The Nigeria Deposit Insurance Corporation has recovered an additional N24.3bn from the assets of the defunct Heritage Bank Limited to facilitate the repayment of depositors with balances exceeding N5m at the time the bank’s licence was revoked. This was disclosed in a statement signed by the Head, Communication and Public Affairs Department of...
The Nigeria Deposit Insurance Corporation has commenced the payment of N46.6 billion as the first tranche of liquidation dividends to depositors of the defunct Heritage Bank, whose funds exceeded the maximum insured limit of N5m. The corporation announced the development in a statement issued on Sunday by its acting Head of Communication and P...
The Nigeria Deposit Insurance Corporation (NDIC) has urged members of the public to continue their banking activities without fear, assuring that all banks remained safe and sound. A statement by Hawwau Gambo, the Acting Head, Communication and Public Affairs Department of NDIC in Abuja yesterday, reiterated the corporation’s commitment toward...
The Managing Director and Chief Executive, Nigeria Deposit Insurance Corporation, NDIC, Bello Hassan, said yesterday the corporation has commenced sales of landed property and chattels of the defunct Heritage Bank nationwide to ensure payment of liquidation dividend to uninsured depositors of the bank. Hassan disclosed this on the occasion of ...
The Nigeria Deposit Insurance Corporation, NDIC said that some customers of the defunct Heritage Bank have not been paid the insured part of their deposit due to factors including inconsistencies in the database of the bank. Managing Director, NDIC, Mr. Bello Hassan disclosed this in a keynote address at the 2024 NDIC Editors Forum in [&hellip...
The Nigeria Deposit Insurance Corporation (NDIC) yesterday said it has commenced the process for the sale of landed properties and chattels of the defunct Heritage Bank, in a bid to ensure timely declaration of liquidation dividends to uninsured depositors of the failed bank. NDIC in a statement signed by Director, Communication and Public Aff...
The Nigeria Deposit Insurance Corporation (NDIC) reported that 84.98% of depositors from the now defunct Heritage Bank have been reimbursed, thanks to the use of Bank Verification Numbers (BVN). NDIC’s CEO, Bello Hassan, anÂnounced this at the ongoing 21st edition of the NDIC Workshop for Business Editors and Finance Correspondents Association...
A high-level tripartite committee of the three major regulators of the financial services sector has been formed to scrutinise new funds being raised by banks under the ongoing recapitalisation in the banking sector. Members of the committee are drawn from Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC) and Nigeria Depo...
The Nigeria Deposit Insurance Corporation (NDIC) says 82.36% of the total insured depositors of the defunct Heritage Bank have been reimbursed since the revocation of the bank’s licence by the Central Bank of Nigeria (CBN) on June 3, 2024. In a statement yesterday, a spokesman for the appointed liquidator NDIC, Bashir Nuhu, said the remaining ...
The Nigeria Deposit Insurance Corporation (NDIC) has increased the maximum deposit insurance coverage for Deposit Money Banks (DMBs) from N500,000 to N5,000,000 and would provide full coverage of 98.98 per cent of the total depositors compared with the current cover of 89.20 per cent This was announced today by the Managing Director/Chief Exec...
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