Depositors from that shuttered bank are getting another major payout. The Nigeria Deposit Insurance Corporation declared a twenty-four point three billion naira second liquidation dividend for Heritage Bank customers. This payment goes to people whose account balances exceeded the insured limit of five million naira when the bank closed. The corporation stressed this is just the second payment, with more expected as additional assets get sold.
A first dividend of forty-six point six billion naira was paid earlier. Both payments result from the corporation selling the failed bank's physical assets and recovering outstanding debts. The latest dividend will be applied to uninsured balances at a rate of five point two kobo for every naira owed.
Cumulatively, the declared dividends now total fourteen point four kobo per naira of uninsured deposits. Payments will automatically hit eligible depositors' alternative bank accounts using their registered Bank Verification Numbers. The NDIC advised depositors to check their accounts for the funds.
Those without alternative accounts or BVNs should visit an NDIC office or use the online claim form. The corporation clarified that liquidation dividends only cover depositors with balances above the insured limit. Other creditors and shareholders receive payment only after all depositors are fully settled, assuming funds remain.
A first dividend of forty-six point six billion naira was paid earlier. Both payments result from the corporation selling the failed bank's physical assets and recovering outstanding debts. The latest dividend will be applied to uninsured balances at a rate of five point two kobo for every naira owed.
Cumulatively, the declared dividends now total fourteen point four kobo per naira of uninsured deposits. Payments will automatically hit eligible depositors' alternative bank accounts using their registered Bank Verification Numbers. The NDIC advised depositors to check their accounts for the funds.
Those without alternative accounts or BVNs should visit an NDIC office or use the online claim form. The corporation clarified that liquidation dividends only cover depositors with balances above the insured limit. Other creditors and shareholders receive payment only after all depositors are fully settled, assuming funds remain.
