5th June, 2024
By Oluwapelumi Oluwayemi
The Nigerian Deposit Insurance Corporation has reassured Heritage Bank depositors that there’s no cause for alarm, as it is actively repaying them.
Bello Hassan, NDIC’s Managing Director, shared this during a press briefing, detailing the repayment procedures and noting a swift resolution.
Hassan assured that customers won’t have to wait the standard 30 days as mandated by law but will be settled within a week.
Recall that the Nigeria Deposit Insurance Corporation (NDIC) has started liquidating Heritage Bank Plc after the Central Bank of Nigeria (CBN) revoked its licence.
On Monday, many Heritage Bank customers were surprised to learn that the CBN had revoked the bank’s licence. The decision, announced on Monday, aligns with Section 12(2) of the Banks and Other Financial Institutions Act (BOFIA), 2020. The CBN has designated NDIC as the liquidator for the bank.