NDIC Begins Payment has commenced the payment of N46.6 billion as the first tranche of liquidation dividends to depositors of the defunct Heritage Bank whose funds exceeded the maximum insured limit of N5 million.
The announcement was made in a statement issued on Sunday by the NDIC’s Acting Head of Communication and Public Affairs, Hawwau Gambo.
According to the NDIC, the payment process began on Friday, April 25, 2025, and is aimed at ensuring that all eligible depositors of the closed bank are adequately reimbursed.
“In its continued commitment to ensuring that depositors of the defunct Heritage Bank are fully reimbursed, the Nigeria Deposit Insurance Corporation has declared the first tranche of liquidation dividends totaling N46.6bn from the proceeds of sales of the defunct bank’s assets and recovery of debts owed to the defunct institution,” the statement read.
The NDIC explained that the liquidation dividend represents the amount paid to depositors from the proceeds realised from the sale of the bank’s assets and recovery of outstanding debts, in excess of the maximum insured limit.
The move is part of ongoing efforts to maintain stability and confidence in Nigeria’s banking sector.
