The Nigeria Deposit Insurance Corporation has revealed that it has paid a second liquidation dividend of N24.3 billion to customers of the failed Heritage Bank.

The NDIC made the disclosure in a statement signed by Hauwa Gambo, Head Communication and Public Affairs Department at the NDIC.

Daily Trust reports that following the revocation of the banking license of Heritage Bank Limited by the Central Bank of Nigeria (CBN) on June 3, 2024, the Nigeria Deposit Insurance Corporation (NDIC) was appointed as Liquidator in accordance with Section 12(2) of the Banks and Other Financial Institutions Act (BOFIA) 2020 and Sections 55(1 & 2) of the NDIC Act 2023.

Furthermore, the statement revealed that “As a result of these efforts, the NDIC declared a first liquidation dividend of N46.6 billion in April 2025, at a rate of 9.2 kobo per N1.00. This amount was paid on a pro-rata basis to depositors whose account balances exceeded the statutory insured limit of N5 million at the date of closure. Subsequently, the Corporation continued to pursue the recovery of assets to enable further reimbursement to eligible depositors.

“Eligible depositors, who previously received the insured sum and the first tranche of liquidation dividends, will have their alternative bank accounts automatically credited using their Bank Verification Numbers (BVN). Depositors are advised to check their accounts for confirmation.

Depositors without alternative bank accounts, BVNs, or who have not claimed their insured sum of up to N5 million or the first liquidation dividend, should visit the nearest NDIC office or complete the e-claim form available at https://ndic.gov.ng/claims-verification-forms for prompt processing.,” the NDIC explained

The Corporation further assured the public that this payment represents only the second liquidation dividend as additional payments shall be made subject to the realisation of assets and collection of outstanding debts. (Daily Trust)