NDIC Begins Sales Of Landed Properties, Chattels Of Heritage Bank Nationwide
By: Salihu Ali, Kano
The Nigeria Deposits Insurance Corporation NDIC has commenced the sales of landed Properties and Chattels belonging to Heritage Bank across the country after revocation of it’s operating licence in June 2024.
The Managing Director and Chief Executive, of the Corporation Bello Hassan announced this at the NDIC’s special day in the ongoing 45th Kano International Trade Fair holding in Kano city, Northwest Nigeria.
He noted that, “the Corporation had since began the payment of the insured deposits of N5 million per depositor within a record time of four days of the bank’s closure.
“This was achieved using Bank Verification Numbers (BVN) as a unique identifier to locate depositors alternate accounts in other banks without the need to fill forms or visits the NDIC offices.”
According to Hassan, having largely reimbursed the Banks’ depositors their insured deposits, the Corporation is committed to ensuring that depositors with balances exceeding N5 million are also paid the balance of their deposits.
“These uninsured deposits represent a significant portion of the total deposits in Heritage Bank.”
He noted that, “the Corporation is already working to ensure that, depositors with amounts in excess of the maximum insured amount of N5 million are paid through liquidation dividends from the realisation of the defunct bank’s assets and recovery of debts.”
“The Corporation has already initiated the process of debt recovery and realisation of investments and physical assets of the defunct bank to ensure timely payment to the uninsured deposits of the defunct bank.
Additionally, the NDIC’s responsibilities extend to the creditors of the defunct bank, who will receive payments after all depositors have been fully reimbursed. This orderly process, based on asset realisation and priority of claims, is essential in maintaining public trust in the banking system and promoting financial system stability. “
The NDIC Boss encourage depositors of any closed bank, especially Heritage Bank, who are yet to receive their payments, to come forward with their proofs of account ownership to the corporation.
Dr. Hassan reassured depositors about the safety of their funds should in case banks runs into period of uncertainty.
“This contributes significantly to the overall stability of the financial system.” Hassan said.
Also Speaking, the President Kano Chambers of Commerce Industries Mines and Agriculture KACCIMA Garba Imam represented by Alhaji Sani Sale expressed the commitment of KACCIMA in broadening market value and expand Kano’s industrial revolution to the global market.
Olusola Akintonde
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