The Nigeria Deposit Insurance Corporation (NDIC), has commenced the payment of ₦46.6 billion in liquidation dividends to depositors of the defunct Heritage Bank.
NDIC Acting Spokesperson, Hawwau Gambo, confirmed this in a statement on Sunday.
She explained that the funds were raised through asset sales and debt recoveries.
The first tranche, which began on April 25, pays depositors 9.2 kobo per naira on a pro-rata basis for amounts above ₦5 million.
Gambo added that further payments would follow as more assets are realised, ensuring depositors, creditors, and shareholders are fully settled.
