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The Nigeria Deposit Insurance Corporation (NDIC) has attributed the delay in paying some defunct Heritage Bank customers to discrepancies in account names linked to their Bank Verification Numbers (BVN).
NDIC Managing Director, Bello Hassan, informed the News Agency of Nigeria on Sunday in Abuja that a substantial amount had already been paid to depositors without BVN-related issues.
Hassan urged depositors who have not received their insured deposit credit alerts to visit the NDIC’s website and complete their verification forms. This verification process also applies to depositors without a BVN-linked alternate account.
"We have already commenced the payment of customers since June 6. We have paid a substantial amount to the customers. What we leverage in making the payment is the BVN of customers. We trace alternate accounts in other banks and pay them their insured amounts. There are some that we have challenges linking up because of some discrepancies between the names and others. We are calling on customers that have not received their alerts in their alternate accounts to come forward and complete their verification forms so that we can pay them," he said.
Regarding depositors with more than five million naira, Hassan said they would be paid liquidation dividends. NDIC has begun disposing of physical buildings and recovering loans and advances granted by the bank to fund these dividends.
"We are not going to wait until we recover everything, no. As we recover, we will also advertise to say that we will pay liquidation dividends so that concerned depositors will be on the lookout for alerts in their accounts," Hassan added.
Recall that the Central Bank of Nigeria (CBN) revoked the banking licence of Heritage Bank Plc on June 3 due to the bank’s failure to improve its financial performance, posing a threat to financial stability.
