NDIC Gives Update on Heritage Bank Depositors’ Repayment as New Leadership Takes Office
- The NDIC has assured the remaining depositors of Heritage Bank Plc will be reimbursed their deposits
- The assurance follows the inauguration of Thompson Oludare Sunday as the new Managing Director/CEO of NDIC
- The new leadership has pledged to uphold NDIC’s mandate of protecting depositors and ensuring financial stability
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The Nigeria Deposit Insurance Corporation (NDIC) has again reiterated its commitment to the full reimbursement of outstanding insured deposits to all eligible customers of the failed Heritage Bank Plc.
The Corporation gave this assurance in response to the mounting appeals from customers who have yet to receive their insured funds
Source: Getty Images
NDIC apologises for delays
In a statement shared via its official X (formerly Twitter) handle, the NDIC said:
“We apologise for the delay in your payment and any challenges you may have experienced. Kindly note that NDIC has continued to pay depositors. Payment has been ongoing, and the Corporation is committed to successful reimbursement to all eligible depositors.
“Those with outstanding issues may wish to send a message to us so we can confirm their status towards resolving any challenges.”
The NDIC clarified that only two categories of insured depositors remain unpaid:
“The only group of insured depositors that we have not paid are those with no alternate account and have not come forward to provide one so that we can pay them.”
The other is accounts under regulatory or court restrictions:
“Also, insured depositors whose account is on post-no-debit order either by order of court or by regulatory agencies due to issues around fraud and Know-Your-Customer (KYC) have not been paid.
"Once those orders are vacated, we are going to pay them.”
Source: Getty Images
New NDIC leadership takes office
Meanwhile, Thompson Oludare Sunday has officially assumed office as the new managing director and chief executive officer of the NDIC, Vanguard reports.
His inauguration, alongside that of Dr. Kabir Katata as Executive Director (Operations), was conducted over the weekend by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, according to a statement by the Head of Communications and Public Affairs Department, Ms. Hauwa Gambo.
The Minister charged the new executives to bring their extensive experience to bear in managing the NDIC, which he described as a key pillar in Nigeria’s financial safety-net and a critical player in the country’s path to economic stability and growth.
Sunday, a former Director at the Central Bank of Nigeria (CBN), expressed gratitude to President Bola Ahmed Tinubu for the confidence reposed in the new management.
He assured the public that the Corporation, under his leadership, would work diligently to fulfil its mandate and contribute meaningfully to banking sector stability.
Customers with deposits above N5 million booked for April
In related news, the NDIC has promised that customers with more than N5 million deposits will finally start receiving their money back in April.
The NDIC stated that the remaining deposits will be paid in tranches as more of the bank’s assets are liquidated and outstanding loans are recovered.
Customers with less than N5 million deposits have already been settled within days of the bank's closure.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
