By Gwurld4026 
NDIC to Disburse Liquidation Dividends to Heritage Bank Depositors
The Nigeria Deposit Insurance Corporation (NDIC) has announced plans to commence the first tranche of liquidation dividend payments to depositors of the defunct Heritage Bank in April 2025.
Following the revocation of Heritage Bank’s operating license by the Central Bank of Nigeria (CBN) on June 3, 2024, the NDIC initiated the liquidation process. Initially, insured deposits up to ₦5 million per depositor were reimbursed. The forthcoming payments will address balances exceeding this insured amount, referred to as uninsured deposits, and will be disbursed as liquidation dividends.
The NDIC has made significant progress in liquidating Heritage Bank’s physical assets and recovering outstanding debts, facilitating these payments. Managing Director Bello Hassan emphasized the corporation’s commitment to ensuring no depositor is left behind, stating that as more recoveries are made, subsequent tranches of liquidation dividends will follow.
Depositors who have not yet received their payments are encouraged to provide the necessary documentation, including their Bank Verification Number (BVN) and an alternate bank account number, to facilitate the reimbursement process. Claims can be submitted through the NDIC’s website, email, social media platforms, or by visiting any of their zonal offices.
This initiative reflects the NDIC’s ongoing efforts to protect depositors and maintain stability within Nigeria’s financial system. The corporation has successfully declared full liquidation dividends to depositors of 20 previously failed banks, underscoring its capacity to manage bank failures effectively.