By Ginika Okoye
The Nigeria Deposit Insurance Corporation (NDIC) has moved to douse fears over the safety of banking institutions, assuring Nigerians that all banks remain strong, stable, and fully secure.
In a statement issued on Sunday, Hawwau Gambo, the Acting Head of Communication and Public Affairs at NDIC, reassured depositors that their funds in all licensed banks were protected.
She stressed that there was no reason for panic, urging Nigerians to carry on with their banking activities confidently.
NDIC’s statement comes in response to mounting concerns from depositors of the defunct Heritage Bank, particularly those whose balances exceed the maximum deposit insurance limit of N5 million.
Gambo revealed that significant progress had been made in reimbursing affected depositors, stating, “The corporation has successfully reimbursed insured deposits up to the N5 million limit per depositor.”
She clarified that those yet to receive their insured funds were mainly customers without Bank Verification Numbers (BVN) or alternative accounts in other banks, which are required for seamless payment processing through the Nigeria Inter-Bank Settlement System (NIBSS).
“Additionally, some accounts have Post No Debit (PND) restrictions, while others face Know Your Customer (KYC) limitations, such as Tier One accounts that impose caps on fund lodgments. There are also cases of name mismatches requiring resolution,” she explained.
For depositors still seeking clarification or assistance, NDIC urged them to reach out via email at [email protected] or contact the Claims Resolution Department between 9:00 a.m. and 5:00 p.m. on the following numbers: 0810 422 0807; 0810 931 3326; 0903 819 7064; 0906 465 7140.
With the NDIC’s firm reassurance, Nigerians can rest easy knowing their deposits are protected, and the banking system remains resilient.
