Following the revocation of the banking license of Heritage Bank Plc by the Central Bank of Nigeria (CBN) today, June 3, 2024 and the appointment of the Nigeria Deposit Insurance Corporation (NDIC) as the Liquidator, pursuant to Section 12(2) of BOFIA, 2020, the Corporation has Commenced the Liquidation of process for Heritage Bank Plc, with immediate verification and payment of insured deposits to the bank depositors.
In accordance with Section 55 sub-section 1 & 2 of the NDIC Act 2023, the Corporation has commenced liquidation process of the failed bank

A statement from the corporation said depositors of the bank that have alternate account within the industry will be paid up to the insured amount of N5 million per depositor using their Bank Verification Number (BVN) to locate their alternate account. While depositors with funds in excess of N5 million will be paid liquidation dividend upon realization of the bank’s assets and recovery of debts owed to the bank.

It also urged depositors of the defunct bank without alternate bank account visit the nearest branch of the bank with proof of account ownership, verifiable means of identification such as driver’s license, permanent voter’s card, National Identity Card, together with their alternate account and Bank Verification Number (BVN) for the verification of their deposits and subsequent payment of insured sums.

Alternatively, the statement enjoined them to file online claim by visiting the NDIC website claims page on, download and fill the claims forms and upload the required documentation.

While emphasizing that the process of payment of creditors will commence immediately after all depositors have been paid, it advised Creditors are also advised to visit the nearest branch of the bank to file their claims or via the online platform.

On the other hand, it urged Debtors that are yet to complete the repayment of loans are advised to contact the Corporation’s Asset Management Department (AMD).

The NDIC further assured the entire banking public of its commitment to the continued safety of depositors’ funds in all licensed banks. As such, depositors are urged to continue their banking businesses without fear as banks whose licenses have not been revoked remain safe and sound.