The Managing Director/Chief Executive Officer of Nigeria Deposit Insurance Corporation, Bello Hassan, has reassured customers of the failed Heritage Bank that their funds in the bank are safe.
Hassan gave this reassurance at the 2024 NDIC Editors Forum held in Lagos on Saturday. The NDIC boss, who was represented by the Executive Director (Operations), Mustapha Ibrahim, said, “The recent closure of Heritage Bank, following the revocation of its licence by the CBN on June 3, 2024, brings to the fore NDIC’s critical role in safeguarding depositors.
“Acting by the relevant provisions of the Banks and Other Financial Institutions Act (BOFIA) 2020 and the NDIC Act 2023, the NDIC was appointed liquidator to manage the orderly resolution of the bank and oversee the payment of its depositors and other claimants.
“It is instructive that in the discharge of this critical role of depositor reimbursement, the corporation began the payment of the insured deposits of N5m per depositor within a record time of four days of the bank’s closure.
“This was achieved using Bank Verification Numbers as a unique identifier to locate depositors’ alternate accounts in other banks without the need to fill out forms or visit the NDIC offices.”
