Nigeria Deposit Insurance Corporation (NDIC) has assured that no failed bank depositor will lose their funds should there be any failure.
Speaking at the 2024 Customer Service Week celebration in Abuja yesterday, NDIC Managing Director, Bello Hassan, commended the workers for their efforts. He urged them to renew their dedication to serving their core stakeholders-depositors of failed banks.
This followed the innovative tools deployed to resolve deposit issues related to the defunct Heritage Bank. The innovative approach enabled the NDIC to begin settling insured depositors of Heritage Bank, whose license was revoked by the Central Bank of Nigeria (CBN) in June 2023, within just four days of the revocation.
So far, 93per cent of depositors with balances below N5million have been compensated. However, he urged them not to become complacent, but rather to continue building on the corporation’s core mandate to achieve even greater success.
A key highlight of the event was the testimonies from several depositors of the failed Heritage Bank, who shared how they effortlessly received their claims after providing the requested information to the NDIC.
