Edino Chubiyo Cornelius 
ABUJA, Nigeria – The Nigeria Deposit Insurance Corporation (NDIC) secures an additional ₦24.3 billion from the assets of the defunct Heritage Bank Limited to boost refunds for depositors with balances above the insured threshold.
In a statement released on Sunday, NDIC spokesperson Hawwau Gambo says the funds come from debt recoveries, asset disposals and investment realisations linked to the failed bank.
Heritage Bank’s operating licence was revoked by the Central Bank of Nigeria on June 3, 2024, after which the NDIC was appointed liquidator under the Banks and Other Financial Institutions Act 2020 and the NDIC Act 2023.
The corporation says the newly recovered funds will be used to pay uninsured depositors—those with balances exceeding the ₦5 million statutory coverage limit.
“Payments will be made automatically using depositors’ existing details already captured in NDIC records,” Gambo says.
She explains that eligible depositors who have received the insured portion and first liquidation dividend will have their alternative bank accounts credited through their Bank Verification Numbers.
The NDIC urges customers without alternative bank accounts or BVNs, as well as those yet to claim earlier payments, to visit any NDIC office nationwide or complete the e-claim form on its website.
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