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The Nigerian Deposit Insurance Corporation(NDIC) has said that ninety-nine percent of Heritage Bank depositors have total balances under N5 million.
The Managing Director of the NDIC, Bello Hassan, disclosed this at a media conference on Wednesday, June 3, in Abuja,
He said that the Heritage Bank was liquidated after the Central Bank of Nigeria (CBN) revoked its license due to a violation of Section 12 (1) of the BOFIA, 2020.
According to the NDIC, there were 2.3 million depositors at Heritage Bank.
Hassan claimed that the bank is currently verifying all depositors to provide insurance benefits of up to N5 million.
He added that depositors with insured savings exceeding N5 million will be paid after the bank’s assets are liquidated.
