The Nigeria Deposit Insurance Corporation, NDIC, says it has commenced the process of paying ₦46.6 billion in liquidation dividends to depositors of the defunct Heritage Bank.
The Commission has also assured the shareholders and creditors of the collapsed bank that they will also be paid, after all legitimate depositors have been fully settled.
The commercial bank seized to operate last year after the Central bank of Nigeria, CBN withdrew its bank’s license, laving many frustrated depositors getting their money trapped.
Hawwau Gambo, the Acting Head of Communication and Public Affairs of the Commission who made this known said the funds realised from selling the assets and funds recovered from those who owed the defunct bank will be used to pay depositors.
According to her, “A liquidaion dividend is paid to depositors of a closed bank, beyond the maximum insured limit, using proceeds from asset sales and debt recovery.
Recall that following the revocation of the defunct bank license by the Central bank of Nigeria, CBN, in June last year, the apex bank paid up to N5 million as insured deposit to depositors.
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