Nigeria: NDIC Pays ₦24bn Liquidation Dividend to Heritage Bank Customers
The Nigeria Deposit Insurance Corporation (NDIC) has paid a total of ₦24 billion as liquidation dividends to verified customers of the defunct Heritage Bank, offering financial relief to thousands of affected depositors.
According to the NDIC, the payout followed the successful realization of Heritage Bank’s assets and recovery of outstanding debts after the bank’s licence was revoked by the Central Bank of Nigeria (CBN). The liquidation dividend represents payments made to depositors beyond the insured limits earlier settled.
NDIC explained that the funds were disbursed to customers whose balances exceeded the maximum insured deposit, after settling claims of insured depositors and creditors in line with statutory procedures. Eligible customers received payments directly into their registered bank accounts.
The corporation reiterated its commitment to protecting depositors and maintaining stability in Nigeria’s banking system, urging remaining eligible customers who are yet to receive their dividends to come forward with required documentation for verification.
Financial analysts say the ₦24bn payout demonstrates NDIC’s role in safeguarding public confidence in the banking sector, especially during bank failures and liquidation processes.
Heritage Bank customers have welcomed the development, describing it as a timely intervention amid economic pressures and uncertainty.
