The Nigeria Deposit Insurance Corporation (NDIC) has reassured depositors of the defunct Heritage Bank Limited that payment of insured deposits and liquidation dividends is still ongoing, while urging customers who have not yet received their money to submit complaints through its official Helpdesk portal.
In a public notice, the NDIC acknowledged the difficulties being experienced by some former Heritage Bank customers and reaffirmed its commitment to ensuring that eligible depositors receive their funds in accordance with the NDIC Act, 2023.
According to the Corporation, payment to depositors began within four days after the Central Bank of Nigeria (CBN) revoked Heritage Bank’s banking licence on June 3, 2024.
NDIC Says Over ₦55 Billion Has Been Paid
The NDIC disclosed that it has already paid more than ₦55 billion in insured deposits to customers whose account balances were within the insured limit of ₦5 million or less.
In addition, the Corporation said it realised ₦51 billion from the sale of Heritage Bank’s assets and the recovery of outstanding loans. The proceeds have been distributed as liquidation dividends to eligible depositors.
The Corporation noted that it remains committed to recovering additional assets and outstanding debts owed to the failed bank in order to declare and pay further liquidation dividends in the future.
Why Some Depositors Have Not Received Their Money
According to the NDIC, some payments remain outstanding due to issues affecting certain depositors’ records.
These include:
- Absence of a Bank Verification Number (BVN).
- Failure to provide an alternative bank account.
- Post No Debit (PND) restrictions.
- Know Your Customer (KYC) compliance issues.
- Name mismatches between banking records.
- Other account verification challenges.
The Corporation said it is working with relevant stakeholders to resolve these issues so that affected customers can receive their payments.
NDIC Advises Affected Customers to Submit Complaints Online
Depositors who have not yet received their insured deposits or liquidation dividends have been advised to submit their complaints or enquiries through the official NDIC Helpdesk portal.
The Corporation stressed that payment to eligible depositors is still ongoing and encouraged affected customers to provide the necessary information to facilitate the resolution of their cases.
Official NDIC Helpdesk
Submit a Complaint or Enquiry to the NDIC Helpdesk
NDIC to Continue Recovering Heritage Bank Assets
The Corporation also disclosed that it will continue exploring opportunities to recover additional assets belonging to the defunct Heritage Bank.
According to the statement, the NDIC plans to collaborate with law enforcement agencies and other relevant institutions to recover non-performing loans owed to the bank.
The Corporation said these recovery efforts are intended to increase the funds available for future liquidation dividend payments to depositors.
What Heritage Bank Customers Should Do
If you previously held an account with Heritage Bank and have not received your payment, the NDIC advises you to:
- Verify that your BVN is correctly linked to your bank account.
- Ensure your KYC information is complete and up to date.
- Confirm that your account is not under a PND restriction.
- Check that your name matches across all banking records.
- Submit a complaint through the official NDIC Helpdesk if your payment is still outstanding.
Taking these steps may help speed up the verification process and improve the chances of receiving your payment without unnecessary delays.
Many Heritage Bank customers have waited patiently for updates since the bank’s licence was revoked in 2024. While the NDIC says significant progress has been made, this latest notice is a reminder that some unresolved verification issues are still preventing payments to certain depositors.
If you are affected, it is important to use only the official NDIC Helpdesk and avoid individuals or groups requesting money to “facilitate” your payment. The complaint process is official, and you should ensure all information you provide is accurate.