LAGOS, Nigeria (VOICE OF NAIJA)-The Nigeria Deposit Insurance Corporation (NDIC) has reported that mismatched account names on alternate accounts associated with the Bank Verification Number (BVN) of certain former Heritage Bank customers are hindering the disbursement of their insured deposits.
The Managing Director of NDIC, Mr. Bello Hassan, made this known on Sunday in Abuja.
Hassan stated that a substantial amount has been paid to depositors of the closed bank who do not have BVN-related issues.
He urged those who have not yet received their insured deposits to visit the NDIC’s website and complete their verification forms to facilitate payment.
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Hassan said, ”We have already commenced the payment of customers since June 6. We have paid a substantial amount to the customers.
What we leverage in making the payment is the BVN of customers. We trace alternate accounts in other banks and pay them their insured amounts.
”There are some that we have challenges linking up because of some discrepancies between the names and others. We are calling on customers who have not received their alerts in their alternate accounts to come forward and complete their verification forms so that we can pay them.”
Hassan stated that depositors with more than five million naira will receive their payments from the liquidation dividends.
He explained that the NDIC has begun selling the bank’s physical assets and started recovering the loans and advances previously issued by the bank.
”That is what we (will) use in paying those liquidation dividends. We are not going to wait until we recover everything. As we recover, we will also advertise to say that we will pay liquidation dividends so that concerned depositors will be on the lookout for alerts in their accounts,” Hassan said.
On June 3, 2024, the Central Bank of Nigeria (CBN) revoked the banking license of Heritage Bank Plc, citing the bank’s failure to improve its financial performance, which posed a threat to financial stability.