NDIC Announces Date To Commence Payment To Heritage Bank Depositors

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NDIC Announces Date To Commence Payment To Heritage Bank Depositors

Depositors of Heritage Bank (in liquidation) will be paid their insured deposits as from this week.

The Managing Director (MD) of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, disclosed this at a press conference, in Abuja.

Accord to him, over 99 percent of the 2.3 million depositors have N5 million and less in their accounts and will therefore, be paid in full.

He also explained that only about 4000 depositors have above N5 million in their accounts.

NDIC Managing Director intimated that such customers will receive an initial N5 million along with others and later be paid more as the NDIC recovers assets of the bank and loans from debtors.

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