Ndic to pay the first tranche of liquidation dividends to the bank depositors of the heritage in April

The Nigeria Deposit Insurance Corporation (NICC) states that the payment of the first tranche of dubidating dividends of the Heritage Bank would begin payment from April.

It will be remembered that the operating license of the Heritage Bank was revoked by the central bank of Nigeria (CBN) on June 3, 2024.

The CEO of the Endic, Bello Hassan, declared this Wednesday during the special day of the Ndica on the 36th International trade Enuggu in progress.

Represented by Mrs. Pamela Robert, coordinator of the South-East of Nician, Hassan said that the Ndica was in collaboration with the CBN to maintain stability in the banking sector, enforce compliance with bank regulations and exercise effective supervision compared to insured deposit institutions.

According to him, ndic began the preparations to pay the first tranche of liquidation dividends this month of April.

“I wish to reassure all the depositors that the Ndica has the financial and operational capacity to completely reimburse all the depositors as the recoveries are made,” he said.

Hassan said that the approach of the payment of insured deposits while realizing simultaneously and the recovery of loans ensured that no deposits was left behind.

The CEO stressed that, as more recoveries were made, subsequent tranches of liquidation dividends will follow.

“Our bank liquidation record is reassuring. Nician has declared dividends fully liquidating to depositors of 20 banks previously failed.

“This reflects our unshakable commitment to the protection of the custodians and our proven ability to effectively manage bank failures.

“Therefore, the depositors of closed banks, in particular Heritage Bank, who have not yet received their payments, to come forward and provide the necessary documentation in support of the account ownership.

The latter, he said, included the bank verification number (BVN) and the alternative bank account number for the payment of the insured sum.

“Complaints can be sent through our website, and -mail, social media platforms or by visiting any of our zonal offices,” he said.

He said that the Ndica has constantly played a crucial role in maintaining financial stability ensuring that depositors receive timely compensation when the banks have not succeeded.

“A recent example is the revocation of the operating license of Heritage Bank by the CBN.

“In line with its statutory mandate, the company immediately started the liquidation process, including the verification and payment of insured deposits up to a maximum of ₦ 5 million per depositing within four days.

“This rapid action allowed the payment of the amounts insured to most of the bank depositors using their BVN as a unique identifier to identify their alternative accounts for payment.

“Those still to be paid are largely depositing without BVN or alternative accounts in other banks or those with post-non-non-debit (PND) restrictions.

“Some accounts also have Kyc problems, such as level 1 limits or names of names, while some depositors may not be aware that the payments were made due to the lack of transaction notices on alternative accounts,” he added.

The leader Odeiga Jideonwo, president of the Chamber of Commerce, Industry, Miniers and Agriculture of Enugu (excitement) praised ndic for his operations.

The president, however, invited the company to improve his level of compensation paid to the depositors when the banks passed.

“It is truly a great challenge and we hope that the Ndica would increase the percentage of money paid to the depositors depending on the total amount of the deposit that each customer has in the bank,” said Jideonwo.

He also begged that the CBN through his regulatory framework should simplify the work of ndic, ensuring that the possibilities of bank failure have been reduced to the minimum of the bare and protect themselves against the depositors who cross this negative experience.