Depositors of Heritage Bank, which is currently in liquidation, will begin receiving their insured deposits starting this week, according to Mr. Bello Hassan, Managing Director of the Nigeria Deposit Insurance Corporation (NDIC). During a press conference in Abuja, Hassan revealed that over 99 percent of the 2.3 million depositors have accounts with balances of N5 … Read more
Following the Central Bank of Nigeria’s (CBN) revocation of Heritage Bank Plc’s banking license, the Nigeria Deposit Insurance Corporation (NDIC) has initiated the bank’s liquidation. The NDIC announced on Monday that it has started the immediate verification and payment of insured deposits to the bank’s depositors. In compliance with Section 12(2) of the Banks and … Read more
In a move to uphold Nigeria’s financial integrity, the Central Bank of Nigeria (CBN) has taken decisive action by revoking the license of Heritage Bank Plc under the powers vested in it by the Banks and Other Financial Act (BOFIA) 2020. This measure, effective immediately, comes as a response to the bank’s failure to comply … Read more