has disbursed the insured deposits of N5 million each to 82.36 per cent of the total customers of the defunct Heritage Bank.
It also noted that 17.64 per cent of the insured deposits still pending payment mainly belong to depositors with accounts that have Post-No Debits instructions or lack a Bank Verification Number.
This was disclosed in a statement signed by the Director, Communication and Public Affairs, Bashir Nuhu, on Sunday in Abuja.
On June 3, 2024, the Central Bank of Nigeria revoked the banking license of Heritage Bank Plc due to persistent financial instability and regulatory breaches.
The decision, according to the apex bank, is in line with the CBN’s mandate under Section 12 of the Banks and Other Financial Institutions Act 2020, which aims to maintain a stable financial system in Nigeria.
Following the withdrawal of Heritage Bank’s licence, the NDIC stated that it would begin payment of the 2.3 million depositors of the bank.