The Nigeria Deposit Insurance Corporation (NDIC) has announced that it will begin the first round of payments to customers of the closed Heritage Bank this April.

This update was shared during the NDIC Special Day at the 36th Enugu International Trade Fair. The NDIC Managing Director, Bello Hassan, who was represented by Pamela Robert, the South-East Coordinator, said the payments are part of efforts to protect depositors and keep the banking sector stable.

The Central Bank of Nigeria (CBN) had revoked Heritage Bank’s operating license on June 3, 2024, due to issues in the bank’s operations.

According to NDIC, the first set of liquidation dividends will be paid in April. They also assured that more payments will be made as the bank’s assets are sold and loans are recovered.

Hassan encouraged all Heritage Bank customers who haven’t received any payment yet to come forward with documents that prove ownership of their accounts.

He added that NDIC has a good history of handling failed banks, having fully paid depositors of 20 other banks in the past.