The Nigeria Deposit Insurance Corporation announced that it has paid 82.36 percent of customers of the liquidated Heritage Bank. Bashir Nuhu, Director of Communication and Public Affairs at NDIC, disclosed this in a statement at the weekend.
Recall that on June 3, the Central Bank of Nigeria revoked the license of Heritage Bank over its weak financial standing. As an update, NDIC said payments have been made to the defunct banks' customers using Bank Verification Numbers linked with depositors’ alternative accounts in other banks. The corporation stressed that it began payment of the insured deposits of N5 million maximum per depositor.
“This unprecedented achievement of direct payment through BVN-linked alternate accounts without the need for depositors to visit NDIC offices or fill out forms marks a historic shift for the NDIC in the prompt reimbursement of depositors, with payment of about 82.36 percent of the total insured deposit to date. “This was achieved using Bank Verification Numbers as a unique identifier to locate depositors’ alternate accounts in other banks.
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