NDIC Advises Closed Banks’ Customers Yet To Receive Payment

December 04, (THEWILL) – The Nigeria Deposit Insurance Corporation has advised customers of closed banks yet to receive their payment to visit the bank with their evidence to claim their funds.

The Managing Director/Chief Executive of the corporation, Mr Bello Hassan, advised on the occasion of NDIC’s Special Day at the 45th Kano International Trade Fair held in Kano on Wednesday.

“I encourage depositors of any closed bank, especially Heritage Bank, who are yet to receive their payments, to come forward with their BVN, proof of account ownership, verifiable means of identification, and alternative account details.

“Depositors can submit their claims through our various channels, including our website, email, and social media platforms, as we remain committed to ensuring the safety of depositors’ funds,” Hassan said.

He said over the years, the NDIC had been instrumental in promoting stability by ensuring that when banks fail, depositors are protected, and their funds are reimbursed promptly.

He said recent lessons from the revocation of Heritage Bank’s operating license on June 3, 2024, and ongoing reimbursement of its depositors reinforced this critical role.

The MD said the Corporation began the payment of the insured deposits of N5 million per depositor within a record time of four days after the bank’s closure.

This, he said, was achieved using Bank Verification Numbers as a unique identifier to locate depositors’ alternate accounts in other banks without the need to fill out forms or visit the NDIC offices.

“Having largely reimbursed depositors their insured deposits, the corporation is committed to ensuring that depositors with balances exceeding N5 million are also paid the balance of their deposits.

“These uninsured deposits represent a significant portion of the total deposits in Heritage Bank. In this regard, the corporation is already working assiduously to ensure that, depositors with amounts over the maximum insured amount of N5 million are paid through liquidation dividends from the realisation of the defunct bank’s assets and recovery of debts,” he said.