Plans are in the pipeline to pay depositors of the defunct Heritage Bank with deposits exceeding N5 million while the depositors who had above N5 million with the bank got paid through the liquidation dividends.
The Managing Director of NDIC, Mr Bello Hassan stated this at the 2024 workshop for Financial Correspondents Association of Nigeria (FICAN) in Lagos on Thursday.
He explained that the Corporation had also commenced debt recovery to ensure the payment.
”We are making concerted effort to cover the assets in terms of physical assets and debts in liquidation dividends which have already commenced,” he said.
According to him, NDIC had paid substantially all insured depositors.
”The only group of insured depositors that we have not paid are those with no alternate account and have not come forward to provide the alternate account so that we can pay them.
”Also, insured depositors whose account is on post no debit order either by order of court or by regulatory agencies due to issues around fraud and Know-Your-Customer (KYC) have not been paid and once those orders are vacated, we are going to pay them,” he said.
Hassan reiterated the Corporation’s commitment to do all within its mandate to ensure stability in the financial system adding that
confidence is key in maintaining stability in the financial system.