The Nigeria Deposit Insurance Corporation has said that about 82.36 per cent of the depositors of failed Heritage Bank have been paid.
In a statement issued on Sunday, the corporation said that it commenced the payment of verified depositors within four days of the liquidation of the bank.
The CBN announced the revocation of the licence of Heritage Bank in June and appointed the NDIC as the liquidator.
The NDIC explained, “In the discharge of its deposit guarantee mandate, the Corporation began the payment of the insured deposits of N5m maximum per depositor within a record time of four days of the bank closure. This was achieved using Bank Verification Numbers as a unique identifier to locate depositors’ alternate accounts in other banks.
“However, depositors with balances exceeding N5m have been paid the initial insured sum of N5m, while the remaining balances (classified as uninsured deposits) will be paid as liquidation dividends upon realization of the defunct bank’s assets and recovery of debts owed to the defunct bank.”
