NDIC started payment of N46BN dividend for the Retaine Bank Deposit

Nigeria Deposit Insurance Corporation (NDIC) has announced the commencement of N46.6 billion payments from liquidation dividends to depositors from the Heritage Bank that does not exist.

This development was announced by Hawwau Gambo, Acting Head of Communication and Public Affairs in the Corporation in a statement on Sunday, April 27, 2025.

Gambo said the funds were realized from the sale of Bank Heritage assets and debt recovery owed to the institution.

He explained that liquidation dividends were paid to closed bank depositors, outside the maximum insured boundary, using the results of the sale of assets and debt recovery.

The spokesman added that after all depositors had been fully replaced, creditors and shareholders could also benefit from liquidation.

Also read: Why 17.64% of the Inheritance Bank Deposit Unpaid – Ndic

Gambo said it began payment of the first phase of liquidation dividend on April 25, with a speed of 9.2 cobo per naira on a pro-average manner for depositors with a balance of exceeding N5 million.

“Deposits with balances exceeding N5 million who do not receive liquidation dividends they must visit the nearest NDIC office,” said the spokesman.

He also encouraged depositors without alternative bank accounts – unpaid an insured amount – to visit the NDIC office or download the required forms from the agency website.

“The depositors must fill in and send the deposit verification form to receive the insured amount and, if it applies, the first stage of dividend,” added Gambo.

By: Babajide Okeowo

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