The Nigeria Deposit Insurance Corporation, (NDIC) has disclosed that they would begin the payment of the first tranche of liquidation dividends to depositors of Heritage Bank from April.
The Managing Director of NDIC, Bello Hassan, made this disclosure on Wednesday at the NDIC Special Day at the ongoing 36th Enugu International Trade Fair.
Hassan, who was represented by the South-East Coordinator of NDIC, Pamela Robert, said that NDIC was in collaboration with the CBN to maintain stability in the banking sector, enforce compliance with banking regulations and exercise effective oversight over insured deposit-taking institutions.
He further stated that NDIC have commenced preparations to pay the first tranche of liquidation dividends this month of April.
Recall that the Central Bank of Nigeria (CBN), revoked the operating licence of Heritage Bank on June 3, 2024.
According to the expert, the approach of paying insured deposits while concurrently realising assets and recovering loans ensured that no depositor was left behind.
He stressed that as more recoveries were made, subsequent tranches of liquidation dividends would follow.
“Our record in bank liquidation is reassuring. NDIC has successfully declared fully liquidation dividends to depositors of 20 previously failed banks.
“This reflects our unwavering commitment to depositor protection and our proven capacity to manage bank failures effectively.
“Therefore, I urge depositors of closed banks, particularly Heritage Bank, who have not yet received their payments, to come forward and provide necessary documentation supporting ownership of the account,” he said.
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