NDIC: We’ve Paid 86% Of Defunct Heritage Bank’s Insured Deposits

The Nigeria Deposit Insurance Corporation (NDIC) yesterday, said it has now paid 86 per cent of the total insured deposits of the defunct Heritage Bank.

The Managing Director and Chief Executive of the Corporation, Mr. Bello Hassan, announced the new figure in his welcome address at the retreat for members of the House of Representatives Committee on Insurance and Actuarial Matters held in Lagos.

Mr. Hassan, who was represented at the event by the Executive Director, Corporate Services, at the NDIC, Mrs. Emily Osuji, said that the Corporation was making efforts to complete the payments of the remaining 14 per cent of the insured deposits in the defunct bank.

He, however, said that some of the insured depositors constituting the remaining 14 percent comprise customers with issues such as, owning accounts with Post No Debit (PND) instructions, having KYC limitations on the maximum lodgement per day, not having Bank Verification Numbers (BVNs) attached to their accounts or not coming forward for verification to provide alternate accounts in other banks to enable the Corporation to pay them.

As he put it, “cumulatively, as at today, the NDIC has paid 86 per cent of the total insured deposits.

The Corporation is making efforts to complete the payments of the remaining 14 percent of the insured deposits.

Some of the insured depositors constituting these remaining 14 per cent are customers whose accounts have post no debit (PND) instructions by courts or regulatory authorities.

“Others are those with KYC limitations on the maximum lodgement per day, customers with no BVN attached to their accounts or have not come forward for verification to provide alternate accounts in other banks to enable the Corporation to pay them.”