NDIC shares step by step method in which unpaid Heritage bank customers can collect their money

The Nigeria Deposit Insurance Corporation (NDIC) has asked depositors  of the defunct Heritage Bank who are yet to receive their payments to come forward with their BVN, proof of account ownership, identification, and alternative account details for processing.

The managing director of NDIC, Bello Hassan, made this known during the corporation’s ‘special day’ event at the 36th Lagos International Trade Fair, where he elaborated on NDIC’s oversight and regulatory functions, highlighting the corporation’s role in liquidating Heritage Bank and facilitating the ongoing recovery and refund of depositors’ funds.

“Depositors who are yet to receive their payment should come forward with their BVN, proof of account ownership, identification, and alternative account details,” Hassan said, emphasizing that claims can be submitted through NDIC’s various channels, including their website, email, and social media platforms.

NDIC boss futher raffirmed its agency commitment to protecting depositors from the adverse impacts of bank failures, a mission carried out in close collaboration with the Central Bank of Nigeria (CBN).

“Our mandate is to safeguard depositors and ensure financial stability,” he stated.

On the broader financial landscape, the NDIC boss assured the public that Nigeria’s banking system remains stable. “All banks with active licenses from the CBN are safe and healthy,” Hassan said.

The director of communications and public affairs, Nuhu Bashir, who represented Hassan , added that the NDIC will continue to work diligently to promote the soundness and safety of the financial system in Nigeria.

“The NDIC is committed to ensuring a stable financial environment that safeguards depositors and builds public confidence, enabling businesses to thrive and contribute to our nation’s economic development,” he added.

The president of the Lagos Chamber of Commerce and Industry (LCCI)Gabriel Idahosa said the NDIC had remained effective in its regulatory oversight.

He said the corporation has been helpful in maintaining stability within the financial sector.

Idahosa said, “The corporation’s vigilant monitoring of banks, proactive intervention in distressed institutions, and ongoing commitment to depositor protection have instilled confidence in the banking sector.

“These ensure that banks can continue to serve businesses and individuals even in uncertain economic times.

“Its unwavering commitment to depositor protection and financial stability has been vital in navigating recent economic challenges and safeguarding the integrity of Nigeria’s banks.”

Idahosa urged the NDIC to continue to evolve in response to the shifting financial landscape, addressing challenges such as digitalisation, rising non-performing loans, and public awareness.